EnCap Energy Capital Fund IX closed with $5 billion, confirmed Hallie Kim, managing director at EnCap Investments.
The fund was launched in September 2012 with an original target of $4.25 billion. This is the largest EnCap fund, surpassing the $3.5 billion EnCap Energy Capital Fund VIII, Ms. Kim said in an e-mail.
The fund will primarily invest in the upstream sector of the oil and gas industry in North America. It has already committed about $350 million to three portfolio companies.
Investors in the fund include the $62.4 billion Minnesota State Board of Investment, St. Paul, the $27.5 billion Illinois Municipal Retirement Fund, Oak Brook, the $13.6 billion Kansas Public Employees Retirement System, Topeka, and the $13.9 billion Louisiana Teachers' Retirement System, Baton Rouge.