Texas Capital Forms Strategic Relationship with Phoenix Merchant Partners
Texas Capital Bancshares' wholly owned subsidiary Texas Capital Alternative Asset Management and Phoenix Merchant Partners, an independent alternative asset manager, announced a strategic relationship to provide customized capital solutions and direct lending to the core middle market across a diverse range of industries. The strategic relationship integrates the corporate and investment banking coverage network of Texas Capital with the structuring, disciplined underwriting, and multi-cycle portfolio management expertise of Phoenix. Phoenix will launch its first vehicle, Spurstone Credit, in Q3. Structured as a perpetual-life, non-traded closed-end credit fund, Spurstone will be headquartered in Dallas, Texas. The vehicle's investment mandate will focus primarily on delivering senior secured financing solutions to core middle-market businesses with annual revenues between $100M and $1B that are currently underserved in private credit.
