Sixth Street banks $4.4 billion for growth equity deals

Sixth Street on Thursday said it's raised $3.6 billion for its second growth equity fund and $800 million for a first-time fund to invest in smaller growth deals.

Why it matters: Fundraising continues to run hot, in spite of recession fears, LP denominator effects and deal size shrinkage.

What they're saying: “We feel that the sectors we focus on – like software, fintech and health care IT – are secularly growing, and that the current environment still affords us lots of opportunity,” explains Mike McGinn, co-head of Sixth Street Growth. “The companies we’re partnering with, particularly right now, are those looking to play offense and take share through this period of uncertainty.”