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Adviser Profile

As of Date 07/22/2024
Adviser Type - Large advisory firm
Number of Employees 213 -2.29%
of those in investment advisory functions 49 -2.00%
Registration SEC, Approved, 3/30/2012
AUM* 12,667,511,156 12.92%
of that, discretionary 12,667,511,156 12.92%
Private Fund GAV* 11,950,607,999 11.94%
Avg Account Size 487,211,968 12.92%
SMA’s No
Private Funds 26
Contact Info 203 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
11B 10B 8B 6B 5B 3B 2B
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeHedge Fund Count5 GAV$2,120,972,201
Fund TypePrivate Equity Fund Count21 GAV$9,829,635,798

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Brochure Summary

Overview

Lime Rock Management LP (“Lime Rock”) was founded in 1998, and as of December 31, 2023 managed approximately $12,667,511,156 of client assets on a discretionary basis for investments in the energy industry through three types of private investment funds: Lime Rock Partners, Lime Rock Resources and Lime Rock New Energy. Lime Rock Partners was formed with the goal of generating long-term capital appreciation through investments of private growth capital in energy companies in three principal sectors: (i) exploration and production; (ii) energy service; and (iii) oil service technology. Lime Rock Partners consists of nine private investment funds (the “Partners Funds”) and six co-investment funds (the “LRP Co- investment Funds”). Lime Rock Partners does not invest directly in oil and natural gas properties, but its exploration and production portfolio companies do invest in those types of assets. Certain of the Partners Funds are continuation vehicles of other Partners Funds. Lime Rock created Lime Rock Partners IV AF, L.P. (“Fund IV AF”), Lime Rock Partners VI, AF, L.P. (“Fund VI AF”) and Lime Rock Partners VI-C, L.P. (together with Fund IV AF and Fund VI AF, the “Continuation Funds”) to allow the existing Limited Partners of their predecessor funds to, at their option, either liquidate their investment or continue to hold their interest in specific oil and gas portfolio companies held by the funds as well as allow new Limited Partners to have exposure to these portfolio companies. Lime Rock Resources was formed by Lime Rock for the purpose of acquiring mature, lower-risk oil and natural gas producing properties with long-lived production profiles, and currently consists of five private investment funds (collectively, the “Resources Funds”) and one co-investment fund (the “LRR Co-investment Fund”). Lime Rock New Energy was formed for the purpose of making investments in companies that are directly or indirectly facilitating the transition to a lower carbon economy and consists of one private investment fund ( “LRNE”) and one co-investment funds (the “LRNE Co-investment Fund”). The LRP Co-investment Funds, the LRR Co-investment Fund and the LRNE Co- investment Fund are at times collectively referred to below as the “Co-investment Funds”. Lime Rock is principally owned directly and indirectly by Jonathan Farber and John Reynolds. Lime Rock serves as an investment manager and provides discretionary advisory services to the Partners Funds, the Resources Funds, LRNE and the Co-investment Funds (collectively with any future private investment or co-investment funds to which Lime Rock and/or its affiliates provide investment advisory services, the “Funds,” and each, a “Fund”). Investors in the Funds include large institutional investors
such as endowments, foundations and pension funds as well as fund of funds, family trusts and high net worth individuals. The Funds include private investment partnerships and foreign investment companies, together with any respective parallel funds, special purpose and/or subsidiary investment vehicles. Typically, within each Fund structure is a designated general partner (each, a “General Partner,” and collectively with any future affiliated general partner entities, the “General Partners”), and the Co- investment Funds share the General Partner of one of the Funds that they are co-invested with. To the extent that the context requires, references to Lime Rock include the General Partners. In providing services to the Funds, Lime Rock provides portfolio management and administrative services, including investigating, analyzing, structuring, and negotiating potential investments, monitoring the performance of portfolio companies, and advising the Funds as to disposition opportunities. Lime Rock provides investment advice solely to its Fund clients and it is not tailored individually to the Limited Partners or shareholders of the Funds (the “Investors” or “Limited Partners”). Lime Rock manages the assets of the Funds in accordance with the terms of each Fund’s individual limited partnership agreement, offering memorandum and other governing documents applicable to each Fund (the “Governing Fund Documents”). All terms are generally established at the time of the formation of a Fund, and are only terminable once the applicable Fund is dissolved, wound up, and terminated. The Investors generally are not permitted to restrict investments by the Funds in any capacity beyond the Governing Fund Documents, and except in limited circumstances, Limited Partners are not permitted to withdraw from a Fund prior to the Fund’s dissolution. Investors participate in the overall investment program for the applicable Fund but in certain circumstances are excused from a particular investment due to legal, regulatory or other agreed- upon circumstances pursuant to the Governing Fund Documents; such arrangements generally do not and will not create an adviser-client relationship between Lime Rock and any Investors. Equity interests in the Funds are not registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and the Funds are not registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”). Accordingly, equity interests in the Funds are offered and sold exclusively to investors satisfying the applicable eligibility and suitability requirements, either in private transactions within the United States or in offshore transactions.