Invest Like The Best
Episode 433 Building Sixth Street
Invest Like The Best

Episode 433: Building Sixth Street

Invest Like The Best

Episode 433

Building Sixth Street

Alan Waxman is the co-founder and CEO of Sixth Street. We cover the power of flexible capital in a world of siloed funds, why so many investors take risk for granted, and the thesis that led to major partnerships with both Real Madrid and Barcelona.

This episode is brought to you by:

Ramp. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ramp⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠'s Ramp’s mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ramp.com/invest⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to sign up for free and get a $250 welcome bonus.

AlphaSense. ⁠⁠⁠⁠⁠⁠AlphaSense⁠⁠⁠⁠⁠⁠  has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at ⁠⁠⁠⁠⁠⁠Alpha-Sense.com/Invest⁠⁠⁠⁠⁠⁠ and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster.

Ridgeline. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ridgeline⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ridgelineapps.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to learn more about the platform.

Show Notes:

(00:00:00) Welcome to Invest Like the Best

(00:04:57) Introducing Alan Waxman and Sixth Street

(00:05:58) The Formative Goldman Sachs Years

(00:10:21) Unitizing Risk and Return

(00:14:23) Facing the Tiger: Sixth Street's Culture and Values

(00:34:51) Spotify and Airbnb: Case Studies in Investment

(00:39:20) Ambitious Investment Strategies

(00:40:40) Strategic Partnerships in Sports

(00:41:23) Navigating COVID with Airbnb

(00:43:36) Risk and Return Analysis

(00:46:56) Investing in Sports and Live Entertainment

(00:52:23) Developing Investment Themes

(00:55:29) Balancing Leadership and Investment

(00:57:30) The Importance of Culture

(01:10:33) Future Self and Long-Term Vision

(01:15:09) The Kindest Thing Anyone Has Ever Done For Alan

Building Sixth Street

Introduction

Patrick
My guest today is Alan Waxman. Alan is co-founder and CEO of Sixth Street, one of the most unique investment firms, with a go-anywhere, do-anything mandate across asset classes, geographies and time horizons, and over $110 billion in AUM. He describes his journey from CIO of Goldman Sachs' Special Situations Group and the frameworks he brought with him to lay the foundations for Sixth Street.

Alan details their famous investments like Spotify and Airbnb during challenging periods, their innovative sports partnerships with Real Madrid and FC Barcelona, and their $30 billion TAO vehicle that allows them to write billion-dollar checks while keeping individual fund sizes matched to opportunities. We discuss hiring people without egos, enabling a true multi-strategy approach, and Sixth Street's Face the Tiger philosophy. Please enjoy this great conversation with Alan Waxman.

Access the full transcript
Sign in or register to view episode transcripts.

Contact

Get in touch at help@joincolossus.com