January 22, 2018 [San Antonio Business Journal] - San Antonio-based private equity firm EnCap Flatrock Midstream has closed on a $3.25 billion fund that will help build oil and gas pipelines and storage terminals across North America.
The company on Thursday morning announced the final closing of its EnCap Flatrock Midstream Fund IV LP, which exceeded its original $3 billion target within six months. The closing brings total institutional capital commitments at EnCap Flatrock Midstream to nearly $9 billion from more than 300 investors across its four funds.
Bill Waldrip, one of EnCap Flatrock Midstream’s three founders, said in a statement that the recently closed fund is a new pool of capital at a time when pipeline and storage terminal companies are experiencing an exciting round of growth.
“As we deploy EFM IV, we will continue to create value by supporting the best midstream management teams in North America and using our experience and contacts to help drive their success,” Waldrip said.
EnCap Flatrock Midstream’s portfolio includes investments in at least 13 companies with projects in the Eagle Ford Shale, Permian Basin and other shale plays across North America.
“Our core belief is that midstream success begins with upstream success,” EnCap Flatrock Midstream co-founder Billy Lemmons. “The management teams in our portfolio share that belief. We work together to help their customers bring oil and gas products from the wellhead to the best markets in the most efficient and effective way possible.”
Founded in 2008, EnCap Flatrock Midstream invests private equity capital in companies engaged in midstream infrastructure across North America. The firm manages more than $9 billion of investment commitments for investors.
Headquartered in San Antonio, EnCap Flatrock Midstream also has offices in Oklahoma City and Houston.
—————————-
Learn how to unlock more key tank terminal data. Join the Free Webinar TankTerminals.com 2.0: Smart Business Decisions, Powered by Data. Date: February 7th, 2018.
