Publications

Investors - FEBRUARY 19, 2015

Maine commits $60m to energy

by Reg Clodfelter

The Maine Public Employees Retirement System has committed $60 million to EnCap Energy Capital Fund X, an energy private equity fund managed by EnCap Investments, confirms Andrew Sawyer, chief investment officer with MainePERS.

Fund X launched in fourth quarter 2014 and is reportedly seeking $5 billion, which would match its predecessor’s February 2013 final close, according to IREI’s FundTracker database. Fund X will provide growth capital to management teams that focus primarily on the upstream sector of North America’s oil and gas industry.

The fund received a $75 million commitment from the Teachers’ Retirement System of Louisiana earlier this month.

MainePERS has invested in the fund series before, committing $30 million to Fund VIII in 2011 and another $30 million to Fund IX in 2013. The retirement system also committed $20 million to EnCap Flatrock Midstream Fund III in April 2014.

MainePERS had 3.8 percent of its $12.4 billion in assets invested private equity, as of year-end 2014, short of its 10 percent target.

 

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy