The Illinois Municipal Retirement Fund (IMRF) has greenlighted a commitment of up to $50 million in EnCap Energy Transition Fund II.
EnCap Investments provides venture capital to the independent sector of the U.S. energy industry. According to the firm’s website, EnCap has raised 22 institutional funds, totaling more than $38 billion, and manages capital on behalf of more than 350 U.S. and international investors.
A fundraising target for EnCap Energy Transition Fund II was not disclosed. The fund’s predecessor (EnCap Energy Transition Fund I) closed in 2021 with $1.2 billion in capital commitments from domestic and international investors.
The fund was created to invest in companies that advance the nation’s transition to a lower-carbon future, with a focus on creating wind, solar and energy-storage enterprises.
IMRF is an existing investor in EnCap fu
