Private-equity firm EnCap Flatrock Midstream closed a fund with a $3 billion hard cap on May 15, the company said.
The fund, known as EnCap Flatrock Midstream Fund III LP, or EFM III, will support startup midstream companies, the company said.
It was oversubscribed and reached the hard cap in four months, passing its $2.25 billion target, the company added.
Its investors included existing limited partners, corporate and public pension plans, insurance companies, university endowments and foundations, the company said.
Since it closed two other energy industry-focused funds (EnCap Flatrock ...