$75 million offering for Texas Central HSR was oversubscribed

July 22, 2015

Texas Central HSR names new CEO, closes on $75 million and announces Texas investors

TRA In-Depth Coverage:

 
  • Evolution of Project Brings New Leader with Decades of Financial Experience
  • Closed on $75 million first round of development funding
  • All Texas-based investors in this round of funding, including John Kleinheinz of Fort Worth, Jack Matthews of Dallas and Drayton McLane, Jr. of Temple
 
 

Dallas – July 22, 2015 – The Board of Directors of Texas Central Partners (Texas Central) today announced that it has appointed Tim Keith of Dallas as the new Chief Executive Officer for the organization effective immediately. Keith takes the reins from Robert Eckels who spearheaded the early development of the high speed rail project between Dallas and Houston. Eckels will continue to serve on the Board of Directors.

 
Texas Central also announced the closing of a round of development funding that brings $75 million dollars in new capital, all from Texas-based investors into the company. The offering was oversubscribed and the funds will be used to support ongoing development activities. 
 
Texas Central is the private, Texas-based and Texas-led development company that will construct and operate Texas’ first high-speed passenger railway between North Texas and Houston as well as the terminal stations and surrounding development.

As CEO, Mr. Keith will be responsible for leading all aspects of the system’s finance, development, construction and eventual operations. He will also develop and implement Texas Central’s vision for high-speed rail in Texas and serve as the primary interface between internal operations and external stakeholders.

Mr. Keith was selected from a number of potential candidates because of his nearly 25 years of financial and operational experience in large real estate and infrastructure projects. He was formerly the Global Chief Executive Officer of RREEF/Deutsche Bank Infrastructure Investments, where he managed the worldwide operations of the firm’s infrastructure funds management businesses. 

Keith had a 10-year career with RREEF/Deutsche Bank, a New York-based global alternative asset management firm, where he held various senior executive positions and served on the firm’s Global Executive Committee. He was a partner of RREEF America LLC, prior to its acquisition by Deutsche Bank and served as chief executive officer of Cabot Industrial Trust after he led its privatization on behalf of RREEF clients. Mr. Keith previously co-founded HKS Capital Advisors where he served as its Chief Investment Officer. He has also served as an executive at Hunt Realty Investments where he helped found, grow and sell Meridian Industrial Trust.

 

Read the full coverage from Texas Rail Advocates by clicking here.

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