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Alternative Market Briefing

TPG Sixth Street rakes $2.2bn hard cap close

Wednesday, October 23, 2019

Laxman Pai, Opalesque Asia:

TPG Sixth Street Partners, the credit business that's part of buyout giant TPG, closed its first late-stage growth fund, TSSP Capital Solutions, at its $2.2 billion hard cap.

In addition to commitments from the Sixth Street team, the fund raised approximately $2.2 billion of total third-party commitments, reaching its hard cap.

The fund, targeting non-control investments in growth-oriented companies, has already deployed more than $500 million. Capital Solutions has the flexibility to invest in a range of opportunities from $25 million to over $500 million.

"The creation of a dedicated Capital Solutions platform formalizes a strategy Sixth Street incubated through its flagship investment vehicles investing over $3 billion across more than 30 growth-oriented portfolio companies since its inception in 2009," said the company with over $32 billion in assets under management in a press release.

"We are thankful for the support of our limited partners, many of whom have been with our firm over the past decade, as we continue to grow our proven private growth capital solutions strategy in its own dedicated platform," said Robert (Bo) Stanley, Co-Head of Capital Solutions and Partner at Sixth Street.

"Private companies are looking for more options and greater flexibility when funding their next phase of development, and we look forward to creating those solutions," he added.

The current and past investments representative......................

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