Who Are the Sixth Street Partners?

Wanting to learn more about Sixth Street Partners and their different strategies [TAO, Growth, Specialty Lending, Opportunities]. What types of backgrounds/banks do they recruit from, what are typical hours/comp, and which strategies sit out in SF as opposed to NYC? Any additional color would be helpful!

 
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By the time the split happened Sixth Street was effectively independent and barely shared any resources w/ TPG. Used to be they collaborated on certain transactions together and that was part of their pitch, but that became a lot rarer over time. TPG started wanting to do more Sixth Street type deals, and Sixth Street started wanting to do more TPG type deals, so the split made sense. Also allows Sixth Street to capture more of their economics in the long run and not have to share w/ TPG.

 

The Sixth Street Partners sit between The Fifth Street Partners and The Seventh Street Partners

 

Special situations group that spun out of TPG. My understanding is that while they are now dabbing more into growth-y situations, their investments typically still come in the form of structured securities (e.g., preferred with PIK) which helps them get to a lower effective TEV. Path to get there is similar as any other—associates go there from banking.

 

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