TPG Sixth Street Partners (Sixth Street), a global finance and investment business with over USD32 billion in assets under management, has closed the first TSSP Capital Solutions (Capital Solutions) platform fund with USD2.2 billion in third-party capital commitments.
Capital Solutions, which makes non-control investments in growth-oriented companies. is actively investing out of the fund and has already deployed over USD500 million.
The Capital Solutions team partners with companies to provide bespoke, accretive financing solutions that often differ from traditional growth equity. Capital Solutions has flexibility to invest in a range of opportunities from USD25 million to over USD500 million.
The creation of a dedicated Capital Solutions platform formalises a strategy Sixth Street incubated through its flagship investment vehicles investing over USD3 billion across more than 30 growth-oriented portfolio companies since its inception in 2009.
“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,” says 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.”
“We are excited to work with great management teams seeking to grow their businesses and are proud to be their partner in helping them achieve their strategic goals,” saisaysd Michael McGinn, Co-Head of Capital Solutions and Partner at Sixth Street. “Our team’s deep sector expertise combined with our ability to provide flexible and customised financing is the key to our partnership-driven investment philosophy.”
Select current and past investments representative of the Capital Solutions platform include AirTrunk, AvidXchange, Clinicient, Kyriba, Lucidworks, Paycor, PayScale, PaySimple and Spotify.
