About This Fund
EnCap Energy Capital Fund XII is the twelfth institutional investment fund raised by EnCap Investments, the leading provider of growth capital to the independent sector of the United States energy industry. Founded in 1988 and headquartered in Houston, Texas, EnCap has spent more than three decades building one of the most recognized and respected franchises in energy-focused private equity, having managed capital for over 350 institutional investors across 25 funds totaling more than USD 40 billion since inception. Fund XII represents the continuation of a fund series with a proven track record of backing experienced management teams across the upstream oil and gas sector.
EnCap Energy Capital Fund XII follows the same disciplined strategy that has defined the EnCap platform across prior vintages: providing growth capital to proven management teams with deep operational expertise in identifying, developing, and monetizing upstream oil and gas opportunities across major US producing basins. The fund targets companies with the scale, technical competence, and strategic focus required to deliver reliable, responsible, and affordable energy. EnCap takes a hands-on approach to portfolio company development, leveraging its deep basin knowledge, extensive industry relationships, and network of operating partners to accelerate value creation and support management teams through the full asset lifecycle.
EnCap Energy Capital Fund XII held its final close on October 21, 2024, raising USD 5.25 billion in committed capital from institutional investors and large family offices—approximately 40% of which represented new LP relationships to the EnCap platform. Including USD 1.2 billion in co-investment capital, total capital associated with Fund XII reached USD 6.4 billion. The fund launched with 12 portfolio companies, including 10 managed by teams that EnCap had successfully partnered with in prior funds, reflecting the firm's emphasis on repeat relationships and track-record continuity. Fund XII is part of EnCap's broader platform, alongside the EnCap Energy Transition Fund II and Flatrock Midstream Fund V.