What Do You Call an Institution That Can Play Anywhere in the Capital Stack? With Sixth Street’s Co-CIO & Co-President Julian Salisbury

In a world where investment classification rules supreme, Sixth Street believes that its flexible architecture, approach, and culture make the firm different. 
  
Sixth Street, founded in 2009, manages more than $130 bn, suggesting flexible capital unlocks opportunities in a world that never stands still.  
  
Sixth Street’s Partner, Co-President & Co-CIO Julian Salisbury is a veteran of 25 years at Goldman Sachs, including former head of its asset management and merchant banking businesses.  
  
Julian discusses how Sixth Street works as One Team with a shared mission to deliver the best investment opportunities for its investors, as well as Sixth Street’s priorities when identifying and sourcing opportunities, industry preferences, timelines, and exits.  
  
He then explores the conundrum of growing assets and preserving alpha and reflects on current obstacles in the private markets.

He also describes “the complexity premium,” changes in the world of direct lending, calibrating risk in an untraditional fund structure and private markets, and more.

The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management*, IFM Investors, World Gold Council and LSEG.

*During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.