Sixth Street Partners Mergers and Acquisitions Summary

Asset Manager Profile

In the last 3 years, Sixth Street Partners has acquired 6 companies. It has also invested in 8 others.

Sixth Street Partners’ most common sectors for investment arebusiness services (23%) and information technology (19%) . The Firm’s most common investment types include growth capital (41%) and buyout (lbo, mbo, mbi) (19%). In total, Sixth Street Partners has invested in 11 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Talcott Resolution Life for $2.3B.

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M&A Summary

  • M&A Total Activity22
    • M&A Buy Activity22
  • Total Sectors Invested 10
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 17
  • M&A Advisors 8

Sixth Street Partners

Sixth Street Partners

345 California Street, Suite 3300,
San Francisco, California 94104
United States
www.sixthstreet.com
sixthstreetwebmaster@sixthstreet.com

Sixth Street is a global alternative asset manager and lender that offers a wide range of capital solutions to small, medium, and large companies. The Firm maintains a variety of investment vehicles focused on growth companies, infrastructure, insurance, agriculture as well as other strategies. Sixth Street was established in 2009 and is headquartered in San Francisco, California.


Investment Criteria

Sectors of Interest: Agriculture, Business Services, Communications, Consumer Products, Consumer Services, Energy Services and Equipment, Financial Services, Healthcare Services, Information Technology, Infrastructure, Internet Software and Services, Media, Renewable Energy, Software, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Growth Capital, Recapitalization, Acquisition Financing

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Nordic, Asia/Pacific, Australia/New Zealand

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (2.8/yr) # 8 - 4 5 5 - 22
vol $1.9B $2.3B $898M $1.4B $6.4B
Sell (0.0/yr) # - - - - - - 0
  22

Most Recent M&A

Company Date Value Type
Far West Services LLC 2023-11-07 - Growth Capital
Costa Mesa, California
GreenSky, Inc. 2023-10-11 - Secondary Buyout
Atlanta, Georgia · www.greensky.com
Avid Technology, Inc. 2023-08-09 1.4B USD Going Private
Burlington, Massachusetts · www.avid.com
National Women’s Soccer League LLC 2023-04-04 - Buyout (LBO, MBO, MBI)
New York City, New York · www.nwslsoccer.com
BAFC Holdings LLC 2023-04-04 - Buyout (LBO, MBO, MBI)
Bay Area, California · www.bayfc.com
Pushpay Holdings Ltd. 2022-10-31 898M USD Going Private
Redmond, Washington · www.pushpay.com
Blueprint Medicines Corp. 2022-06-30 - Stake Purchase
Cambridge, Massachusetts · www.blueprintmedicines.com
FC Barcelona 2022-06-30 - Growth Capital
Barcelona, Spain · www.fcbarcelona.com
Real Madrid C.F. 2022-05-19 - Growth Capital
Madrid, Spain · www.realmadrid.com
Nasuni Corp. 2022-03-24 - Growth Capital
Boston, Massachusetts · www.nasuni.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
MindBody, Inc. 2018-12-24 ClassPass, Inc. 2021-10-13 3
San Luis Obispo, California · www.mindbodyonline.com New York, New York · www.classpass.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services 5 (23%) - 5 (23%) -
Internet Software and Services 4 (18%) 898M (14%) 4 (18%) 898M (14%)
Information Technology 4 (18%) - 4 (18%) -
Software 3 (14%) 3.3B (51%) 3 (14%) 3.3B (51%)
Insurance 1 (5%) 2.3B (35%) 1 (5%) 2.3B (35%)
Consumer Services 1 (5%) - 1 (5%) -
Food 1 (5%) - 1 (5%) -
Life Science 1 (5%) - 1 (5%) -
Restaurants 1 (5%) - 1 (5%) -
Retail 1 (5%) - 1 (5%) -
Total 22 $6.4B 22 $6.4B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 20 (91%) 6.4B (100%) 20 (91%) 6.4B (100%)
  California 5 (23%) 1.9B (29%) 5 (23%) 1.9B (29%)
  Massachusetts 3 (14%) 1.4B (22%) 3 (14%) 1.4B (22%)
  New York 3 (14%) - 3 (14%) -
  Ohio 2 (9%) - 2 (9%) -
  Connecticut 1 (5%) 2.3B (35%) 1 (5%) 2.3B (35%)
  Washington 1 (5%) 898M (14%) 1 (5%) 898M (14%)
  Florida 1 (5%) - 1 (5%) -
  Alabama 1 (5%) - 1 (5%) -
  Nebraska 1 (5%) - 1 (5%) -
  Minnesota 1 (5%) - 1 (5%) -
  Georgia 1 (5%) - 1 (5%) -
Spain 2 (9%) - 2 (9%) -
Total 22 $6.4B 22 $6.4B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 9 (41%) - 9 (41%) -
Buyout (LBO, MBO, MBI) 4 (18%) - 4 (18%) -
Going Private 3 (14%) 4.2B (65%) 3 (14%) 4.2B (65%)
Secondary Buyout 2 (9%) 2.3B (35%) 2 (9%) 2.3B (35%)
Stake Purchase 2 (9%) - 2 (9%) -
Divestiture 1 (5%) - 1 (5%) -
Venture 1 (5%) - 1 (5%) -
Total 22 $6.4B 22 $6.4B

Top M&A Advisors

Financial Deals
BofA Securities
 1
Deutsche Bank Corporate & Investment Banking
 1
J.P. Morgan Securities
 1
Legal Deals
Alston & Bird LLP
 1
Goodwin Procter
 1
Willkie Farr & Gallagher
 1

Deal Values

buy # Total
> $1B 3 $5.6B
$100M to $1B 1 $898M
TOTAL $6.4B
Largest Talcott Resolution Life, Inc.
$2.3B (2021-01-20)

M&A Connections

Deals
Acquired from
Investor(s)
9%
2 (9%)
Strategic(s)
14%
3 (14%)

Investor Summary

Investor Type

Asset Manager

Size

Mega

PE Assets

65.0B USD

Established

2009

Specialist/Generalist

Generalist

FAQ

When was Sixth Street Partners founded?

Sixth Street Partners was founded in 2009.

What type of investor is Sixth Street Partners?

Sixth Street Partners is an asset manager.

Where is Sixth Street Partners headquartered?

Sixth Street Partners is headquartered in San Francisco, California.

How much capital does Sixth Street Partners have under management?

Sixth Street Partners has 65.0B USD under management.

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