The Orange County Employees’ Retirement System (OCERS) has committed $75 million to EnCap Energy Capital Fund XII.
Seeking $4 billion in capital, EnCap Energy Capital Fund XII will invest in traditional upstream opportunities and acquisitions of mineral rights and royalty streams by providing growth capital to management teams focused on known producing regions in North America.
At its May 2023 meeting, the OCERS Investment Committee approved a 2023 real assets pacing plan that stipulated for $350 million to $400 million of real assets commitments spread out across three to five funds ($50 million to $100 million per fund). The commitment to EnCap Energy Capital Fund XII was OCERS’s second investment within its 2023 real assets pacing plan.
OCERS invested $100 million into EnCap Energy Capital Fund XI in 2017. EnCap Energy Capital Fund XI raised $7 billion and had its final close dat