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Sixth Street Sees Leadership Shuffle Amid Industry Woes
24 Feb
Summary
- Joshua Easterly retires after co-founding the $125B firm.
- New co-presidents and co-chief investment officers named.
- Firm anticipates strong returns despite private credit challenges.
Joshua Easterly, a pivotal figure in building Sixth Street Partners into a major private capital manager with over $125 billion in assets, is retiring. He will step down as co-president and co-chief investment officer on June 30. This transition marks a significant moment for the firm, which was established in 2009.
Julian Salisbury and Matt Dillard have been appointed co-presidents, with Dillard and Bornah Moghbel joining Salisbury as co-chief investment officers. Mike Muscolino, another co-founder, will assume the role of vice chairman and chief strategy officer. Easterly will remain as a partner emeritus.
Easterly cited personal reasons for his departure, including wanting to spend more time with his daughters. He expressed confidence in Sixth Street's future, stating the firm is well-positioned for strong performance. This leadership evolution occurs as the private credit industry faces increasing challenges, including potential return pressures and recent market volatility, as observed with other managers like Blue Owl Capital.
