Press Release

Morgan Lewis Advises Lime Rock Resources on its $754 Million Fund IV

May 25, 2016

BOSTON, May 25, 2016: Morgan Lewis advised private equity firm Lime Rock Management in connection with the $754 million closing of Lime Rock Resources IV, the fourth in a series of funds established by Lime Rock Resources to acquire, improve, and directly operate producing oil and gas properties in the United States.

The Lime Rock Resources team launched the fundraising process for Fund IV in November 2015, held its first close in February 2016, and its final close in May 2016. The previous Lime Rock Resources fund, Lime Rock Resources III, held its final close in October 2013 on $750 million in investor capital commitments. Since inception in 2005, the Lime Rock Resources’ funds have made 23 major acquisitions in basins throughout the United States.

As lead counsel, Morgan Lewis advised Lime Rock on the fund’s structuring and corresponding securities documentation and investor negotiations. The Morgan Lewis team was led by funds partner Gerald Kehoe. Support was provided by partners Akshay Belani, Richard Zarin, and Michael Richman; of counsel Susan Cohen; and associates Daniel Losk and Meredith Klionsky.

“Morgan Lewis is pleased to have worked with Lime Rock during the past year, especially most recently in the closing of Lime Rock Resources IV,” said Mr. Kehoe. “It has been a real pleasure working with Eric Mullins, Charlie Adcock and the whole Lime Rock team, and the fact that the fund closed so successfully in just six months of marketing is a great reflection on the Lime Rock Resources team and its track record.”

Read the press release issued by Lime Rock Resources.

Morgan Lewis’s private funds practice advises funds, managers, investment companies, investment advisers, broker-dealers, banks and trust companies, insurance companies, institutional investors, and other industry participants around the world on formation, investment, transactional, regulatory, and compliance issues. With more than 130 lawyers, the firm’s private funds practice is recognized by global clients as a leading practice in the industry guides released annually by distinguished legal directory publishers such as Chambers & Partners, Legal 500, US News & World Report, and the Dow Jones Private Equity Analyst. In 2015, the team advised on the offering of more than 100 private funds formed for private investment fund clients and reviewed more than 600 funds for limited partner investors.