Lime Rock Closes on $750 Million for Lime Rock Partners VII, L.P. and Affiliated Co-Investment Vehicle
7/15/2016Westport, Conn., July 15, 2016 — Lime Rock, a private equity firm focusing on the global energy sector, today announces the closing of its seventh Lime Rock Partners fund, Lime Rock Partners VII, L.P., and an affiliated co-investment vehicle for $750 million in aggregate capital commitments. As with the six predecessor Lime Rock Partners funds, the Lime Rock Partners team will seek to deploy the capital in Fund VII through investments in high-growth, differentiated oil and gas businesses in the E&P and oilfield services sectors. Over 90% of the capital commitments in Fund VII came from existing Lime Rock investors.
Jonathan Farber, Managing Director and co-founder of Lime Rock, noted, “We are exceptionally grateful for the support of both our longstanding investors and new limited partners in their commitments to Fund VII. We have already started investing Fund VII and are now investment partners in four exciting business, three in core U.S. shale opportunities and one oilfield service company whose business plan capitalizes on second-order impacts of the shale revolution. All four opportunities were sourced with no or low investment competition through Lime Rock’s network.”
John Reynolds, Managing Director and co-founder of Lime Rock, added, “For eighteen years, we have focused on niche enterprises, providing growth capital to entrepreneurs in the sectors we know well, and working tirelessly alongside those entrepreneurs to generate investment returns for our investors. With volatile commodity prices and the ongoing impacts of the U.S. shale revolution, today is an exciting, dynamic time to be investing in the oil and gas business. We look forward to deploying growth capital in the current Fund VII portfolio and in other differentiated companies in the upstream oil and gas sector.”
Since its inception in 1998, Lime Rock Management has raised $7.2 billion in private equity funds and affiliated co-investment vehicles for investment in the energy industry through Lime Rock Partners, investors of growth capital in E&P and oilfield services companies worldwide, and Lime Rock Resources, acquirers and operators of oil and gas properties in the United States. Lime Rock Partners is a creative investment partner in building differentiated oil and gas businesses, side by side, with entrepreneurs every day. The Lime Rock Partners team brings together specialist finance and operating expertise, global presence, technology leadership, people-centered strategies, and patient hard work with the goal of helping its investors and portfolio company partners profit from operational growth. For more information, please visit www.lrpartners.com.
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