Texas Capital launches direct lending platform
Texas Capital has launched its inaugural direct lending strategy focused on middle market companies in the US state.
The new platform will form an integral part of Texas Capital’s corporate and investment bank, and will enable its clients to access a wider array of capital solutions.
The strategy will focus on senior secured floating rate term loans, targeting Texas-based middle market companies generating between $5m (£3.9m) and $50m in EBITDA, with a primary focus on firms between $10m and $30m in EBITDA.
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Texas Capital has appointed Tim Laczkowski as a managing director to lead the direct lending business, including fund management, underwriting, investment and portfolio management.
He has more than 20 years of debt and equity investing experience, having served as founder and partner of Altacrest Capital, a Dallas-based private equity firm.
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“The launch of the direct lending platform is a significant milestone for Texas Capital, as we will be able to provide clients with direct access to private credit funding while leveraging our industry expertise; breadth of product and services; and leading treasury, payments and investment banking capabilities,” said Texas Capital’s head of corporate and investment banking Daniel Hoverman.
“We fundamentally believe that business owners should have access to Texas-based financing options. We trust that the TCDL platform will provide a welcome resource for ambitious, growth-oriented companies in the middle market. Under Tim’s leadership, complemented by our robust private wealth, sponsors coverage and capital markets businesses, we are confident that Texas Capital can deliver our clients financing options to address an array of strategic challenges.”
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