EnCap Investments has closed its EnCap Energy Capital Fund XII, raising $5.25 billion of capital commitments, exceeding its initial target and hitting its hard cap.
Including $1.2 billion of co-investment commitments, the firm raised a total of $6.4 billion associated with Fund XII.
EnCap provides growth capital to proven management teams focused on the upstream sector of the oil and gas industry in North America. Fund XII includes investments in 12 portfolio companies, 10 of which are managed by teams the firm has partnered with in previous funds.
“We see this fundraise as a strong demonstration of support for our longstanding investment strategy and are extremely grateful to our long-term investors who partnered with us in Fund XII,” said Doug Swanson, managing partner of EnCap. “We are also very excited to add a significant number of high-quality new investors as partners, with approximately 40 percent of the capital commitments stemming from new relati
