Our Team

Investment Team

The LKCM Headwater Investments team has over 100 years of collective experience investing in private operating companies, and since 2000 members of our team have collectively completed over 50 platform transactions with 60 follow-on acquisitions, totaling over $700 million of invested capital.  Additionally, several members of our team have direct operating experience, allowing us to better understand the specific challenges that business operators face.  Our portfolio company management teams view our team as active, resourceful partners willing to embrace any business challenge. 

 

In addition to the investment team below, our firm is resourced with back-office, investment capabilities and research of Luther King Capital Management.  Furthermore, we maintain an invaluable set of resources within our portfolio companies, including operating partners, board members and management teams, with whom we have maintained multi-year relationships.

 

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J. Bryan King, CFA
J. Bryan King is a Managing Partner of LKCM Headwater Investments.  As an investment manager, Mr. King has been responsible for micro and small-capitalization public and private investments since 1994. King has acted as the Founder and Managing Partner of LKCM Capital Group since 2000, managing the long/short, microcap, private equity and other alternative investment strategies offered by LKCM.
 
Mr. King established LKCM Industrial Distribution Holdings oversight advisory board for industrial investments made by LKCM Capital Group, and currently serves as Managing Partner or Chairman of the Board of Directors of Relevant Solutions, TestEquity, Lawson Products, Heads Up Technologies, Resource Minerals,  and LKCM Radio Group, as well as a board member on various corporate and civic boards.
 

Mr. King graduated with a Bachelor of Arts in History from Princeton University, received a Ranch Management degree from Texas Christian University, and received a Masters of Business Administration from Harvard Business School.

 


 

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Corbin J. Robertson, III
Corbin J. Robertson, III is a Managing Partner of LKCM Headwater Investments.  Mr. Robertson is also currently an owner of various interests associated with the Robertson family holding company and Quintana Capital Group, a $1 billion energy-focused private equity firm that he co-founded in 2006.
 
Previously, he was Managing Partner of Spring Street Capital Partners LP, a successful small cap long/short hedge fund, a Vice President for Sandefer Capital Partners, a $500 million energy investment fund and a Vice President for Reservoir Capital Group, a $2 billion New York-based investment firm.
 

Mr. Robertson began his career as a business analyst for Deloitte & Touche Consulting Group LLP.  In addition to many civic and charitable boards, Mr. Robertson serves on the boards of LKCM Headwater and Quintana-affiliated portfolio companies.  Mr. Robertson graduated with a Bachelor of Arts in Plan II and a Bachelor of Business Administration in Business Honors and Finance from University of Texas at Austin and a Masters of Business Administration from Harvard Business School.  He also serves as the Managing Member and President of CIII Capital Management, LLC.

 


 

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M. Bradley Wallace, CFA
M. Brad Wallace is a Partner of LKCM Headwater Investments.  Mr. Wallace is primarily focused on private equity investments for the firm, where he is responsible for all aspects of the investment process including sourcing and analyzing new investment opportunities, leading seller and lender negotiations, closing portfolio company investments, and overseeing the implementation of post-transaction operational initiatives.  Mr. Wallace currently serves on the boards of Bearcom, GemSeal, O2Cool and Relevant Solutions.  As an investment professional for LKCM Capital Group, he served for two years as the Chief Financial Officer for a $200M retail chain, where he was responsible for restructuring the business and integration of several acquisitions subsequent to LKCM Capital Group’s initial purchase of the assets out of bankruptcy.
 
Prior to joining LKCM, Mr. Wallace served as Principal and Portfolio Manager for KBK Capital, where he served on the investment committee and was responsible for senior debt, mezzanine and private equity transactions.  While at KBK, he served as a Director and interim Chief Executive Officer of a food manufacturing and distribution company, overseeing the restructuring of its management.
 

Mr. Wallace began his career in finance as an originator and manager of $100 million factoring and asset-based lending portfolio. Mr. Wallace graduated with a Bachelor of Business Administration and a Masters of Business Administration, with the honor of Top Scholar, from Texas Christian University.

 

 

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Andrew D. Zacharias, CFA
Andrew D. Zacharias is a Partner of LKCM Headwater Investments.  Mr. Zacharias currently serves on the boards of Relevant Solutions, TestEquity, Resource Minerals, Applied System Technologies and Heads Up Technologies along with several civic and charitable boards in Fort Worth.
 
Mr. Zacharias previously served as Vice President for Pacesetter Capital Group, executing and managing private equity and mezzanine debt investments in the media, manufacturing and service sectors.  Prior to joining Pacesetter, he served as the CFO and COO of Street Advisor, an independent equity research provider.  Prior to Street Advisor, he was in the Corporate Finance Group at Bear Stearns where he focused on equity and debt offerings, mergers and acquisitions and private placements across numerous industries in the Southwest US.  While in undergraduate school, Mr. Zacharias started his career in finance as an intern analyst for two years for LKCM.
 
Mr. Zacharias graduated with a Bachelor of Business Administration in Finance and Accounting from Texas Christian University.  He completed a joint Masters of Business Administration and Masters in Engineering Management fellowship at Northwestern University’s Kellogg School of Management, where he received the distinction of Austin Scholar.  Mr. Zacharias is a candidate for the Turnaround Management Association’s Certified Turnaround Professional Designation (CTP).
 

 

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Jacob D. Smith
Jacob D. Smith is a Principal of LKCM and serves as the firm's General Counsel and Chief Compliance Officer.  Mr. Smith  assists with the structure and oversight of the private equity and other alternative asset strategies offered by LKCM and LKCM Headwater Investments.

Prior to joining LKCM in 2006, Mr. Smith was an Enforcement Attorney with the United States Securities and Exchange Commission.  He previously was a corporate/securities attorney with Haynes and Boone, LLP.
 
Mr. Smith received his Juris Doctor, Magna Cum Laude, from the Southern Methodist University School of Law.  He also received a Bachelor of Business Administration in Finance, summa cum laude, from the University of Central Arkansas. 
 

 

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Kimberly A. Carter, CFP®
Kimberly A. Carter is a Vice President with LKCM Headwater Investments.  Additionally, she serves as the Public and Private Equity Coordinator and Analytical Support for LKCM Capital Group and LKCM Headwater Investments.  Ms. Carter directly assists in identifying, sourcing and executing transactions, as well as managing communications with limited partners and other outside parties.
 
Prior to joining LKCM, she was a Business Ventures Senior Associate with Lockheed Martin Aeronautics and a graduate of the Financial Leadership Development Program. Ms. Carter graduated from Texas Christian University with a Bachelor of Business Administration in Finance, where she graduated Summa Cum Laude, Phi Beta Kappa, and holds a Masters of Management from University of Phoenix.
 

 

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Michael Bornitz, CFA, CPA
Michael Bornitz is a Principal of LKCM Headwater Investments. During his time with LKCM, Mr. Bornitz has served in numerous roles within the private equity efforts, including all aspects of investment sourcing, evaluation and performance improvement. Additionally, he has served as the CFO for two of LKCM Capital Group’s platform investment strategies.

Prior to LKCM, Mr. Bornitz was a Senior Associate in the Transaction Advisory Services group of Ernst & Young, where he served as an advisor to middle market private equity funds and strategic buyers. In this role he completed numerous engagements primarily focused in the E&P, oilfield services and industrial manufacturing/services/sourcing industries.

Mr. Bornitz graduated Magna Cum Laude from Texas Christian University, where he received both his Bachelor of Business Administration in Finance and Accounting and Masters in Accounting.
 

 

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Robert R. Avery, CFA

Robby Avery is a Vice President with LKCM Headwater Investments. He is involved in all aspects of the investment process, including sourcing investment opportunities, due diligence, structuring, and working with management teams post-close to develop and implement operational and growth strategies.
 
Prior to joining LKCM, Mr. Avery was a Senior Associate at The Riverside Company, a middle market private equity fund, where he evaluated new investment opportunities, performed due diligence and worked with portfolio companies. Previously, he was Senior Manager at Eaton Corporation, a diversified industrial manufacturer, where he was involved in strategic planning and mergers and acquisitions. Mr. Avery began his professional career at ExxonMobil’s Gas & Power Marketing Company.
 
Mr. Avery received a Bachelor of Science in Chemical Engineering with Highest Honors from The University of Texas and a Master of Business Administration with Distinction from Northwestern University’s Kellogg School of Management. 

 


 

 

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Jonathon B. Miller, CFA
Jonathon B. Miller is a Vice President with LKCM Headwater Investments. He is responsible for originating new investment opportunities, conducting due diligence, structuring transactions and working with our partner companies.
 
Prior to joining LKCM, Mr. Miller was a Turnaround Operations Associate for Renovo Capital in Dallas, a Portfolio Manager for NFJ Investment Group in Dallas and a Senior Design Engineer at both Texas Instruments and Emerging Memory Technology.
 
Mr. Miller graduated Summa Cum Laude with a Bachelor of Science in Electrical Engineering from the University of Texas at Austin and holds a Master of Business Administration with honors from Columbia Business School in New York.
 

 

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Joel D. Stewart
Joel D. Stewart is a Vice President with LKCM Headwater Investments.  He is responsible for originating new investment opportunities, conducting due diligence, structuring transactions and working with our portfolio companies.
 
Prior to LKCM, Mr. Stewart was a Vice President at The Presidio Group in San Francisco, where he invested in lower-middle market companies and advised clients on M&A and private placement transactions. Previously, Mr. Stewart was a Principal of 6Pacific Partners, a boutique merchant bank focused on the food, beverage and nutrition industries, and he began his career as an Investment Banker at JPMorgan.
 
Mr. Stewart holds a Bachelor of Business Administration in Finance and Economics from Baylor University and a Masters of Business Administration from The McCombs School of Business at the University of Texas.
 

 

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Rick J. Settle
Rick J. Settle is an Associate with LKCM Headwater Investments and is responsible for originating new investment opportunities, conducting due diligence, structuring transactions and working with our portfolio companies.

Prior to joining LKCM, Mr. Settle was a Financial Analyst in the Global Energy Investment Banking Group at Citigroup in Houston, where he focused on M&A advisory work and public capital raises within the energy industry. Mr. Settle started his career in finance as an intern analyst for LKCM.
 
Mr. Settle graduated Summa Cum Laude with a Bachelor of Business Administration in Finance and Entrepreneurial Management from Texas Christian University.