Dallas-based Texas Central Partners, the private development company that will construct and operate the first high-speed rail system in the state, has appointed Tim Keith as its new chief executive.
According to a statement issued on Wednesday, 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”.
Keith’s career included a number of senior executive positions at RREEF/Deutsche Bank, a New York-based global alternative asset management firm, where he worked for 10 years. His most recent role there was global chief executive, infrastructure investments, where he managed the worldwide operations of the firm’s infrastructure funds management businesses.
Concurrent with the appointment of a new chief executive, Texas Central also announced that it had raised $75 million in new capital from Texas-based investors. The offering was oversubscribed and the funds will be used to support ongoing development activities, the company said.
Texas’ bullet train will span 240 miles connecting Houston to Dallas in 90 minutes, according to the Texas Central website. The project, which is completely privately funded, is expected to be operational by 2021.