11:07 AM EDT, 08/05/2024 (MT Newswires) -- Texas Capital Bancshares ( TCBI ) said Monday it launched a new platform focused on providing non-bank private capital to the middle market.

The Texas Capital Direct Lending platform is expected to focus on senior secured floating rate term loans targeting Texas-based middle-market companies and private equity sponsors, the company said.

Texas Capital said it appointed Tim Laczkowski to lead the new lending business.

The company's shares were down 4.4% in recent trading amid a weak broader market.

Price: 57.76, Change: -2.65, Percent Change: -4.38