Sixth Street has added another $4.4 billion to its platform with an aim to invest in growth companies.
The $60 billion firm said its Sixth Street Growth targets investments in late- and mid-stage growth companies and has invested over $9 billion in more than 70 companies through its Growth franchise since inception.
Sixth Street’s previous growth fund closed in 2019 with $2.2 billion in committed capital and invested in ownership stakes of software, fintech and healthcare IT businesses including Airbnb, AvidXchange, Bloomreach, Datavant, Fullsteam, Kaseya, MDLIVE and Sprinklr.
“Our team partners with market leaders to provide differentiated capital solutions, strategic advice, and a network of resources to promote growth across market cycles,” said Michael McGinn, partner at Sixth Street and co-head of Sixth Street Growth in a statement. “We appreciate the support of our limited partners as we execute our strategy of thematically investing in fast-growing businesses with world-class management teams.”
Sixth Street also announced the formation of its More than Capital business to further enhance the value the firm provides its current and future portfolio companies. The new unit is led by four-time CEO Jeffrey Stone. The operational expertise is offered through an in-house, growth-focused operational team and a network of former CEOs, board leaders and senior executive advisors.
“Today’s macroeconomic environment presents an exceptional opportunity for leadership teams with the right capital, strategy, and partners to go on offense and strategically accelerate their organic and inorganic growth,” said Bo Stanley, partner at Sixth Street and co-head of Sixth Street Growth, in a statement. “We look forward to utilizing the investing and operational expertise we have built across the Sixth Street platform to continue helping companies develop, fund, and achieve their individual plans for their next phases of growth.”
