Latest views on Sixth Street?
Sixth Street has grown massively since its spin out from TPG and attracted some top-notch talent, particularly from Goldman Sachs. Today, the business is $75 billion AUM and has pockets of capital investing across the capital structure and within substantially all industries. The firm also has a significant insurance presence through Talcott. Will Sixth Street be one of new private credit (broadly defined) behemoths positioned to win and take share from banks alongside Apollo, Brookfield, Blackstone, etc.?
Would be curious the views of any insiders - does it feel like the strategy is well defined or is it disorganized internally? How is it structured? How is the culture? Does it still feel like an SF-centric firm? How is comp / career trajectory?
Based on the most helpful WSO content, here are some insights on Sixth Street:
General Overview:
Strategy and Structure:
Culture and Work Environment:
Compensation and Career Trajectory:
Additional Insights:
For more detailed and specific insider views, it might be beneficial to engage directly with current or former employees on platforms like LinkedIn or through networking events.
Sources: What's it like working in Corporate Strategy?, Any info on Sixth Street Partners?, Thoughts on Centerview SF / Palo Alto (Comp, Culture, etc.), How to Diligence Firm Culture / Determine Fit (Post-MBA / After 2-Year Program), Any insights on Sixth Street Growth?
It’s one higher that fifth street
The line between jamming shitcos with loans at Sixth Street and eating four double smash burgers in a sitting at 7th Street is a fine one, but must be respected
Anyone know who they use for mid-level recruiting?
Any insight?
Associates getting churned out left and right….
Can you elaborate please? Interviewing for one of their offices.
Might depend on group, but it’s a two year program
Hazing game is strong at sixth street
Business-wise / GP perspective they seem hot and with the latest enstar deal it seems like they may be continuing the trajectory to maybe IPO one day. But all tbd
Anyone have any insight into real estate at Sixth Street? What is their main office, SF? What is comp like for ASO?
Great place to be an associate at, specially within their global opportunities (fka strategic capital) team. 3 year path to VP and top of the line comp. coupled with the flexibility to invest across cap structure and a lot of available capital to deploy.
Any data points on VP comp?
No but my Assoc. 1 offer is for high 300s, and you start getting carry as a 3rd year Assoc. - if I extrapolate my offer, I wouldn't be surprised if VP 1 is above 500-550 + carry.
Way below market I heard
Whoever said three year path to VP? Lets be transparent here and let folks know its a two year program aight?
I understand you didn’t get the 3rd your associate promote but that isn’t the way the program is structured. If you perform you will definitely get the 3rd year promote and VP at the end of that - they don’t have a real senior associate position so you get the 3rd year with the assumption that the VP position is yours too.
You don’t have to take my word on it you can literally go to LinkedIn and look at people’s backgrounds.
How easy is it to switch between groups?
Guys if you are considering the healthcare team, whatever you do, do not join, place is an absolute labor camp
Any insight on interview timeline?
Place is a sweatshop but very sharp people across the firm
Yup good brand and they seem to push this whole image of being different from traditional megafunds / finance but at the end of the day its the same stuff packaged in nicer wrapping paper. Also if you are in M&A / Coverage would be very clear if you want to be doing credit because I have heard that they tell people they can do buyouts / equity but in reality that is few and far between.
Same guy as above - top group in a particular coverage that Sixth Street is pretty active in. We market our sell-side deals to SSP all the time and they participate meaningfully in most of our processes, including submitting competitive bids (transactions ranging from $100 MM to $1.5 Bn+). Again, they have historically been more credit focused but they are definitely building out buyout side of their business.
The whole strategy at Sixth Street is being flexible across the cap structure so you will for sure be doing credit, but you also get the traditional PE experience.
Fair, but just once again for transparency sake want folks to know you need to like credit basically and capital structures. The whole thesis of Sixth Street is downside protection + low teens yield so ultimately you will be doing structured investments in the debt / equity and much more rarely common equity because thats too high up the risk spectrum a lot of the time frankly for the firm. Now sure of course they have the flexibility to do some control transactions when it makes sense strategically such as Legends / Enstar, but just don’t expect that to be the majority of deals. Most deals are going to debt and then from there like structured equity / pref and common equity here and there and THEN control common equity deals maybe I could count on one hand maybe two lol
Any info on their direct lending team?
Sweaty
Bump
Bump
If you like bullying and being bullied, you will have a great time
Care to elaborate?
Have on good authority from a friend who left that comp drops off after associate, I.e. good to above market associate comp, but once you start moving it up it starts trending to below avg.
any idea why that is ?
Likely bureaucracy. The mid level is very bloated there
Able give associate comp details?
Yeah I also heard through some sources yet I was MSed lol when I said that…..
Which team was this for?
On good authority knows associate comp is low on the credit side
Another poster mentioned Associates clearing ~$350k+, that seems market for UMM/MF?
on the direct lending team?
Any updates on their 2026 process? Know the HH sent out an email a few weeks ago
heard it's wrapped, but not sure if all locations
Avoid. Sweaty with significant amount of turnover given the churn and burn of Associates
How's comp?
Please absolutely avoid if you can. Comp not worth it.
What level and group were you?
Agree. Comp is above street at the ASO level but not worth the pain. Just take a look on Linkedin at how many folks have left
Do they hire experienced aso laterals?
People I’ve met there seem super smart
Yup - super sharp guys but seem overworked
I think it’s pretty group dependent but I’m sure just like any large fund it’s tough
Found a really helpful Glassdoor review from a former associate called "Successful Fund but Toxic Culture - Associate Sixth Street Employee Review"
"Highly toxic culture, which among other things includes: 1) crazy work hours, even for the investment industry (you will work through holidays and scheduled PTO days), 2) stressful environment, constant and unrelenting pressure which comes from all levels of the firm, 3) intentionally under hire and they pay below market rates because the partners view it as a "privilege" to work at the firm, 4) poor back office practices and support (lack of investment in the plumbing / logistics of the firm), and 5) a review process that intentionally beats people up and views "constructive" criticism as the only relevant feedback Despite all those factors, in both the firm's marketing and how they sell themselves in interviews with candidates they'll frame "culture" as the top focus / asset of the firm - don't buy it"
Seems like the firm has some cultural problems which may attribute to the churn and burn of associates?
Does anyone know if the global opps team is only based in SF?
Nope - global opps is divided into sectors and some of the sector teams sit outside. Infra, for example, sits in NYC.
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