EnCap Investments

EnCap Investments

Houston, Texas, United StatesEst. 198870 employeesencapinvestments.com
$18.00B AUM
private equityinfrastructuregrowth
EnCap Investments is the leading provider of equity capital to the independent sector of the U.S. oil and gas industry. EnCap Investments’ ongoing story begins in 1988 when the firm was established by founders David B. Miller, Gary R. Petersen, D. Martin Phillips and Robert L. Zorich. Since then, EnCap has built 30-plus-year track record of successfully identifying economic investment opportunities in evolving markets. To date, EnCap has raised 25 institutional funds and more than $47 billion in capital commitments.

Manager news

Strategies

MidstreamInfrastructure
EnCap Flatrock Midstream is a venture capital firm with a singular focus: identifying, investing in, and enhancing the value of great businesses and attractive assets in the North American midstream energy sector. Our team are experts in hydrocarbon and energy evolution-related midstream infrastructure. Our investment focus is in hard-asset businesses, including gathering and transportation pipelines, treating and compression assets and services, processing and fractionation plants, storage and terminalling facilities, logistics handling and disposal facilities, and other such assets or companies providing similar services. Small companies have greater growth prospects than their larger counterparts and significant opportunities to benefit from the operating leverage created by spreading fixed costs over an expanding revenue base. These companies also receive a significant increase in the valuation multiples applied to their operating profits as they become larger and more sustainable over time. We firmly believe that growth companies make excellent investments when they are nurtured and advised by a capital provider with deep experience in the midstream sector and expertise in managing and building businesses, like EnCap Flatrock Midstream.
Energy TransitionInfrastructure
EnCap is pursuing investment opportunities created by the global transition to a lower-carbon energy system. The dramatic reduction in the cost of renewables and electric battery storage are driving a transformation in the energy sector. EnCap's energy transition team is leading the effort to explore these opportunities and is comprised of highly qualified executives with a proven track record of value creation in the electric power and alternative energy space and an extensive network of relevant industry contacts. The EnCap Energy Transition Fund (ETF) team was established in 2019 and currently manages over $2.7 billion. The ETF funds are focused on investing in management teams and projects involving proven renewable technologies, such as utility-scale solar and wind; low-cost battery storage systems; renewable natural gas; hydrogen; and service businesses that engineer, procure and manage similar energy infrastructure projects for third parties. ETF has made 14 portfolio company investments to date with four material monetizations transactions so far. The team continues to actively source new investments. Energy Transition
UpstreamGrowth
As the energy industry’s leading provider of growth capital, EnCap has been a significant source of capital to the upstream sector of the energy industry since 1988. EnCap has backed more than 240 companies across 17 upstream funds, including early mezzanine and reserve acquisition funds and, later, a series of nine growth capital funds. To date, EnCap has invested approximately $28 billion in more than 240 different upstream companies. More than 200 investments have been realized, creating strong returns for EnCap's institutional partners over multiple industry and hydrocarbon price cycles with limited losses. We believe the landscape for investment in the upstream oil and gas space remains compelling and we continue to allocate capital to the most economically attractive opportunities. Central to EnCap's investment strategy is the firm's ability to identify and attract the industry's premier management teams.

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