Profile: Sixth Street – The San Francisco private equity group making inroads with Spain’s big two
Alamy
Sixth Street were founded by Goldman Sachs employees in the late-noughties and now have $60 billion under management.
The group are now turning to sport with big deals involving the services group Legends, San Antonio Spurs and now Barcelona and Real Madrid.
Why it matters: A succession of US private equity groups have been making inroads into club ownership in Europe, but Sixth Street’s LaLiga deals represent a different model. Could this be the future?
The perspective: Sixth Street are one of the US’s most aggressive and successful funds over the past decade, but a former partner derided the company in court as “a vulture lending firm”
4 August 2022 - 4:43 PM
It started in May with a €360 million deal to develop concerts at the Bernabéu Stadium and help Real Madrid diversify its revenues as it recovers from the financial wreckage inflicted by the pandemic.
Then last month Barcelona saw an initial investment of €207.5 million in return for 10 per cent of the Club’s LaLiga TV rights for the next 25 years. This was followed days later by the sale of another 15 per cent tranche
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