Updated with correction, Feb. 9, 2011
EnCap Energy Capital Fund VIII, a North American oil and gas private equity fund was closed at $3.5 billion.
The fund was oversubscribed with close to $6 billion in investor demand, said Hallie Kim, co-head of investor relations and fundraising.
So far, the fund has committed $700 million to six portfolio companies.
Investors include the $10 billion Los Angeles City Employees' Retirement System.