EnCap Investments L.P., an oil and gas private equity firm, closed its new fund at $5bn.
EnCap Energy Capital Fund IX, L.P., provides growth capital to proven management teams focused primarily on the upstream sector of the oil and gas industry in North America.
To date, Fund IX has committed approximately $350m to three portfolio companies, including Common Resources III, Paloma Partners III and PayRock Energy.
Founded in 1988 and based in Houston and Dallas, EnCap is led by the firm’s four managing partners, David B. Miller, Gary R. Petersen, D. Martin Phillips and Robert L. Zorich.
It has managed approximately $18bn of capital commitments from some 300 institutional investors, providing growth capital to more than 190 companies in the oil and gas industry.