HOUSTON, TX (November 10, 2015)—U.S. Capital Advisors LLC (“USCA”) announced today that it has formally launched its third division, USCA Asset Management, LLC. The firm has simultaneously launched its flagship energy investment vehicle, the USCA Private Energy Credit Fund, L.P., which will provide direct loans and other bespoke credit solutions to higher quality, lower middle market-sized private energy companies in need of growth capital.
Paul Tice joins USCA as a Senior Managing Director and Head of the Energy Capital Group at USCA Asset Management. Mr. Tice will be overseeing the firm’s private energy fund business and will be the manager of the firm’s new Private Energy Credit Fund. Mr. Tice will report directly to USCA’s two Managing Partners, David King and Patrick Mendenhall.
Mr. Tice was most recently with BlackRock in New York, where he was a Managing Director and head of private energy investments for the firm’s Credit business and Americas Fixed Income division. Paul brings over 20 years of energy investment experience to the firm, having been a top II-ranked sell-side energy research analyst, senior investment officer of a proprietary trading business within a large investment bank, and a co-founder and COO of a multi-billion dollar credit-focused hedge fund. Mr. Tice is currently working out of the firm’s Houston headquarters office and will be based in the firm’s newly-established New York office over the next few months.
Kevin Craig also joins USCA as a Director in the Asset Management division where he will be responsible for institutional fundraising and investor relations. Mr. Craig joins USCA from Panda Power Funds in Dallas. Mr. Craig is based in the firm’s Dallas office.
“The formal launch of USCA Asset Management as USCA’s third business division marks an important step in the continued growth and evolution of the firm,” said David King, USCA Managing Partner. “We expect Asset Management to be a material value driver for our clients and shareholders, both on a stand-alone basis as well as through a number of significant synergies across our existing platform.”
“Smaller private energy companies are finding it increasingly difficult to access bank credit and other traditional forms of financing to grow their businesses due to the significant decline in commodity prices and increased volatility in the public capital markets over the past year,” added Paul Tice. “We believe there is now a pressing need for new sources of private capital to allow middle market energy companies to proceed with their development plans and provide a financing bridge to a better point in both the commodity and credit cycles. In our opinion, this presents an opportunity for new private capital providers with investment expertise across the energy value chain, fixed income market experience and the ability to commit and deploy capital quickly.”
About U.S. Capital Advisors LLC
Based in Houston, Texas with additional offices in Dallas and Austin, U.S. Capital Advisors ("USCA") is an integrated financial services boutique with primary business lines in Wealth Management, Capital Markets and Asset Management. USCA's Wealth Management division provides a full range of advisory services and solutions to high net worth individuals and family offices. USCA's Capital Markets division, which includes the firm's, Equity Research, Institutional Client, Investment & Merchant Banking, and Public Finance businesses, advises corporate, institutional and municipal clients. USCA’s Asset Management division includes the Energy Capital Group, which will oversee the private energy and infrastructure investment funds managed by the firm as well as the firm’s multi-manager business which currently manages two funds of funds and a registered closed end fund, which focus on alternative investments for individual and institutional investors. USCA was founded in 2010 and is privately owned. Securities offered through USCA Securities LLC, member FINRA/SIPC; Investment advisory services offered through USCA RIA LLC; Municipal advisory services offered through USCA Municipal Advisors LLC, member MSRB.
David M. King, Managing Partner