EnCap Investments closes US$1.2bn energy transition fund

EnCap Investments L.P. has closed its EnCap Energy Transition Fund I, L.P. with commitments of approximately US$1.2 billion. The fund was created to invest in companies that advance the nation’s transition to a lower-carbon future with a focus on creating wind, solar, and energy storage enterprises.

With its first energy transition fund, EnCap raised committed capital from a diverse set of domestic and international investors including corporate and government-sponsored pension funds, sovereign wealth funds, family offices, endowments, foundations, and high-net-worth individuals.  

The Energy Transition Fund already has deployed capital in five platform investments in the battery storage, distributed power, and utility-scale solar and wind sectors — Broad Reach Power, Catalyze, Jupiter Power, Solar Proponent, and Triple Oak Power.

Vinson & Elkins LLP served as legal counsel to EnCap on the formation of the fund.