Oil and gas private equity firm EnCap Investments has closed EnCap Energy Capital Fund VIII, its largest fund to date, with $3.5 billion in commitments. The firm says it was in the market for about nine months and had to limit commitments because the fund was over-subscribed.
Encap provides growth capital to companies primarily focused on the upstream sector of the oil and gas industry in North America. Fund VIII already has invested $700 million across six different investments including Common Resources II, Lone Star II, Caiman Energy, Talon Oil & Gas II, Eclipse Resources, and Venado Oil and Gas. In March 2010, EnCap closed its EnCap Energy Infrastructure Fund with $792 million.