Sixth Street closed its latest fund, Sixth Street Specialty Lending Europe II, at its €1 billion ($1.2 billion) hard cap, the alternative investment firm said Friday.
The fund will primarily invest in directly originated middle-market European credit and had a €800 million fundraising target, according to a memo to the board of one of the fund's investors, the $55.8 billion Pennsylvania Public School Employees' Retirement System, Harrisburg.
Sixth Street's second direct lending fund exceeds its predecessor fund, the €812 million TSSP Specialty Lending Europe Fund I.
Other fund investors include the $126.3 billion State of Wisconsin Investment Board, Madison, and $79.5 billion Oregon Public Employees Retirement Fund, Tigard.
Sixth Street was formerly known as TPG Sixth Street Partners.
