(Bloomberg) — Sixth Street, which has made bets on companies including Airbnb Inc. and Spotify Technology SA, hired TCV general partner Nari Ansari as a managing director.
San Francisco-based Ansari will report to Sixth Street’s co-heads of growth Bo Stanley and Michael McGinn, a Sixth Street spokesman said.
Ansari joined TCV in 2006 and was named general partner in 2018. At TCV, he focused on investments in the software, healthcare IT, fintech and tech and data-enabled services sectors, serving on boards of companies including Perceptyx, HireVue, Watermark, Kipu Health and OneSource Virtual.
Ansari’s hire comes as Sixth Street, an alternative asset manager, seeks capital to back fast-growing companies. It’s targeting $3.4 billion for Sixth Street Growth Partners II, which will focus on late-stage growth companies, and $750 million for Sixth Street Mid-Stage Growth Partners, which will target companies at an earlier stage of their life-cycle, according to a November New Jersey State Investment Council memo. Sixth Street’s wagers may be structured as equity, debt or a hybrid of both, the memo shows.
Separately, Stanley has moved to Austin, where Sixth Street recently hired Jeff Stone, the former CEO of companies including Compeat, MarketTools and Tiburon. Stone will build out a team focused on providing strategic growth advice to founders, the Sixth Street spokesman said.
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