General partners fail by scaling fund sizes beyond actual market opportunity sets
Alan Waxman · The Investment Firm That Can 'Do Anything' | Sixth Street CEO Alan Waxman · Invest Like The Best · Jul 15, 2025 · at 38:34
Alan Waxman is the CEO of Sixth Street. He discusses lessons learned from studying historical GP failure modes when designing Sixth Street's business model.
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“Where people get into trouble as they raise larger and larger funds in a strategy that maybe it's the right time to raise a larger fund, but maybe it's not. It just, it, what's the opportunity set? So they kept raising larger and larger funds”
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