The Investment Firm That Can 'Do Anything' | Sixth Street CEO Alan Waxman

Alan Waxman, CEO of Sixth Street, shares insights from his journey from Goldman Sachs' Special Situations Group to building one of the most flexible investment firms in the world. He discusses the concept of "unitizing risk and return" across asset classes, his firm's unique approach to go-anywhere investing, and notable deals including Spotify, Airbnb, and Real Madrid. Waxman explains how Sixth Street's culture of collaboration and entrepreneurial mindset enables them to create bespoke solutions for CEOs through whiteboarding sessions. He also reflects on mentorship, the importance of asking questions, and building a firm that prioritizes being investor-first while maintaining strong culture and values.

TIMESTAMPS:
0:00 Intro
0:38 The Formative Goldman Sachs Experience
5:58 Unitizing Risk and Return
10:09 Facing the Tiger: Culture and Values
24:55 The Genesis of Sixth Street
34:09 Spotify and Airbnb Investments
37:52 The Flexibility of TAO
41:42 COVID-19: Playing Offense
44:42 Analyzing Risk and Business Models
48:35 Investing in Sports and Live Experiences
54:44 Developing Investment Themes
58:16 Personal Development and Firm Culture
1:19:00 The Future of Sixth Street
1:21:52 The Kindest Thing

#InvestLikeTheBest #SixthStreet #AlanWaxman #PrivateEquity #Investing #GoldmanSachs #Spotify #Airbnb #RiskManagement #AlternativeInvestments

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Patrick O'Shaughnessy is the CEO of Positive Sum. All opinions expressed by Patrick and podcast guests are solely their own and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Positive Sum may maintain positions in the securities discussed in this podcast. To learn more, visit psum.vc