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New Permian Player Scores $500 Million Equity Commitment
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Three Rivers Natural Resource Holdings III LLC, a newly-formed, Austin-based oil and gas company has announced an equity commitment of up to $500 million from funds managed by energy private equity firm Riverstone Holdings LLC and additional amounts from the Company's management team. The Riverstone commitment comprises up to $333 million from Riverstone Global Energy and Power Fund VI and up to $167 million from Riverstone Energy Limited.
Three Rivers III represents the third partnership between Riverstone and Three Rivers III's management team after the successful sales of substantially all of the assets of Three Rivers Natural Resource Holdings LLC (Three Rivers I) and Three Rivers Natural Resource Holdings II LLC (Three Rivers II). The Three Rivers III team will continue to be led by…
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