Alan Waxman, CEO of Sixth Street, has made headlines with a new investment in the San Francisco Giants, acquiring about 10% of the team. This move is part of a broader trend in Major League Baseball (MLB) where private equity firms are allowed to buy minority stakes. Following MLB's 2019 approval of such investments, the Giants had previously sold a portion of their equity to other firms, facilitating a shift in how teams are financed and owned.
"MLB approved investment funds to buy minority stakes in teams in 2019 and since then, the Giants have sold a reported 2% stake to Arctos Partners."
"Waxman grew up in Austin, Texas, and he wanted to play soccer in college for the University of Texas, but since the Longhorns didn’t have a Division I team."
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