Newly formed, Houston-based mezzanine energy investment firm NGP Capital Resources Co. has completed its initial public offering, pricing 16 million shares at $15 each, raising $240 million for investment in small and midsize firms. The firm will invest primarily in E&P companies but may also do deals in the midstream, downstream, utilities and coal businesses. Investments will range from $10- to $50 million in size, generally, as debt with some equity component. The firm, which is structured as a business development corporation, was formed this summer by energy private-equity firm Natural Gas Partners and is led by John Homier as president and chief executive and by Richard Bernardy as chief financial officer. Homier and Bernardy were previously with M1 Energy Capital Securities LLC, Deutsche Bank and Banc of America Securities. Natural Gas Partners reports that the mezzanine investment vehicle will complement, rather than compete, with its main private-equity business. Unlike a private-equity fund, this mezzanine fund will exist indefinitely, similar to a mutual fund. Raymond James was sole book-runner and joint lead manager of the IPO with Friedman Billings Ramsey. Shares traded between $14.99 and $15.09 on the first day of trading on Nasdaq as NGPC. -Petroleum Finance Week

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