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Laxman Pai, Opalesque Asia:

The US private equity giant Sixth Street said it's raised $4.4 billion in fresh capital to invest in fast-growing businesses through the investment firm's Sixth Street Growth platform. The funds closed at their hard cap.

The investment major collected $3.6 billion for its second growth equity fund and $800 million for a first-time fund to invest in smaller growth deals. The two new funds focused on investments in growing software companies, as the sector enters a period of greater market dislocation.

Sixth Street's previous growth fund closed in 2019 with $2.2 billion in committed capital and invested in ownership stakes of market-leading software, fintech, and healthcare IT businesses including Airbnb, AvidXchange, Bloomreach, Datavant, Fullsteam, Kaseya, MDLIVE (acquired by CIGNA's Evernorth), SnapLogic, and Sprinklr, among others, said a press release.

"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. "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."

"Today's macroeconomic environment presents an exceptional opportunity for leadership teams with the right capital, strategy, and partners to go on offense and stra......................

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