Mid market debt specialist expands out of its energy niche

NGP Capital Resources Company, a business development company with a focus on the energy and natural resources sector, has announced that it has hired a new head of middle market investments, and is changing its investment strategy. The company, which invests mainly in mezzanine debt, says it will now make investments across the mid market, rather than just in energy.

NGP, which is based in Houston, has hired Michael Brown as head of middle market investments from Gladstone, where he was managing director of private finance. A mid-market specialist based in Virginia, Gladstone operates the Gladstone Capital debt vehicle, as well as the more equity focused Gladstone Investments.