Lime Rock Partners, a Westport-based private equity firm focusing on the energy sector, today announced the first and final closing of its third fund, Lime Rock Partners III, L.P., with $425 million in capital commitments.
The fund, like its two predecessors, will target privately-negotiated investments in growth-stage companies in the conventional oil service, oil service technology, and exploration and production sectors of the energy industry.
Lime Rock also has offices in Houston Aberdeen, Scotland, and Calgary, Alberta.
Lime Rock closed its first fund in October 1998 with $105 million in capital commitments and its second fund in October 2002 with $320 million in capital commitments.
Together, the funds have provided growth capital to 26 companies in Lime Rock’s targeted sectors of the energy industry in the United States, Canada, and Europe.
Investments include IPEC, Sensa, Deer Creek Energy, Venture Production
Company, Roxar, Hercules Offshore, PSL Energy Services, Serimer DASA, and U.S. Exploration Holdings.
Forty institutional investors, including leading endowments, foundations,
and public pension funds, made capital commitments to Lime Rock Partners III.
More than 80 percent of the fund’s capital commitments came from investors in Lime Rock’s previous funds, and the remainder came from a small group of new institutional investors.
