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

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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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