Regions

Private equity company Lime Rock said it was able to close Lime Rock Resources III with capital commitments amounting to USD 750 million. Like its two predecessor funds, the third fund's goals would be acquiring, improving and directly operating oil and gas properties in the US. Lime Rock is a Houston-based private equity firm that looks for investment opportunities in the global energy sector.

The most recent fundraising round reached the fund's hard cap after the initial target was achieved. Lime Rock Resources Co-Chief Executive Officer Eric Mullins had expressed gratitude in the support provided by their investors and new limited partners.

"We believe that the robust demand and relatively speedy fundraise reflects the good performance of the two prior Lime Rock Resources funds and the opportunity set today. We will seek to deploy this new capital as we have before, demonstrating our ability to patiently source property acquisitions at attractive prices through a strong network of industry relationships," Mullins added.