Sixth Street Targets $4 Billion for Newest Opportunities Fund

Sixth Street Partners is seeking to raise at least $4 billion for its newest opportunities fund, according to people with knowledge of the matter.

The firm has started early discussions about the vehicle, Sixth Street Opportunities Partners VI, with potential investors, said the people, who asked not to be identified discussing private information. Sixth Street is set to charge fees on invested capital in the fund rather than on commitments, matching terms introduced by rival firms over the past several years, they added.

The fund’s mandate includes making credit and equity bets across various industries including biotechnology, energy and sports, ...