Sixth Street Plans to Raise Fund for Sports Ecosystem Investment

Sixth Street, the investment firm known for its stake in the San Antonio Spurs, is making waves in the sports world with plans to raise its first fund dedicated to the sports ecosystem. This new fund will focus on investing in sports teams and leagues, media rights, and related businesses, according to sources familiar with the matter.

Led by CEO Alan Waxman, Sixth Street has already made significant investments in the sports industry, totaling over $2.5 billion through its TAO platform. The firm, which manages more than $75 billion in assets, is part of the ownership group for the NBA’s San Antonio Spurs and co-founded Bay FC, a National Women’s Soccer League team.

In recent years, Sixth Street has expanded its sports portfolio by striking deals with top European soccer clubs like Real Madrid and FC Barcelona. The firm also owns a majority stake in Legends, a sports-experience company, alongside affiliates of the Dallas Cowboys and New York Yankees.

With the hiring of former ESPN executive Russell Wolff as a managing director, Sixth Street is poised to further solidify its presence in the sports investment space. Other alternative asset managers, such as Ares Management Corp. and Arctos Partners, have also raised funds dedicated to sports investments, indicating a growing trend in the industry.

As Sixth Street prepares to launch its dedicated sports fund, investors and industry insiders are eagerly anticipating the firm’s next moves in the ever-evolving world of sports finance. Stay tuned for more updates on this exciting development.