Sixth Street is a global investment firm founded in 2009, headquartered in San Francisco, California. The firm manages over $115 billion in assets and operates across multiple investment platforms, including growth investing, direct lending, infrastructure, and structured products. Sixth Street's mission is to provide flexible, long-term capital solutions to companies at various stages of growth, leveraging a collaborative and cross-platform approach to drive value for its partners and investors.
Key Strategic Focus
Sixth Street's strategic focus encompasses several core objectives:
- Growth Investing: Targeting mid-to-late-stage companies, particularly in sectors like software, fintech, and healthcare IT, to accelerate growth and support strategic initiatives.
- Direct Lending: Providing flexible financing solutions ranging from $50 million to over $2.5 billion to middle-market and large-cap companies across North America and Europe, with a focus on industries such as software, healthcare, retail, and business services.
- Infrastructure and Energy: Investing in power and renewables (solar, wind, hydro), energy sectors (upstream and midstream), and social infrastructure through control and non-control equity, debt, joint ventures, and direct asset-level investments.
- Structured Products: Engaging in asset-based finance across markets including commercial and residential mortgages, renewables, consumer asset classes, infrastructure debt, transportation, and commercial equipment finance.
Financials and Funding
Since its inception, Sixth Street has experienced significant growth in assets under management (AUM):
- 2009: Founded with $2 billion in capital commitments from TPG.
- 2020: Achieved full independence from TPG with $34 billion in AUM.
- 2024: Expanded AUM to over $115 billion.
The firm has attracted investments from notable entities, including a strategic minority investment by Dyal Capital Partners in 2017, valuing Sixth Street at $3.5 billion.
Pipeline Development
Sixth Street's investment portfolio includes significant positions in various sectors:
- Professional Sports: Acquired a 20% stake in the San Antonio Spurs in June 2021 and secured rights to 25% of FC Barcelona's LaLigaSportsTV income over 25 years in July 2022.
- Technology and Consumer Services: Co-led a $1 billion investment in Airbnb in 2020 and a $1 billion convertible investment in Spotify in 2016.
- Healthcare: Led an $830 million growth-equity round for Caris Life Sciences in May 2021.
Technological Platform and Innovation
Sixth Street differentiates itself through its technological capabilities:
- Proprietary Technologies: Developed internal software platforms to analyze large datasets, identify investment trends, and enhance decision-making processes.
- Scientific Methodologies: Utilizes data-driven approaches and machine learning algorithms to assess investment opportunities and manage risk.
Leadership Team
Sixth Street's leadership comprises experienced professionals:
- Alan Waxman: Co-founder and CEO, previously a partner at Goldman Sachs.
- Clint Kollar: Co-founder and Chief Origination Officer, overseeing sourcing and structuring investments.
- Michael McGinn: Co-head of Sixth Street Growth, leading strategic partnerships and scaling initiatives.
- Robert (Bo) Stanley: Co-head of Sixth Street Growth, focusing on growth investments and client relationships.
- Martin Chavez: Vice Chair, contributing expertise in technology and innovation.
- David Stiepleman: Co-founder and Co-president, managing operational processes and investment planning.
- Keith Barr: Senior Operating Advisor, guiding business operations and transformation strategies.
- Kristi Turner: Senior Operating Advisor, advising on talent strategy and organizational development.
Leadership Changes
In March 2022, Michael Dryden joined Sixth Street as a Partner to lead the firm's structured products business, bringing experience from his previous role as global head of securitized products finance at Credit Suisse.
Competitor Profile
- Market Insights and Dynamics: The private credit market is experiencing rapid growth, with firms like Sixth Street expanding their presence to meet increasing demand from corporate borrowers.
- Competitor Analysis: Key competitors include Ares Capital and Apollo Global Management, both significant players in the private credit sector, offering similar investment solutions and targeting comparable markets.
Strategic Collaborations and Partnerships
Sixth Street has engaged in notable collaborations:
- San Francisco Giants: Acquired a 10% stake in March 2025, with funds allocated for infrastructure improvements and community projects.
- Legends Hospitality: Acquired a majority interest in January 2021, expanding its presence in sports and live entertainment services.
Operational Insights
Sixth Street's competitive advantages include:
- Flexible Capital Base: Ability to provide tailored financing solutions across various asset classes and industries.
- Cross-Platform Collaboration: Integrated approach leveraging expertise across investment platforms to deliver comprehensive solutions.
- Global Reach with Local Expertise: Presence in key financial centers worldwide, enabling access to diverse investment opportunities and local market insights.
Strategic Opportunities and Future Directions
Sixth Street aims to:
- Expand in the Sports Sector: Launching a dedicated sports fund focused on teams, leagues, media rights, and related ventures.
- Enhance Technological Capabilities: Collaborating with partners like Amazon Web Services to integrate generative AI into investment strategies.
- Grow European Presence: Increasing recruitment and establishing new headquarters in London to capitalize on private credit and real estate opportunities.
Contact Information
- Website: sixthstreet.com
- LinkedIn: Sixth Street
