Northwestern Mutual and Sixth Street announced a strategic partnership in which the insurance company is acquiring a minority passive equity stake in the $100 billion private capital manager, the two companies said in a joint news release.
Sixth Street will manage $13 billion in assets for Northwestern Mutual’s general account phased in over time with the potential to invest more assets, said Patrick Clifford, a Sixth Street spokesman. The firm declined to provide further details beyond the news release. The private capital firm will invest the capital in its multistrategy approach that includes asset-based finance and opportunistic investments in real estate and infrastructure debt and equity.
Northwestern Mutual has $320 billion in a long-term, diversified investment strategy for institutional investors.