EnCap raises $1.2bn for eighth energy fund

The energy investor is seeking $2.5bn in total commitments for the fund, which has attracted commitments from the Minnesota State Board of Investment and the New Mexico Public Employees' Retirement System.

Texas-based energy fund manager EnCap Investments has raised $1.2 billion for its eighth fund, regulatory filings show.

The firm disclosed in three filings with the Securities and Exchange Commission that it has raised $1.06 billion for EnCap Energy Capital Fund VIII and another $140 million across another two investment vehicles affiliated with the fund.

The fund is targeting $2.5 billion in total commitments, according to fundraising database InfrastructureConnect, and was launched this year. The Minnesota State Board of Investment and the New Mexico Public Employees Retirement System are among the pensions that invested in the fund, according to InfrastructureConnect.

EnCap has been investing private equity funds in the oil and gas sector since 1994. The firm has previously raised seven energy funds – the latest closing on $2.5 billion in December 2007 – which have focused on providing growth capital to mid-cap companies in the sector.

EnCap also raised an infrastructure fund focused on the mid-stream sector of the oil and gas industry, which closed on $791 million in total commitments in March.

Park Hill is EnCap’s placement agent on the fundraise.