Sixth Street Lending Partners
Sixth Street Lending Partners is a private, externally managed BDC that provides senior secured loans, mezzanine debt, and structured equity to upper middle-market U.S. companies with enterprise values above $750 million, leveraging Sixth Street's $130 billion-plus global investment platform.
- Company typePrivate
- Founded2022
- HeadquartersSan Francisco, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Sixth Street Lending Partners does
Sixth Street Lending Partners is an externally managed, closed-end, private business development company (BDC) regulated under the Investment Company Act of 1940. Formed on April 5, 2022, and headquartered in San Francisco with primary operations centered in New York, the firm provides flexible senior-oriented capital solutions to upper middle-market companies in the United States — specifically borrowers with enterprise values greater than $750 million and EBITDA exceeding $75 million. Its portfolio spans senior secured loans (first lien, second lien, and unitranche), mezzanine debt, non-control structured equity, and common equity, with credit facilities typically greater than $200 million. The company operates across more than a dozen verticals, including business services, healthcare, financial services, manufacturing, education, retail and consumer products, internet services, and biotech, supporting use cases such as organic growth, acquisitions, recapitalizations, restructurings, and refinancing.
The firm is managed by Sixth Street Lending Partners Advisers, LLC, a wholly owned subsidiary of Sixth Street — a global investment firm founded in 2009 with over $130 billion in assets under management, 11 global offices, and more than 750 team members including 300+ investment professionals. This connectivity provides SSLP with sourcing, capital-markets, and operating capabilities that would be difficult for a similarly sized standalone BDC to replicate. SSLP funds its lending activities through institutional debt offerings targeted at qualified institutional buyers (Rule 144A) and international investors (Regulation S), including a $600 million 6.500% notes issuance in March 2024 and a $750 million notes issuance in January 2025. Recent notable originations include a senior secured term loan facility of up to $500 million to Beam Therapeutics Inc., disclosed in February 2026.
The business model generates revenue primarily through interest income on its lending portfolio, supplemented by structuring fees and equity co-investment returns. Pricing is not publicly disclosed for individual lending transactions, reflecting the private negotiated nature of upper middle-market direct lending. Leadership transitioned in late 2025 with Robert "Bo" Stanley assuming the sole CEO role on December 31, 2025, succeeding Co-CEO Joshua Easterly, who moved to Chairman. The board and senior team draw heavily from Goldman Sachs, Wells Fargo Capital Finance, Bank of America, and other major financial institutions, with a stated investor-first culture and selective investment philosophy aimed at delivering a high-quality, low-volatility current-yield portfolio.
Sixth Street Lending Partners firmographics
Firmographics- Name
- Sixth Street Lending Partners
- Legal name
- Sixth Street Lending Partners
- Website
- https://sixthstreetlendingpartners.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Sixth Street Lending Partners is a private, externally managed BDC that provides senior secured loans, mezzanine debt, and structured equity to upper middle-market U.S. companies with enterprise values above $750 million, leveraging Sixth Street's $130 billion-plus global investment platform.
- Ownership category
- akta.pro rank
Sixth Street Lending Partners industry classification
Industry- Product category
- Private Credit / Direct Lending
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Large-Cap / Sponsor Finance Direct Lending (FSANADAJ)
- akta.pro secondary industries
- Senior Secured Direct Lending (FSANADAA), Direct Lending — Senior Secured (First Lien) (FSAHAJAA)
Keywords
Where Sixth Street Lending Partners is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices11 records
Markets served
Sixth Street Lending Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Others
Revenue model
- Interest Income from Lending Activities: Revenue generated from providing flexible senior-oriented capital solutions including senior secured loans (first lien, second lien, unitranche), mezzanine debt, non-control structured equity, and common equity investments to upper middle-market companies. The company focuses on generating current yield from its investment portfolio.
- Debt Capital Markets: Issuance of notes to institutional investors (e.g., $600 million offering of 6.500% notes due 2029) to raise capital for lending activities and debt repayment.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels3 records
Sixth Street Lending Partners product offering
Product offeringCore offering
Sixth Street Lending Partners is an externally managed, closed-end private business development company that provides flexible senior-oriented capital solutions to upper middle-market companies in the United States. Its offerings include senior secured loans (first lien, second lien, and unitranche), mezzanine debt, non-control structured equity, and common equity investments, deployed to support organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancings.
Product overview
Sixth Street Lending Partners operates as a single unified offering — an externally managed, closed-end private investment company structured as a Business Development Company (BDC) focused exclusively on lending to upper middle-market companies in the U.S. The company's product portfolio consists of debt and equity capital solutions: Senior Secured Loans (encompassing First Lien, Second Lien, and Unitranche structures), Mezzanine Debt, Non-control Structured Equity, and Common Equity. These products work together to provide flexible capital solutions for various use cases including organic growth, acquisitions, market expansion, restructuring initiatives, recapitalizations, and refinancing. The company was formed on April 5, 2022, and benefits from connectivity with Sixth Street's broader platform of over $130 billion in assets under management.
Differentiator
Problem solved
Functional benefit
Products and services
- Senior Secured Loans
- Mezzanine Debt
- Non-control Structured Equity
- Common Equity
Quantifiable outcome
- $130B+ in assets under management across Sixth Street platforms
- +1 more outcomes
Companies that use Sixth Street Lending Partners
Customer profileNamed customers1 record
Segments8 records
Ideal customer profiles2 records
Sixth Street Lending Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Sixth Street Lending Partners partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Sixth Street Lending Partners competitors and assessment
Company assessmentDirect peers
- Sixth Street Specialty Lending (TSLX): The publicly traded BDC affiliate of Sixth Street, also externally managed and focused on senior secured lending to upper middle-market companies in the U.S. Direct overlap with SSLP in investment strategy, sourcing approach, and Sixth Street platform resources.
- Ares Capital Corporation: The largest publicly traded BDC, providing senior secured loans, mezzanine debt, and equity to upper middle-market borrowers. Highly comparable in product mix, target borrower profile (EV and EBITDA thresholds), and use of a scaled, externally managed structure.
- Blue Owl Capital (Owl Rock / OBDC / ORCC): Direct lending-focused BDCs (OBDC and ORCC) within the Blue Owl platform, providing senior secured loans to upper middle-market companies. Closely comparable origination model, scaled capital base, and emphasis on sponsor and non-sponsor financings.
- Blackstone Private Credit Fund (BCRED): Non-traded BDC managed by Blackstone Credit, providing direct lending solutions to upper middle-market borrowers. Direct overlap in product set, target market, and reliance on a large parent platform for origination and capital.
- Golub Capital BDC: Externally managed BDC providing senior secured, one-stop, and second lien loans to mid-market and upper middle-market companies. Strongly comparable sponsor coverage, direct origination model, and focus on relationship-based middle-market lending.
- Oaktree Specialty Lending (OCSL): Externally managed BDC affiliated with Oaktree Capital, focused on senior secured loans to upper middle-market borrowers. Direct overlap in investment strategy, externally managed structure, and platform-sourced origination.
- Bain Capital Specialty Finance: Externally managed BDC providing senior secured loans and other debt to U.S. middle-market companies, leveraging Bain Capital Credit's broader platform. Comparable product mix, target borrower profile, and externally managed platform economics.
Broad incumbents
- Apollo Investment Corporation (private credit successor): Part of Apollo Credit's broader private credit platform, providing direct lending solutions to middle-market and upper middle-market borrowers. Comparable focus on senior secured and structured credit but offered as part of a much larger, multi-strategy credit franchise.
- KKR Credit (Private Credit Funds): KKR's direct lending and private credit funds provide senior secured loans to upper middle-market companies across the U.S. and Europe. Comparable borrower profile and unitranche-focused product set, delivered through a much larger diversified alternatives platform.
- Carlyle Credit (Private Credit Funds): Carlyle's direct lending franchise provides senior secured financing to upper middle-market companies, often alongside Carlyle's flagship buyout funds. Comparable investment strategy and target borrower profile, scaled through Carlyle's broader private equity platform.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Sixth Street Lending Partners social profiles
Digital presenceSixth Street Lending Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sixth Street Lending Partners leadership team
Management profileNumber of profiles
Profiles19 records
Sixth Street Lending Partners subsidiaries and ownership
Company hierarchySubsidiaries1 record
Sixth Street Lending Partners funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sixth Street Lending Partners M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sixth Street Lending Partners
What does Sixth Street Lending Partners do?
Sixth Street Lending Partners is an externally managed, closed-end private business development company that provides flexible senior-oriented capital solutions to upper middle-market companies in the United States. Its offerings include senior secured loans (first lien, second lien, and unitranche), mezzanine debt, non-control structured equity, and common equity investments, deployed to support organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancings.
Is Sixth Street Lending Partners a public or private company?
Sixth Street Lending Partners is a private company. It is classified as private equity controlled and is currently operating.
When was Sixth Street Lending Partners founded?
Sixth Street Lending Partners was founded in 2022. It employs 11 to 50 people.
Where is Sixth Street Lending Partners based?
Sixth Street Lending Partners is headquartered in San Francisco, United States, in the North America region.
How does Sixth Street Lending Partners make money?
Two revenue lines are on record. Interest Income from Lending Activities are the primary driver. The others are debt Capital Markets.
Who are Sixth Street Lending Partners's main competitors?
Direct peers on record are Sixth Street Specialty Lending (TSLX), Ares Capital Corporation, Blue Owl Capital (Owl Rock / OBDC / ORCC), Blackstone Private Credit Fund (BCRED), Golub Capital BDC, Oaktree Specialty Lending (OCSL) and Bain Capital Specialty Finance. Broad incumbents are Apollo Investment Corporation (private credit successor), KKR Credit (Private Credit Funds) and Carlyle Credit (Private Credit Funds).
Does Sixth Street Lending Partners have an API?
No public API is recorded for Sixth Street Lending Partners.
What industry is Sixth Street Lending Partners in?
Sixth Street Lending Partners's product category is Private Credit / Direct Lending. Its primary akta.pro industry code is FSANADAJ, Large-Cap / Sponsor Finance Direct Lending, with a secondary code of FSANADAA, Senior Secured Direct Lending. Its NAICS code is 525 and its SIC code is 6159.