Fundraising

It’s easier than ever to participate in private markets, though GPs shouldn’t expect individual investors to be the only answer to plugging capital-raising gaps.

Sixth Street created the strategy in response to demand from borrowers and private equity sponsors to bring more capital into the “underserved” large-deal market, sources told Buyouts.

LPs have been asking must-have GPs to keep their funds open into the new year, eating into allocations for those planning a return to market in 2023.

Compressed fundraising cycles mean investment professionals at both GPs and LPs are taking advantage of more opportunities to jump ship, sources tell PEI.

The firm is among numerous first-time managers in the market seeking to attract capital despite the challenges of the current fundraising environment.

The fund will target direct co-investment and secondary investment opportunities "to generate attractive income and total returns."

TCG straddles the line between venture capital and growth equity, backing young and aggressive companies like Barstool Sports, Exploding Kittens and Goldin Auctions.

RCPDirect IV's LPs include endowments, foundations, public pension plans, family offices, and high-net-worth individuals.

The fund has already done two deals, backing Ministry Brands, a software solutions provider to faith-based organizations, and CAIS, an alternative investment marketplace for financial advisers.