EnCap’s Newest Pool Has $5 Billion Hard Cap, Fundraising to Close in Q4

What’s the hottest topic at the Buyouts Dallas conference? It’s not the fiscal cliff or the lack of M&A but a private equity firm: EnCap Investments. EnCap, which focuses on oil and gas, is out fundraising for its latest fund, LP and placement sources say. The pool, EnCap energy Capital Fund IX, has a $4.25 billion target and a $5 billion hard cap, sources say.

Berkshire Partners Raises $4 Bln in Just Months For Eighth Fund–CORRECTED

Some PE firms may be having problems fundraising but don’t tell that to Berkshire Partners.

The Boston-based firm has been marketing for their eighth fund, which is clocking in at $4 billion, three sources say. What is so incredible is that Berkshire only began fundraising in late January and is expected to announce a first close in the next week, a source says. A final close for Berkshire Fund VIII LP is seen coming 60 days after.

Which Buyout-backed IPO in 2010 Is the Best Performer? CORRECTED

Initial public offerings by U.S.-based buyout shops so far this year include some heavy hitters, but how are the portfolio companies that went public in 2010 doing? The table below looks at 10 with the highest returns through Friday.

As of March 18, 2011, Oasis Petroleum Inc. has performed the best of the class of 2010 based on the increase in its stock price. Its shares are trading 52.96 112.57 percent higher compared with its IPO price. EnCap Investments LP’s Oasis Petroleum went public on June 17. It raised $588 million through the sale of 42 million for $14 a share. The Houston-based oil and gas explorer and producer ended Friday at $27.76.

PE-Backed Escondido Sells Land in $115M Deal

Escondido Resources II LLC, a fund backed by private equity commitments from EnCap Investments L.P., has sold 11,050 acres in the Eagle Ford Shale for $115.3 million. The transactions closed in December 2010. Midland, Texas-based Escondido Resources is focused on the development of conventional and unconventional reserves in South Texas.

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Lots of Demand for EnCap’s $3.5B Pool But Fundraising Not So Easy

Just how different is the fundraising market these days? Just consider the case of EnCap Investments LP.

On Monday, EnCap announced it had raised $3.5 billion for its eighth “upstream” fund, which will invest in companies that drill and produce oil and gas. David Miller, an EnCap co-founder and a managing partner, estimates that the PE shop spent nine to 10 months marketing for EnCap Energy Capital Fund VIII. By contrast, the buyout shop spent roughly four to six months fundraising for each of its last four to five funds.

“The world changed in 2008,” Miller told me. “There was huge demand. But it took longer to get people to the finish line because the due diligence was more extensive.”

EnCap Raises $3.5 Bln With Latest PE Fund

EnCap Investments said late Monday that it has raised $3.5 billion with its latest fund. EnCap Energy Capital Fund VIII was “significantly oversubscribed,” the PE firm said. EnCap is an oil and gas PE firm with offices in Dallas and Houston.

Oasis Petroleum Raises $588 Million in IPO

(Reuters) – Oil and natural gas exploration company Oasis Petroleum Inc (OAS.N) said late on Wednesday it priced its initial public offering at $14 a share. Houston, Texas-bases Oasis sold 42 million shares in its offering. The company had earlier planned to sell the shares for $13 to $15 each. The company is leasing land […]

EnCap Backs Caballo Energy

Caballo Energy LLC has secured a private equity commitment from EnCap Investments. No financial terms were disclosed. Caballo is a Tulsa-based company formed acquire, develop and manage natural gas gathering, compression, treating, processing and marketing assets.

EnCap Closes Energy Infrastructure Fund

EnCap Investments has closed an energy infrastructure fund with $791.6 million in capital commitments. The vehicle will focus on the midstream sector of the oil and gas industry in North America, and will be managed in partnership with Flatrock Energy Advisors.

Oasis Petroleum Files for $350 Million IPO

NEW YORK (Reuters) – Oil and gas exploration company Oasis Petroleum Inc filed for an initial public offering of up to $350 million on Thursday. Houston, Texas-based Oasis is an independent oil and natural gas exploration and development company. Most of the company’s business is focused in the Williston Basin in northeastern Montana and northwestern […]

EnCap Plotting Fund Eight; Halfway to Target on Infrastructure Pool

EnCap Investments LP is plotting its eighth fund and may need a placement agent to help it tap international investors. David Miller, a co-founder of the Houston based firm, told Buyouts that EnCap will start raising the fund late in first quarter or early in second quarter 2010. The firm will likely target somewhere in […]

PE Firms Form Meritage Midstream Services

EnCap Energy Infrastructure Fund and TPH Partners have formed Meritage Midstream Services, a Golden, Colo.-based provider of midstream services to oil and gas producers. No details of the equity commitments were disclosed.

Why The Best-Performing Industry Is Struggling The Most With Fundraising

It’s kind of like a model exclaiming “Don’t hate me because I’m beautiful.” Thanks to strong performances, energy-focused buyout funds are meeting LP’s allocation caps. How can that be possible, you ask? It’s all about percentages. An LP told me there are a number of strong energy-focused firms in the market “that are working harder […]

EnCap Investments To World: We Are In Big Trouble

When a man that’s made his living on oil and gas tells you we need to use less oil and gas, I’ll drop everything to listen. That’s essentially the message I got from Gary R. Peterson of oil and gas PE firm EnCap Investments. “This isn’t the party line you’ll get from most oil guys,” […]

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