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EnCap Fund VII closes on $2.5bn hard cap07/12/2007. Source: AltAssets. 
 US-based oil and gas-focused private equity firm EnCap Investments has closed its latest fund, EnCap Energy Capital Fund VII. The fund has raised $2.5bn, exceeding its initial target of $2bn.
EnCap Fund VII began fundraising in May and held a first closing on just under $800m in July.
As with previous funds, EnCap Fund VII will invest in companies in the upstream sector of the oil and gas industries over the next two and a half years.
EnCap has already committed $550m of EnCap Fund VII to nine portfolio companies, four of which are led by management teams that EnCap has successfully backed in prior funds.
The current fund's predecessor, EnCap Energy Capital Fund VI, held a final closing in the summer of 2006 on $1.5bn, and is now fully committed.
Copyright © 2007 AltAssets
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