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Phoenix Merchant Partners and Texas Capital Alternative Asset Management Form Strategic Relationship

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Phoenix Merchant Partners and Texas Capital Alternative Asset Management Form Strategic Relationship


Phoenix Merchant Partners, an independent alternative asset manager, and Texas Capital Alternative Asset Management (TCAAM), a wholly owned subsidiary of Texas Capital Bancshares, formed a strategic relationship to provide customized capital solutions and direct lending to the core middle market across a diverse range of industries.

The relationship integrates the corporate and investment banking coverage network of Texas Capital with the structuring, underwriting and multi-cycle portfolio management expertise of Phoenix. Capitalizing on this powerful combination, Phoenix will launch its first vehicle, Spurstone Credit, in Q3/26. Structured as a perpetual-life, non-traded closed-end credit fund, Spurstone will be headquartered in Dallas, Texas.

Spurstone has already attracted interest from a group of anchor institutional investors. The vehicle’s investment mandate will focus primarily on delivering senior secured financing solutions to core middle-market businesses with annual revenues between $100 million and $1 billion that are currently underserved in private credit.

“As the only full-service financial services firm headquartered in Texas, we continuously look for ways to serve the needs of companies and their owners, both in Texas and in our industries of focus across the country. Working with Phoenix expands and accelerates our ability to offer proprietary private credit financing solutions to deserving clients. The Phoenix team shares our disciplined approach to asset structuring, capital preservation and portfolio management, as well as our passion for providing exceptional client service and delivering comprehensive solutions,” Daniel Hoverman, head of corporate and investment banking at Texas Capital and president of TCAAM, said.

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The vehicle’s strategy is designed to address a critical structural liquidity gap for non-sponsored, family-owned and founder-led mid-market enterprises requiring flexible, non-dilutive senior capital to fund organic growth, strategic acquisitions and balance sheet optimizations.

“Proprietary origination remains the single biggest differentiator in the private credit landscape,” Art Mbanefo, founder and CEO of Phoenix, said. “Working with TCAAM unlocks unparalleled access to high-quality, founder-owned businesses across Texas and other economic centers like California, New York and Illinois. Together, we are bridging the liquidity gap for exceptional middle-market companies.”

Spurstone will be advised by a newly formed, Phoenix-sponsored registered investment adviser, Ryestone Advisors, which is currently applying for registration with the U.S. Securities and Exchange Commission. TCAAM will be a minority economic investor in Spurstone’s investment adviser.



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Data centers in Texas prove a key topic months away from midterm elections

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Data centers in Texas prove a key topic months away from midterm elections


As the public backlash to data center construction continues in both suburban and rural parts of Texas, Gov. Greg Abbott is touting that major tech companies like Google, Amazon and Microsoft are signing on to guidelines he has implemented to “ensure data center development does not come at the expense of Texas families or communities.”

The guidelines include undergoing audits from ERCOT and the Public Utility Commission of Texas over electricity use, water consumption, noise and light pollution and other impacts on nearby property owners. Abbott says data center projects that do not comply with the audits will not be approved.

A recent poll by Texas Public Opinion Research shows more than 75 percent of Texans support requiring large AI data centers to disclose water consumption, avoid tapping overused aquifers, fund conservation projects, fund their own grid upgrades, and not pass the costs onto other electricity ratepayers.

State Rep. Vikki Goodwin, a Democrat from Austin and the party’s nominee for lieutenant governor, spoke with Eye On Politics about the issue and said Abbott should call a special session.

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“I would like to have that put into law. Right now, it’s just the governor asking for those things to happen, and what’s the enforcement? We need to have the legislature back that up by, again, having a special session, putting this into law, making sure there’s some way to enforce what the governor is asking for,” Goodwin said.

She also said that Texas should eliminate tax incentives for data centers.

“These companies should stand on their own at this point in time. We see an explosive growth of the data centers, and there’s some thought … we’re overbuilding. And so, the concern about if some of them are built and aren’t used. Ten years down the road, is this going to become kind of like our orphan well situation, where the companies leave or potentially go bankrupt, and we’re left, the citizens of the state, to clean up the mess?” she said.

“There’s also just a huge, vast amounts of water and energy, and there’s real concern about how ERCOT will be able to handle this. Our grid has a capacity, and the amount of energy needed for these new data centers far exceeds the capacity that we currently have. Of course, some of the data centers are bringing in their own energy, building gas-powered plants on-site, or using generators, but we don’t have a handle on how much emissions they are producing. And is that being regulated by the Railroad Commission, or is anyone paying attention to that?” Goodwin said.

Republican Rep. Pat Fallon, whose district stretches from Collin County to East Texas, told Eye On Politics that he supports Abbott’s plan and said the state needs to listen to residents’ concerns.

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“I share the concerns that a lot of our constituents have. And you have to do data centers like anything else, smartly,” Fallon said. “If you do a data center where the local population has bought in, the local government has bought in and local leaders, and I don’t think you really have much of an issue. But when there are concerns, and rightfully so, about noise, about property devaluation, they also want to make sure that you’re not taking precious water resources, and you don’t want to see your electric bill being  increased because there’s a giant data center maybe a mile down the street.”

“The fact of the matter is, with AI and quantum and us competing with China, this is something that we’re going to have to deal with in the future. I think in New York State did a complete moratorium where they said there’s just not going to be data centers in New York. Well, what if some of those local communities actually wanted them because it was going to create jobs and opportunity and maybe even decrease their electric bills? Again, if done correctly. So I think that was not the smart way to do it, because that’s exactly what China wants. They don’t want to see data centers in the United States,” Fallon said.

For his part, President Trump described Abbott’s stance on data centers as a mistake in an interview with Punchbowl News earlier this month. Mr. Trump said data centers could be “bigger than oil.”



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Man killed and resident injured in shooting after altercation at Fort Worth home, police say

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Man killed and resident injured in shooting after altercation at Fort Worth home, police say


A dispute between two men escalated into gunfire Saturday, leaving one fatally shot and another wounded in Fort Worth, police said.

Officers responded just after 3:30 p.m. to the 6900 block of Misty Glen Court in the city’s East Division.

Investigators said a resident arrived and found a man he knew on the property, leading to a verbal dispute. Both men exchanged gunfire. One man was pronounced dead at the scene. The resident was taken to a hospital in an unknown condition, authorities said.  

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Police said the man who was killed had an active protective order against him involving someone who lives at the home. 

CBS News Texas


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According to Fort Worth police, homicide detectives are investigating. The Tarrant County Medical Examiner’s Office will determine the cause and manner of death and release the victim’s identity.

Anyone with information or video of the shooting is asked to contact Fort Worth police at (817) 392‑4222.

CBS News Texas will provide updates as more information becomes available.



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Texas A&M senior DL is a ‘strong candidate’ to breakout in 2026

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Texas A&M senior DL is a ‘strong candidate’ to breakout in 2026


During the first seven practices of Texas A&M’s preseason, Northwestern transfer Edge Anto Saka continues to look like one of the most important offseason acquisitions under third-year coach Mike Elko, while senior defensive tackle DJ Hicks is very close to reaching his elite potential going into his final season in College Station.

A former five-star recruit in the 2023 recruiting class, Hicks earned his starting spot during the 2024 season, but was still ways away from taking the proverbial “next step” as a consistent run defender and reliable interior pass rusher. However, Hicks made significant strides during the Aggies’ historic 2025 season, recording a career-high 26 tackles, four sacks, and 15 pressures.

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Hicks’ rare combination of NFL-level size, strength, and twitch athleticism made him a potential second- or third-round selection in the 2027 NFL Draft, as playing alongside Anto Saka, transfer nose tackle CJ Mims, and a larger linebacker rotation with transfer Ray Coney, senior Daymion Sanford, and rising sophomore Noah Mikhail should help Hicks win a majority of his 1-on-1 matchups.

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This week, NFL Draft analyst Anthony Russo stated that DJ Hicks is a “strong candidate” to be a breakout player for the Aggies this season, which isn’t new if Aggies Wire is part of your weekly Texas A&M sports intake. Russo went on to praise Hicks’ first step off the LOS and solid hand placement as two traits that, with more refinement, should result in the former blue-chip recruit becoming one of the more feared interior defenders this season.

During SEC Media Days last month, Mike Elko proclaimed that the 2026 season is also “DJ Hicks’ time,” and I couldn’t agree more.





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