Newsroom

Houston-based EnCap Investments LP plans to wrap up Encap Energy Capital Fund VII LP at $2.5 billion in the next 30 days after being in the market for five months.

Fund VII has raked in $2.3 billion to date, but the rest is already spoken for, said a person familiar with the firm.

Though the oversubscribed fund could have taken in more capital, it promised its most loyal investors it would stick to the $2.5 billion hard cap, this person said.

In August, LBO Wire reported that the fund met its $2 billion target after being in the market for not even three months.

Fund VII will invest in 25 to 30 start-up companies in the oil and gas exploration sector in North America. Like its predecessors, the fund will contribute capital to management teams EnCap has already successfully worked with in the past.

Fund VI closed at $1.5 billion in the summer of 2006 and took 90 days to fund-raise.

Fund VII investors include New Mexico Public Employees' Retirement Association, Ohio State University and University of Michigan Regents.

Reach EnCap at 713-659-6100.