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Latest News  + Alternative Assets  + Real Assets  |  October 9, 2023
EnCap Receives $80M for Energy Transition Fund by Ohio Pension
Joe Palmisano
By: Joe Palmisano

EnCap Receives $80M for Energy Transition Fund by Ohio Pension

EnCap Investments has received an $80 million commitment to its EnCap Energy Transition Fund II from the Ohio Police & Fire Pension Fund.

The fund focuses on energy transition and renewable power opportunities in North America. The $16.9 billion public pension system currently has just over $1 billion in real assets, or 6% of the total investment program, according to board documents.

Houston-based EnCap recently announced it raised $993 million, nearly half of its $2 billion target, for the fund, which will make up to 12 investments of $50 million to $400 million.

The firm raised $1.2 billion two years ago to close its first energy transition fund, which targeted wind, solar, and energy storage companies. It is also looking to raise $4 billion for its Energy Capital Fund XII, which will focus on upstream investments, mineral rights and royalties from oil and gas projects.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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