← EnCap Investments
Encap Flatrock Midstream Fund III
EnCap InvestmentsVINTAGE 2014
NET IRR
9.6%
TVPI
—
DPI
—
COMMITMENT
$20M
LP SOURCES
40
VALUATION SPREAD1.41x – 1.43x TVPI across 2 sources
SEC REGISTRATION · FORM ADV SCHEDULE D
SEC IAPD ↗GROSS ASSET VALUE
$2.1B
MIN INVESTMENT
$1.0M
INVESTORS
287
AUDITED
Yes
PRICEWATERHOUSECOOPERS LLC
DOMICILE
Texas, United States
MASTER FUND+1 related SEC-registered vehicle
CROSS-REFERENCE TABLE
| LP SOURCE | AS OF | COMMITMENT | PAID IN | NET IRR | TVPI | DPI | DOC |
|---|---|---|---|---|---|---|---|
| MainePERS | 2025-09-30 | $20M | $25.3M | 9.6% | — | — | SOURCE ↗◆ |
| UTIMCO | 2025-08-31 | — | — | — | — | — | SOURCE ↗◆ |
| CalSTRS | 2025-06-30 | $60M | $69.9M | 9.6% | 1.43x | 1.10x | SOURCE ↗◆ |
| Florida SBA | 2025-06-30 | $50M | $61.9M | 9.6% | 1.41x | 1.10x | SOURCE ↗◆ |
| Florida SBA | 2025-03-31 | $50M | $61.9M | 9.6% | 1.40x | 1.10x | SOURCE ↗◆ |
| Florida SBA | 2024-12-31 | $50M | $61.9M | 9.6% | 1.40x | 0.99x | SOURCE ↗◆ |
| Florida SBA | 2024-09-30 | $50M | $61.9M | 9.8% | 1.40x | 0.99x | SOURCE ↗◆ |
| Florida SBA | 2024-06-30 | $50M | $61.9M | 9.9% | 1.39x | 0.97x | SOURCE ↗◆ |
| Florida SBA | 2024-03-31 | $50M | $61.7M | 10.0% | 1.39x | 0.95x | SOURCE ↗◆ |
| Florida SBA | 2023-12-31 | $50M | $61.7M | 10.0% | 1.38x | 0.94x | SOURCE ↗◆ |
| Florida SBA | 2023-09-30 | $50M | $61.7M | 10.2% | 1.38x | 0.89x | SOURCE ↗◆ |
| Florida SBA | 2022-09-30 | $50M | $61.3M | 10.0% | 1.32x | 0.69x | SOURCE ↗◆ |
| Florida SBA | 2022-06-30 | $50M | $61.2M | 8.4% | 1.24x | 0.66x | SOURCE ↗◆ |
| Florida SBA | 2022-03-31 | $50M | $61M | 8.3% | 1.23x | 0.66x | SOURCE ↗◆ |
| Florida SBA | 2021-12-31 | $50M | $60.9M | 8.1% | 1.21x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2021-09-30 | $50M | $60.8M | 8.0% | 1.20x | 0.47x | SOURCE ↗◆ |
| Florida SBA | 2021-06-30 | $50M | $60.5M | 7.2% | 1.16x | 0.46x | SOURCE ↗◆ |
| Florida SBA | 2021-03-31 | $50M | $60.4M | 6.4% | 1.13x | 0.46x | SOURCE ↗◆ |
| Florida SBA | 2020-12-31 | $50M | $60M | 6.4% | 1.12x | 0.45x | SOURCE ↗◆ |
| Florida SBA | 2020-09-30 | $50M | $60M | 5.2% | 1.09x | 0.45x | SOURCE ↗◆ |
| Florida SBA | 2020-06-30 | $50M | $60M | 7.0% | 1.11x | 0.44x | SOURCE ↗◆ |
| Florida SBA | 2020-03-31 | $50M | $58.9M | 6.1% | 1.09x | 0.45x | SOURCE ↗◆ |
| Florida SBA | 2019-12-31 | $50M | $57.4M | 11.7% | 1.17x | 0.44x | SOURCE ↗◆ |
| Florida SBA | 2019-09-30 | $50M | $55.3M | 15.9% | 1.22x | 0.45x | SOURCE ↗◆ |
| Florida SBA | 2019-06-30 | $50M | $52.9M | 16.9% | 1.22x | 0.45x | SOURCE ↗◆ |
| Florida SBA | 2019-03-31 | $50M | $50.3M | 19.5% | 1.24x | 0.46x | SOURCE ↗◆ |
| Florida SBA | 2018-12-31 | $50M | $47.6M | 17.7% | 1.19x | 0.49x | SOURCE ↗◆ |
| Florida SBA | 2018-09-30 | $50M | $45.2M | 20.5% | 1.21x | 0.46x | SOURCE ↗◆ |
| Florida SBA | 2018-06-30 | $50M | $31.2M | 22.6% | 1.30x | 0.67x | SOURCE ↗◆ |
| Florida SBA | 2018-03-31 | $50M | $29.9M | 24.4% | 1.30x | 0.70x | SOURCE ↗◆ |
| Florida SBA | 2017-12-31 | $50M | $23.1M | 28.5% | 1.40x | 0.11x | SOURCE ↗◆ |
| Florida SBA | 2017-09-30 | $50M | $22.1M | 21.3% | 1.24x | 0.12x | SOURCE ↗◆ |
| Florida SBA | 2017-06-30 | $50M | $20.6M | 19.6% | 1.19x | 0.12x | SOURCE ↗◆ |
| Florida SBA | 2017-03-31 | $50M | $18.1M | 15.9% | 1.14x | 0.14x | SOURCE ↗◆ |
| Florida SBA | 2016-12-31 | $50M | $16.8M | 22.2% | 1.15x | 0.11x | SOURCE ↗◆ |
| Florida SBA | 2016-09-30 | $50M | $16.5M | 19.5% | 1.09x | 0.10x | SOURCE ↗◆ |
| Florida SBA | 2016-06-30 | $50M | $7.4M | 28.5% | 1.21x | 0.16x | SOURCE ↗◆ |
| Florida SBA | 2016-03-31 | $50M | $6.8M | 36.5% | 1.21x | 0.14x | SOURCE ↗◆ |
| Florida SBA | 2015-12-31 | $50M | $3.1M | 57.0% | 1.49x | 0.00x | SOURCE ↗◆ |
| Florida SBA | 2015-09-30 | $50M | $2.8M | -21.5% | 0.86x | 0.00x | SOURCE ↗◆ |