U.S. Capital Advisors Launches Asset Management Division, New Private Energy Credit Fund

Nov 10 2015 | 8:06pm ET

U.S. Capital Advisors has formally launched its third division, USCA Asset Management, and simultaneously launched its flagship energy investment vehicle, the USCA Private Energy Credit Fund, L.P.

The new fund will provide direct loans and other bespoke credit solutions to higher quality, lower middle market-sized private energy companies in need of growth capital, according to the company.

Managing the fund will be Paul Tice, who joins USCA as a senior managing director and head of the company’s energy capital group. Tice will overseeing the firm's private energy fund business and will report directly to USCA's two managing partners, David King and Patrick Mendenhall.

Tice joins USCA from BlackRock in New York, where he was head of private energy investments for the firm's credit business and Americas fixed income division. He has more than 20 years of energy investment experience, having been a top-ranked sell-side energy research analyst, senior investment officer of a proprietary trading business within a large investment bank, and co-founder and COO of a multi-billion dollar credit-focused hedge fund.  

He will initially work from the firm’s Houston headquarters, but will transition to its newly established New York office over the next few months.

"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 King.  "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

Founded in 2010, Houston-based U.S. Capital Advisors is an integrated financial services boutique active in wealth management, capital markets and asset management. 

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