The $16.9 billion Ohio Police & Fire Pension Fund (OP&F) has committed $80 million to EnCap Energy Transition Fund II.
Managed by Houston-based EnCap Investments, EnCap Energy Transition Fund II is seeking to raise $2 billion of capital and will invest opportunistically in energy-transition and renewable-power opportunities in North America.
EnCap Energy Transition Fund I closed in 2021 with $1.2 billion of equity commitments. Since its founding in 1988, EnCap Investments traditionally has been an oil-and-gas focused firm, but it has been expanding into opportunities in the energy-transition market in recent years with its Energy Transition fund series.
EnCap Energy Transition Fund I invested in companies such as Catalyze.energy, a provider of renewable energy assets to commercial and industrial real estate owners, and SolarProponent, an Austin-based company f