Lime Rock Partners VI, L.P. Closes at $825 Million3/12/2013
Westport, Conn., March 12, 2013 — Lime Rock, a private equity firm focusing on the global energy sector, today announces the closing of its sixth Lime Rock Partners fund, Lime Rock Partners VI, L.P., with $825 million in aggregate capital commitments. As with the five predecessor Lime Rock Partners funds, the Lime Rock Partners team will seek to deploy the capital in Fund VI through investments in high-growth, differentiated oil and gas businesses in the E&P and oilfield services sector worldwide. Over 80% of the capital commitments in Fund VI came from existing Lime Rock investors.
Jonathan Farber, Managing Director and co-founder of Lime Rock, noted, “We are grateful for the support of the investors in Fund VI. We have already started investing Fund VI and are now an investment partner in four exciting business, two in the United States and two internationally. All four opportunities were sourced with no or low investment competition through Lime Rock’s global network. Over the next few years, we will seek to invest Fund VI in growth capital in these businesses and in other differentiated companies in the upstream oil and gas sector.”
John Reynolds, Managing Director and co-founder of Lime Rock, added, “Fifteen years ago, we embarked on an effort to become a unique energy-focused private equity firm: global, creative, focusing 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. We are excited that Fund VI will allow us to continue our new investment efforts alongside our focus on building value in our existing portfolio companies.”
Established in 1998, Lime Rock Partners is a creative investment partner in building differentiated E&P and oilfield service businesses, side by side, with entrepreneurs every day. From five locations on three continents, the Lime Rock Partners team brings its specialist finance and operating expertise, global presence, technology leadership, people-centered strategies, and patient hard work to help its investors and portfolio company partners profit from operational growth. Lime Rock manages nearly $5.0 billion of private capital for investments in the energy industry through Lime Rock Partners and Lime Rock Resources, acquirers and operators of oil and gas properties in the United States. For more information, please visit www.lrpartners.com.
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