Houston and Dallas-based EnCap Investments L.P, an energy investment firm, has raised $7 billion for its newest fund.
EnCap Energy Capital Fund XI LP will focus on providing growth capital to the upstream sector of the oil and gas industry in North America.
In April 2015, Encap closed its previous fund at $6.5 billion, generating an IRR of 26.28 percent, according to data provided by California Teachers’ Retirement System, as of March 31, 2017.
According to the firm, the nearly 30-year-old Encap has raised 20 funds that total about $34 billion and is currently managing capital for more than 350 U.S. and international investors.
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