Encap Investments has raised $1.925 billion for its fourth midstream infrastructure fund, according to a filing with the SEC. The firm did not comment on its fundraising efforts.
In 2008, EnCap Investments and Flatrock Energy Advisors joined together in a long-term partnership to create EnCap Flatrock Midstream, a series of venture capital funds to invest in the midstream sector of the North American energy space. More specifically, the fund series pursues attractive investment opportunities in natural gas gathering, treating, compression, processing and storage operations, crude oil gathering and transportation, and produced water handling and disposal, among other investments.
The first of these funds, Encap Flatrock Midstream Fund I, closed in April 2010 with institutional-investor commitments totaling $791.6 million. Fund II closed in July 2012 with $1.75 billion of limited-partner capital commitments. Fund III, a fund that New Mexico State committed $25 million to, closed in May 2014 with $3 billion of limited-partner capital commitments.
The fund has received commitments from institutional investors throughout its fundraising, including the $23.1 billion New Mexico State Investment Council, the $2.8 billion San Antonio Fire & Police Pension System and the $2.7 billion Baltimore City Fire & Police Employees’ Retirement System.
Encap has raised 20 institutional funds with approximately $34 billion of capital commitments.
