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EnCap Flatrock Midstream hits $3bn final close for third fund

15 May 2014

oil well drillEnergy sector-focused private equity firm EnCap Flatrock Midstream said that its third fund was oversubscribed and has held a final close on $3bn, exceeding its $2.25bn target.

EnCap Flatrock Midstream Fund III was backed by corporate and public pension plans, family offices, insurance companies and university endowments and foundations.

Last month AltAssets reported that the fund had exceeded its target, having raised more than $2.5bn.

EnCap held a final close for its previous Midstream fund on $1.75bn in July 2012, ahead of its $1.25bn target.

The firm is focused on acquiring midstream energy infrastructure assets in North America.

EnCap Flatrock founder Bill Waldrip said, “We are extremely pleased with the continued support we have received from our limited partners and excited to welcome many new investors to EFM.

“As we deploy Fund III, we will continue to partner with the best midstream management teams in North America to help them grow their companies into valuable market leaders.”

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