The $141.8 billion Washington State Investment Board (WSIB) has approved a $100 million commitment to the Lime Rock Resources V fund, managed by Lime Rock Resources (LRR), at its Nov. 21 board meeting.
Fund V seeks to acquire, operate, and improve lower-risk oil and natural gas properties in the United States, according to WSIB. Launched in late October, the fund is targeting $750 million in capital commitments.
The Virginia Retirement System also invested $50 million in the fund earlier this month.
This will be WSIB’s second investment with Lime Rock Resources, following a $100 million commitment to the third fund in the series in 2013. 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 investment committee of the boardâ
