• Investment-banking firm Upstream Energy Capital has been formed in Denver to provide capital, debt and equity, for development of reserves in the Rocky Mountain and Midcontinent regions. Sources include institutional investors and major end-users including industrial users and electric-power generators. Capital is provided for producing companies and joint-venture investment funds. Principals include Jack Steinhauser, president, Jonas Olmsted, vice president of business development, and Chris Mendrop, VP of investment banking. Steinhauser was president and chief executive officer of Sharon Energy and is the founder of Hunter Stuart Energy Advisors. • Michael Linn, formerly of Meridian Exploration Corp. and Allegheny Interests, and partners have formed Linn Energy LLC, Pittsburgh, with a focus on the Appalachia Basin. Quantum Energy Partners, Houston, has provided $15 million in private equity to the new venture. Linn is president; Gerald W. Merriam, formerly of Schlumberger, is vice president, engineering; and Roland P. Keddie, formerly of EOG Resources, is vice president, land. • Natural Gas Partners, Irving, Texas, has closed the Natural Gas Partners VII LP private equity investment fund at the maximum amount of $600 million. NGP provides $10- to $60 million in equity to North American companies. • Emerging Markets Finance International LLC, Denver, is a new advisor and arranger of private capital for international markets with U.S.-, Canada- and London-based independents. John Works Jr. is the company's managing director. He was head of the international producer-finance division for Shell Capital, Houston; president and chief executive officer for Rompetrol; deputy head of the project-finance advisory group with ABN Amro Bank; and was with JP Morgan. • SGAM/4D Global Energy Fund has made its first closing with $60 million. Société Générale Asset Management, Paris, is sponsoring the fund and has committed $25 million. The fund has a target of $150 million and will invest in profitable, privately owned midmarket companies in the oil and gas industry, primarily in Europe. The fund will make 10 to 15 investments, avoiding speculative exploration, trading or technology risks.
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