An interesting fund raise just closed today in the global energy sector. Lime Rock is a private equity firm that focuses on the global energy sector, and it announced today the closing of its fifth Lime Rock Partners fund, Lime Rock Partners V, L.P., with a total $1.4 billion in investor capital commitments.
Lime Rock has four predecessor Lime Rock Partners funds, and Lime Rock Partners V will make what it calls "creative, value-adding, and long-term growth capital investments" in companies in the global energy industry.
This notes that some 78 institutional investors participated in the fund, including leading endowments, foundations, and pension funds, made capital commitments to Lime Rock Partners V. It also says that it did not actively market this fund, as some 91% of capital commitments came from its existing investors.
Lime Rock Partners funds have invested $1.0 billion in 47 energy portfolio companies worldwide, which are primarily in the exploration & production, energy services, and oil service technology sectors. These funds have also realized some $1.7 billion and "continue to hold significant unrealized value in their portfolio company investments."
Lime Rock also manages Lime Rock Resources, a $450 million fund, which directly acquires and operates oil and gas properties in the United States. Lime Rock manages $3.5 billion of private capital for investment in the energy industry.
More information on the company's investment(s) portfolio can be found here.
Jon Ogg produces the Special Situation newsletter for 247WallSt.com.
$1.4 billion raised for new Lime Rock private equity fund
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