#United States #New York City #Private Equity #Truist Financial #Chris Jackson

Truist Financial Establishes Institutional Capital Group

Truist Financial Corporation has made a significant move in the financial services landscape by establishing the Institutional Capital Group (ICG), aimed at servicing middle-market private equity sponsors and select family offices. This new initiative comes in light of a remarkable 84% surge in private equity transactions within middle-market businesses over the past decade, highlighting a growing sector that now demands tailored banking and capital market solutions.

Leadership and Vision

At the helm of this newly launched division is Chris Jackson, a financial expert with over 20 years of experience in capital markets and sponsor coverage. Before joining Truist, Jackson led the Sponsor Coverage Group at Citibank's Commercial Bank, where he honed his skills in building sponsor relationships and directing mid-cap private equity transactions. Jason Cagle, who oversees Specialized Industries and Institutional Capital at Truist, expressed confidence in Jackson’s capacity to enhance the firm’s outreach and influence in this vital market segment.

Jackson’s leadership is poised to address a critical market gap, offering specialized services that complement Truist Securities’ longstanding Financial Sponsors Group, which focuses on large-cap clients. The establishment of ICG not only diversifies Truist's service offerings but also strengthens its position in the competitive financial landscape.

Expanding Coverage and Resources

The Institutional Capital Group will deliver a comprehensive suite of solutions including core banking, payments, and capital markets services specifically tailored for the unique requirements of middle-market sponsors and family offices. Positioned primarily within Truist's existing commercial footprint, ICG aims to enhance relationships with clients who are navigating the complexities of private equity investments.

The team is set to grow further, with plans to integrate more senior bankers and additional resources to support this burgeoning business area. Jackson will be headquartered in New York City, overseeing a dedicated team that includes ICG Director Matt Gormly located in Dallas and Vice President Jamie Citrin from Atlanta.

Strategic Importance of the Middle-Market

The rise in transactions and the increasing number of private equity firms and family offices call for tailored financial services that cater to their specific needs. By segmenting clients based on these distinct characteristics, Truist aims to bolster its relevance in the market and capture a larger share of financial engagement from these institutional players. This focus on middle-market operations aligns with broader economic trends, indicating a robust appetite for investment and growth opportunities within this sector.

Truist’s decision to create ICG is a strategic response to the evolving dynamics of the private equity market, particularly as it relates to middle-market players who often require specialized guidance and support to navigate their financial journeys. The firm is poised to leverage its extensive industry expertise, innovative payment products, and flexible lending solutions to ensure that clients can accelerate their growth and achieve strategic objectives effectively.

Conclusion

As Truist Financial embarks on this new chapter with the Institutional Capital Group, it reaffirms its commitment to empowering middle-market businesses. By offering dedicated services designed explicitly for the unique challenges faced by private equity sponsors and family offices, Truist demonstrates a forward-thinking approach to banking and financial services. As the landscape evolves, Truist is positioned to play a pivotal role in shaping the future of middle-market investments, contributing to greater economic growth in the process.