San Antonio-based EnCap Flatrock Midstream has opened a new office in Houston, Texas. The firm will tap Director Sam Pitts to lead the new office.
The firm says the new office will place them nearer to many important investors, oil and gas producers and portfolio companies. EnCap Flatrock also maintains another office in Oklahoma City, an oil and gas hub to the north.
Pitts joined the company in 2014 after several years as an investment banker. He was previously with the senior leadership team at Citigroup’s global energy investment banking group.
EnCap Flatrock closed its most recent fund in May on $3 billion, according to Private Equity International’s research and analytics division. This was the firm’s largest fund to date, and principals have said they plan to write larger checks for investments.
In October, the firm exited its interest in Nuevo Midstream for $1.5 billion in cash to Western Gas Partners, PEI reported at the time. Commitments to Nuevo reached more than $300 million from an investor group led by EnCap Flatrock, management and Wells Fargo Energy Capital.