Independent Bankers Capital Funds

We provide junior capital to profitable lower-middle-market manufacturing, distribution and service companies, primarily in Texas.

Independent Bankers Capital Funds

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Investment Professionals

Barry B. Conrad

Managing Member

Mr. Conrad co-founded IBCF in 2000 and has been instrumental in IBCF’s success to date. From 1988 to 1998, he was a Founding and Managing Partner of Conrad/Collins Merchant Banking Group Ltd., a boutique merchant banking firm sponsoring lower-middle-market buyout and recapitalization transactions.

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Bill Miltenberger

Managing Member

Mr. Miltenberger rejoined IBCF in 2010 where he, as part of the general partner, focuses on sourcing, structuring, analyzing, and negotiating direct junior capital investments into lower-middle market companies. Prior to rejoining IBCF, Mr. Miltenberger worked at Highland Capital Management, a $25 billion alternative investment asset manager.

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Meg Taylor

Managing Member and Chief Financial Officer

Ms. Taylor joined IBCF in 2000 and has been in the private equity and investment banking industry since 1990. Since joining IBCF, Ms. Taylor has also assisted in the formation and operation of several other private equity funds.

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John Dyar

Vice President

Mr. Dyar joined IBCF in 2015 and is responsible for sourcing, structuring, analyzing, and negotiating direct junior capital investments into lower middle market companies. Prior to joining IBCF, Mr. Dyar started his career in the valuation practice of EY’s Transaction Advisory Services division.

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Barry B. Conrad

Managing Member

Mr. Conrad co-founded IBCF in 2000 and has been instrumental in IBCF’s success to date. From 1988 to 1998, he was a Founding and Managing Partner of Conrad/Collins Merchant Banking Group Ltd., a boutique merchant banking firm sponsoring lower-middle-market buyout and recapitalization transactions. From 1983 to 1988, he served as Senior Vice President and Manager of the Corporate Finance Department at Rauscher Pierce Refsnes, Inc., a Dallas-based regional investment bank. From 1974 to 1983, he was CEO of Hart Delta, Inc., a Baton Rouge, Louisiana-based pharmaceutical manufacturing company. Prior to that time, he was a partner at Howard, Weil, Labouisse, Friedrichs & Company and a predecessor company, Viguerie Hayne & Chaffe, Inc., both of which were New Orleans-based regional investment banking firms. In these capacities, he has been involved in a substantial number of public offerings, private placements, mergers, acquisitions, and other investment banking transactions. Mr. Conrad holds an AB degree from Marshall University.

Bill Miltenberger

Managing Member

Mr. Miltenberger rejoined IBCF in 2010 where he, as part of the general partner, focuses on sourcing, structuring, analyzing, and negotiating direct junior capital investments into lower-middle market companies. Prior to rejoining IBCF, Mr. Miltenberger worked at Highland Capital Management, a $25 billion alternative investment asset manager. He started at Highland in 2006 as Senior Portfolio Analyst and was promoted to Portfolio Manager prior to leaving the firm in 2010. At Highland, Mr. Miltenberger managed investments in a $1 billion portfolio focused on the merchant power industry, where he was responsible for identifying stressed and distressed opportunities for inclusion into the portfolio, monitoring performing and non-performing assets, and participating on steering committees and company restructurings. Mr. Miltenberger’s performance was consistently in excess of the benchmark index returns. In 2002, Mr. Miltenberger joined the team at IBCF for the first time as Senior Associate. Before joining IBCF, Mr. Miltenberger worked at Hibernia Capital Corporation as Venture Capital Officer. Mr. Miltenberger received his MBA from the Kellogg School of Management at Northwestern University with majors in Finance and Strategy and graduated from Loyola University New Orleans with a BBA.

Meg Taylor

Managing Member and Chief Financial Officer

Ms. Taylor joined IBCF in 2000 and has been in the private equity and investment banking industry since 1990. Since joining IBCF, Ms. Taylor has also assisted in the formation and operation of several other private equity funds. From 1995 to 1999, she was Controller of Hicks, Muse, Tate & Furst Incorporated, a Dallas-based investment firm specializing in leveraged acquisitions and private equity investments. From 1990 to 1994, Ms. Taylor was Assistant Controller of Sunwestern Investment Group, a Dallas-based venture capital company. From 1987 to 1990, she was employed by Ernst & Young in the audit division. Ms. Taylor is a Certified Public Accountant, and has a BBA in Accounting from Texas Tech University.

John Dyar

Vice President

Mr. Dyar joined IBCF in 2015 and is responsible for sourcing, structuring, analyzing, and negotiating direct junior capital investments into lower middle market companies.  Prior to joining IBCF, Mr. Dyar started his career in the valuation practice of EY’s Transaction Advisory Services division, where he performed valuations of public and private business enterprises, legal entities, intangible assets and preferred and common equity interests. His primary focus was performing mark to market valuations for private equity clients in the upstream oil and gas sector. Mr. Dyar received his BBA in both Finance and Economics from Southern Methodist University in December 2011.

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