Texas Capital Subsidiary Forms Strategic Private Credit Partnership, Launching New Fund
TCBI sits 37% above its 52-week low of $75.41.
Summary
Texas Capital Alternative Asset Management (TCAAM), a subsidiary of Texas Capital Bancshares, announced a strategic relationship with Phoenix Merchant Partners. This partnership will launch Spurstone Credit, a new perpetual-life, non-traded closed-end credit fund in Q3 2026, focused on direct lending to the core middle market. TCAAM will be a minority economic investor in the fund's adviser. This follows strong Q1 2026 earnings reported in April, though it also comes after significant insider stock sales by the CEO in early June. This partnership expands Texas Capital's ability to offer proprietary private credit financing solutions, leveraging its corporate and investment banking network, and represents a positive step in diversifying revenue streams. The launch of the Spurstone Credit fund is expected in Q3 2026.
At the time of this announcement, TCBI was trading at $103.20 on NASDAQ in the Finance sector, with a market capitalization of approximately $4.5B. The 52-week trading range was $75.41 to $108.92. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.