Lime Rock Partners

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New Mexico’s PERA, which has $170m allocated for private equity this year, has made its first commitment to Lime Rock Resources, a division of Lime Rock Partners.

The $7.7bn endowment re-upped $25m to Lime Rock Partners VI along with commitments to a pair of venture capital firms and a real estate fund.

Among its personnel changes, the global energy investor has added three new managing partners and has hired an assistant general counsel.

The private equity firms have purchased publicly listed Industrial Rubber Products, a manufacturer of protective coatings for pipelines, for $16.50 per share.

The energy-focussed private equity firm has nearly doubled the size of its previous fund in a three month period that involved ‘very little proactive marketing’.

Lime Rock Partners, a Connecticut private equity firm, today announced the closing of its fourth energy-focused fund on $750m, nearly as much as its three previous funds combined.

Townes Pressler, co-founder of an independent oil and gas producer and former energy banker, has joined the energy-focused private equity firm as a managing director.

The awards for secondaries deals, firms, advisers and law firms in Europe, Asia and the Americas

Single-asset restructurings have exploded in popularity over the past 12 months, but are not to everyone’s taste.

The pioneers of the sub-asset class wouldn’t recognise some of today’s transactions as belonging to the same market.

The Houston-based firm invests in in oil and gas properties throughout the Permian Basin, Texas Gulf Coast and the mid-continental regions of the country.

The $29.3bn Pennsylvania State Employees’ Retirement System has put off approving commitments to two private equity and two venture funds, including Hellman & Friedman’s latest vehicle. The pension reported an investment return of -14.4% through the third quarter.

Save for the highly leveraged power industry, which has had deal activity all but freeze, GPs speaking at PEI’s Energy Forum in New York today said business is booming and credit conditions are fuelling deal flow.

The Carlyle Group has promoted eight professionals to managing director in its US offices in a bout of global appointments.

The Houston energy-sector investor’s fourth fund follows its participation in the raising of Quantum Resources, a $1.2bn oil and gas reserves fund, with Aspect Energy in October.