The $49.9 billion Illinois Municipal Retirement Fund (IMRF) has approved up to $35 million for EnCap Energy Capital Fund XII, an oil and gas fund managed by EnCap Investments.
In November 2022, Reuters reported EnCap Investments was raising capital for Energy Capital Fund XII — its first private equity fund in five years dedicated to oil and gas production. Although a fundraising target could not be determined at the time of publication, Reuters said Energy Capital Fund XII is expected to be smaller than its predecessor fund, which raised $7 billion in 2017.
IMRF is an existing investor in EnCap funds, with $160 million in aggregate commitments.
