Private equity firm EnCap Investments has raised $2.5bn (€1.7bn) for its seventh fund focused on the oil and gas industry as commodities pique investor interest.

EnCap Energy Capital Fund VII raised 66% more than its sixth fund which closed last year after raising $1.5bn. New investors accounted for 40% of the assets in the seventh fund, including public and corporate pension funds, according to Hallie Kim, Encap spokeswoman.