Sixth Street (2025)
How is perception on the street now that they hold stakes in the Giants and the Celtics? Is it still a sweatshop or have there been culture improvements? How does comp or perks look? What are the best groups within in strategical capital and fundamental strategies? Do we see them trending away from their special situations DNA towards equity buyouts?
hasn't their healthcare team been killing it recently?
Yeah they have been killing it, killing their juniors
IMO they are one of the two who actually know pure HC service is f and shifting basically to all HC product except their Life Science investing, the other one is Nordic, there is no doubt they are killing it w such a deep involvement in HCIT
Some buyouts just like lying to themselves and think pure HC service still able to survive through roll out but it’s just dead, while some are leading a new path in the new HC world, yes the juniors may seem to be not having any WLB but HC product is a way faster and very high growth vertical now
350k+ comp in global opps (new name for strategic capital) as an associate 1.carry in main fund 3rd year onward.
bump
Where does the energy group fall / how is it?
Genuinely have no idea. only saw them on zoom calls.
How about their insurance investing team?
The firm is considered sweaty, filled with intelligent, sharp elbowed people. Great program and the seniors are genuinely good people. Comp is top of street and good perks (ie. $25 daily lunch stipend) but costs are now more in focus like any other large finance firm
DNA is still special situations and this is true across all groups. Will go after hairier/complex situations in credit and equity than some of the vanilla shops out there
wdym seniors are good people?
Global Opps (Strategic Capital) is their flagship team and do most of the sports investing
Have come across the Fundamental Strategies team and was pretty underwhelmed. Heard their promotion cycles are brutal, and exits haven't been great
How’s the Austin office culture?
Reposting this Glassdoor review I found 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"
Can anyone speak to the above and if some of the negative aspects are applicable to the broader associate experience?
X
bump
bump, does anyone know their consumer & internet team
part of the broader global opportunities fund
I of course know that, asking more abt culture, deal flow, exposure, exit, etc.
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