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.