Lime Rock Partners Raises $745M For Fourth Oil & Gas Fund

May 26 2016 | 10:10pm ET

Global energy sector specialist Lime Rock Partners has raised $745 million in commitments for its fourth buyout fund to focus on the oil & gas industries. 

As did its predecessors, Lime Rock Resources IV will seek to acquire, improve, and directly operate producing oil and gas properties in the United States, according to the company. The Lime Rock Resources team launched the fundraising process for Fund IV in November 2015, held its first close in February 2016, and its final close in May 2016. 

Lime Rock launched its first Resources fund in 2005 and raised $750 million for its Lime Rock Resources III in October 2013. Since inception, the Lime Rock Resources funds have made 23 major acquisitions in basins throughout the United States, primarily in Texas, Oklahoma, New Mexico, and North Dakota.

“We are exceptionally grateful for the support of both our longstanding investors and new limited partners in their commitments to Fund IV,” said Eric Mullins, co-CEO of the Lime Rock Resources team, in a statement. “We hope that the dislocation in the oil and gas property market following the commodity price volatility of the last two years provides us opportunities to continue to acquire attractively priced properties.”

“For 11 years, we have sought to consistently apply our strategy to patiently acquire producing properties, focus on techniques to increase margins, and generate returns for our investors,” added Charlie Adcock, co-CEO.

Houston-based Lime Rock Partners was founded in 1998 and has raised $6.6 billion in private equity funds for investment in the energy industry through Lime Rock Resources and Lime Rock Partners.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of