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Laxman Pai, Opalesque Asia: EnCap Investments, a provider of growth capital to the independent sector of the U.S. energy industry, has raised $1.5bn (€1.4bn) for its second US energy transition fund.
The amount raised for EnCap Energy Transition Fund (EETF) II at close manager exceeded the $1.2bn EnCap raised for its first fund in May 2021.
"EnCap's second energy transition fund was created to invest in solutions to decarbonize the power industry, while also opportunistically investing in low carbon fuels and carbon management," said a press release from the private equity energy company.
"The EnCap Energy Transition team is proud to have raised a sizeable pool of capital to continue to invest in the opportunity created by the shift to a lower-carbon energy system. We greatly appreciate the strong support from our existing investor base and are pleased to have added several new, high-quality investors, both domestically and internationally," said EnCap Energy Transition Managing Partner, Jim Hughes.
"Since our inception in 2019, we now manage approximately $2.7 billion of capital commitments to invest in decarbonization and are excited for the opportunities ahead of us," Jim added.
According to sources, the Arkansas Teacher Retirement System and Ohio Police & Fire Pension Fund approved $50m and $80m commitments, respectively, to the fund. Orange County Employees Retirement System approved a $75m commitment to the fund.
EnCap Managing Partner Jas...................... To view our full article Click here
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