EnCap Energy Transition has closed its Energy Transition Fund II (EETF II) with $1.5 billion in commitments, the company says.
EnCap has made investment commitments to five portfolio companies through EETF II so far: Linea Energy, Parliament Solar, PowerTransitions, Arbor Renewable Gas and Bildmore Renewables.
“The EnCap Energy Transition team is proud to have raised a sizable 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 a number of new, high-quality investors, both domestically and internationally,” says Jim Hughes, EnCap managing partner.
“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.”
Vinson & Elkins served as legal counsel to EnCap on the fund’s formation.
