Weisser, Johnson & Co., Houston, has
formed GasRock Capital LLC to make
direct mezzanine debt investments in oil
and gas as well as midstream energy projects
and companies.
GasRock received commitments from
financial institutions that manage investment
funds exceeding $7 billion.
GasRock’s primary focus is project debt
investments in upstream or midstream
energy projects, or acquisitions of between
$5 million and $50 million, or larger.
“Mezzanine debt has been a preferred
source of capital for domestic independents
for well over the last two decades,”
says Frank Weisser, managing director of
GasRock. “The structure doesn’t have the
control issues of equity, and is far less dilutive,
which is why it is a very popular
source of capital for development projects
and acquisitions.”
Weisser Johnson will act as the manager
of GasRock. Brittany Capital Group
Inc. was advisor to GasRock.