Sixth Street BDC Tumbles on Quarterly Loss, Dividend Cut

A private credit fund managed by Sixth Street Partners tumbled after lowering its dividend and reporting a quarterly loss, as market-wide volatility eroded the fair value of its loan portfolio.

Sixth Street Specialty Lending, a business development company that makes direct loans, reduced its quarterly dividend to 42 cents a share from 46 cents in the prior three months, it said in a statement Tuesday announcing its first-quarter results.