17.94
+1.64%
Close of 9 Nov 2026, in USD
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About Sixth Street Specialty Lending
From its filings with the US Securities and Exchange Commission
Sixth Street Specialty Lending is based in Dallas, Texas and is incorporated in Delaware. Its shares trade on NYSE under the ticker TSLX. In the fiscal year to 31 December 2025, it reported net income of $170.5m. At that date it held total assets of $3.42bn and shareholders' equity of $1.61bn.
By “middle-market companies,” we mean companies that have annual earnings before interest, income taxes, depreciation and amortization, or EBITDA, which we believe is a useful proxy for cash flow, of $10 million to $250 million, although we may invest in larger or smaller companies on occasion. As of December 31, 2025, our core portfolio companies, which exclude certain investments that fall outside of our typical borrower profile and represent 87.9% of our total investments based on fair value, had weighted average annual revenue of $449.2 million and weighted average annual EBITDA of $127.3 million. As of December 31, 2025, our core portfolio companies had a median annual revenue of $159.4 million and a median annual EBITDA of $48.0 million.
We generate revenues primarily in the form of interest income from the investments we hold. In addition, we may generate income from dividends on equity investments, capital gains on the sale of investments and various loan origination and other fees.
We have operated as a business development company, or a BDC, since we began our investment activities in July 2011. In conducting our investment activities, we believe that we benefit from the significant scale and resources of our Adviser and its affiliates.
Quoted from its 10-K, filed 12 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Capital Markets
- Listed since
- 21 Mar 2014
- Head office
- 2100 MCKINNEY AVENUE, SUITE 1500, DALLAS, TX, 75201
- Incorporated in
- DE
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Joshua EasterlyChairman of the Board, Chief Executive Officer, since 2017
- Mr. Robert StanleyPresident
- Mr. Ian SimmondsChief Financial Officer
- Mr. Michael GrafDeputy Chief Financial Officer, Principal Accounting Officer
- Mr. Anton BrettChief Compliance Officer, Secretary
- Mr. Michael FishmanVice President, Director, since 2011
- Ms. Jennifer GordonVice President, Director, since 2015
- Mr. David StieplemanVice President, Director, since 2011
- Mr. Craig HamrahVice President
- Mr. Joshua PeckVice President
- Mr. Steven PlussVice President
- Mr. Alan WaxmanVice President
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 27
- Environment
- 26
- Social
- 53
- Governance
- 2
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Headquartered in Dallas, Texas, providing a strategic location in the U.S. financial sector.
- Offers a diversified portfolio including senior secured loans, mezzanine, and unsecured debt investments.
- Focuses on middle-market companies within the U.S., targeting specific sectors like transportation and real estate.
Weaknesses
- Relies on direct originations of loans, which may increase operational complexity.
- Limited sector diversification beyond transportation, insurance, education, and real estate.
- Dependent on the investment adviser Sixth Street Specialty Lending Advisers, LLC, for management.
Opportunities
- Expansion into additional sectors beyond current focus areas like transportation and real estate.
- Growth potential in the U.S. middle-market lending sector due to increasing demand for financing solutions.
- Potential to leverage the IPO date of 2014-03-21 for long-term strategic planning and investor relations.
Threats
- Market volatility affecting middle-market lending demand and credit quality.
- Competition from other specialty finance companies in the U.S. market.
- Regulatory changes impacting the financial services industry, particularly for loan originations.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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