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EnCap Flatrock Midstream closes fourth fund at $3.25 billion

A closed sign hanging in a shop window

EnCap Flatrock Midstream closed its latest oil and gas fund, EnCap Flatrock Midstream Fund IV, at its $3.25 billion hard cap within six months, according to a news release.

EnCap Flatrock Midstream's fourth fund had a $3 billion fundraising target. The firm's prior fund, EnCap Flatrock Midstream Fund III, closed with $3 billion in May 2014.

Investors in the new fund include the $15 billion Orange County Employees Retirement System, Santa Ana, Calif.; $2.3 billion Houston Municipal Employees Pension System and the University of Houston System's $572 million endowment.