Today, EnCap Investments L.P. announced it successfully closed the EnCap Energy Transition Fund I, L.P. With commitments of approximately $1.2 billion, the fund will invest in companies that advance energy transition efforts in the US. Particularly, those advances must have a focus on creating solar, wind, and energy storage enterprises.
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EnCap Investments Energy Transition Fund
Independent growth capital provider EnCap Investments L.P. announced today it successfully closed EnCap Transition Fund I, L.P., with commitments of approximately $1.2 billion. Accordingly, this fund will help companies with funding advance the nation’s transition to a lower-carbon future. Mainly, the fund will aid companies focusing on creating wind, solar, and energy storage enterprises.
Therefore, this energy transition fundraised committed capital from a diverse set of domestic and international investors. These include corporate and government-sponsored pension funds, sovereign wealth funds, and family offices—also, endowments, foundations, and high-net-worth individuals.
In fact, the EnCap Energy Transition Fund already has deployed capital in five platform investments. Particularly, this is possible in the battery storage, distributed power, and utility-scale solar and wind sectors. For instance, these include Broad-Reach Power, Catalyze, Jupiter Power, Solar Proponent, and Triple Oak Power.
In this sense, EnCap Investments Managing Partner Jason DeLorenzo said, “We are truly grateful for the enthusiastic support we received from both long-standing and new investors.” Therefore, “as stewards of their capital, we appreciate the continued support of our investors.”
Indeed, “coupling our 33-year investment track record with the power and renewable experience of our energy transition team, we have established a best-in-class platform to support a less carbon-intensive future. Besides, we look forward to supporting its growth over the next decade.”
Similarly, EnCap Investments Managing Partner Doug Swanson said, “EnCap’s Energy Transition Managing Partners Jim Hughes, Tim Rebhorn, Kellie Metcalf, and Shawn Cumberland have done a remarkable job working with our investor relations team and other principals to raise the fund while simultaneously building a valuable portfolio.”
“Despite the challenges of the COVID pandemic, we have attracted outstanding talent and begun building value. Therefore, we believe there are continued profitable investment opportunities across the entire energy value chain. So, the addition of this third platform allows us to create dynamic companies that are transforming North America’s power grid.”
Since 1988, the firm raised 22 institutional investment funds totaling approximately $38 billion. Moreover, it currently manages capital on behalf of more than 350 U.S. and international investors.