The Virginia Retirement System (VRS) has invested $50 million in the Lime Rock Resources V, a closed-end fund that targets oil and gas investments in the United States.
The pension fund disclosed the commitment in a document released by its investment department on Thursday. The commitment closed on Oct. 31.
The fund launched in late October and is targeting $900 million in capital commitments, according to an SEC Form D filed by Houston-based Lime Rock Resources.
Lime Rock Resources V’s launch comes three years after the previous fund in the series, Lime Rock Resources IV, closed with $754 Million in capital commitments. Fund III raised $750 million in 2013.
The first four funds in the series secured $2.4 billion in private equity capital commitments and have made 23 major acquisitions in