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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...................... To view our full article Click here
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