Sixth Street CEO Ready to Bet Big on Battered Property Sector

Sixth Street Partners Chief Executive Officer Alan Waxman said his firm is ready to capitalize as banks grapple with stress in their real estate portfolios.

“We don’t think this is systemic risk, but there are obviously large exposures, particularly in some of the small and regional-sized banks, and that’s something we’re looking out for,” Waxman said in an interview airing Tuesday on Bloomberg Television. “If rates stay higher, that will obviously create additional stresses.”

Sixth Street, which manages about $75 billion, is leaning into real estate after solidifying its standing as one of the most active dealmakers in the booming ...