Texas Capital Bancshares, the parent company of Texas Capital, launched its Texas Capital Direct Lending (TCDL) platform. Focused on providing non-bank private capital to the middle market, TCDL will form an integral part of Texas Capital’s corporate and investment bank. Texas Capital expects TCDL to focus on senior secured floating rate term loans targeting Texas-based middle market companies and private equity sponsors.
Concurrently with the announcement, Texas Capital hired Tim Laczkowski as a managing director. Laczkowski will be responsible for leading the firm’s new direct lending business, including fund management, underwriting, investment and portfolio management for TCDL.
“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,” Daniel Hoverman head of corporate and investment banking for Texas Capital, said. “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.”
Based in Dallas, Laczkowski brings more than 20 years of debt and equity investing experience to Texas Capital. Previously, he served as founder and partner of Altacrest Capital, a Dallas-based private equity firm.
Texas Capital Direct Lending, in combination with the broader Texas Capital platform, will seek to provide a seamless source of capital for its borrowers. TCDL intends to lend to middle market companies generating between $5 million and $50 million in EBITDA, with a primary focus on companies between $10 million and $30 million in EBITDA. The strategy will benefit from Texas Capital’s corporate and commercial banking coverage teams, who are already dedicated to serving clients and prospects across Texas.
“Adding a private capital funding option for middle market companies extends our reach as a full-service financial institution,” Laczkowski said. “It is an honor to join Texas Capital to build out our direct lending platform and capabilities and to further differentiate ourselves in the market.”
