Moelis & Co. raised $163 million in its initial public offering, pricing a reduced number of shares below the marketed range in the first U.S. IPO of an investment bank since the financial crisis.

The firm, founded by Wall Street veteran Kenneth Moelis seven years ago, priced 6.5 million Class A shares for $25 apiece, according to data compiled by Bloomberg, after offering 7.3 million shares for $26 to $29. The firm plans to use 80 percent of the proceeds for one-time payments to Ken Moelis, 55, and his partners, regulatory filings show. The rest will be invested in the firm.

Moelis is testing investors’ appetites for newly issued investment-banking shares in the U.S. for the first time since 2007, when FBR & Co. debuted, according to data compiled by Bloomberg. Peers Evercore Partners Inc. and Greenhill & Co. each have dropped over the past month as stock markets tumbled.

With just 317 bankers, Moelis & Co. took in $411.4 million of revenue in 2013. It advised HJ Heinz Co. on its takeover by a group including Warren Buffett’s Berkshire Hathaway Inc.

Goldman Sachs Group Inc. and Morgan Stanley managed the offering. Moelis’s shares will be listed on the New York Stock Exchange under the symbol MC.

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