Sixth Street Hires Donatella Fanti From Blackstone as Managing Director for Asset Management

Sixth Street has hired Donatella Fanti from Blackstone as managing director for asset management, stepping into a newly created position at the firm, according to reporting published by Green Street News in September 2026.

The appointment was disclosed alongside a broader profile of Sixth Street's European real estate strategy, which has seen the firm deploy approximately $5 billion in global real estate since 2024, including $2 billion in the prior year alone.

A Newly Created Role at Sixth Street

The managing director for asset management position that Donatella Fanti fills did not previously exist at Sixth Street, signaling a deliberate expansion of the firm's operational infrastructure as its European portfolio grows in scale and complexity. Fanti joins from Blackstone, one of the world's largest alternative asset managers.

Sixth Street's European real estate team, led by London-based partner and head of European real estate Giulio Passanisi, now numbers 12 professionals, all based in London. Passanisi, who joined Sixth Street in 2013 from Goldman Sachs, has built the European operation alongside partner Marcos Alvarado, who heads the firm's real estate business in the United States. The combined global real estate team stands at 36 people.

European Real Estate Activity Accelerates

The Fanti hire follows a period of heightened deal activity for Sixth Street in Europe. In July 2026, the firm completed its first real estate investment in Germany, deploying over €350 million to recapitalize a healthcare portfolio managed by Patrizia. The portfolio comprises approximately 20 assets totaling about 30,000 square meters, all leased to MediClin, and focuses on post-acute care — a sector Passanisi described as having durable long-term demand characteristics.

In that transaction, Patrizia remained as investment manager, with K2MB joining as a partner for day-to-day operational and asset management responsibilities. Passanisi noted that the sales process had extended for nearly two years, and that Sixth Street's willingness to offer flexible capital structures — including preferred equity — allowed it to remain engaged when other potential buyers withdrew.

"What really matters is the ability to be flexible and agile enough to tackle any situation," Passanisi told Green Street News. "If you commit to only one asset class, region or part of the capital structure, you are going to miss out on very good deals."

UK Affordable Housing and Industrial Platforms

Beyond Germany, Sixth Street has been expanding its presence in the United Kingdom across two distinct strategies. In April 2026, the firm invested in Park Properties Housing Association, a for-profit affordable housing provider, through a partnership with HSPG. The partnership intends to invest more than £1 billion and has a pipeline of more than 4,000 homes. PPHA has since been selected as a strategic partner in the UK's 2026–36 Social and Affordable Homes Programme, and Homes England granted the platform nearly £150 million to support the delivery of 1,500 new affordable homes.

"The affordable housing market is big, it's mainly non-profit, and it is only just beginning to shift towards for-profit ownership," Passanisi said.

Sixth Street also recapitalized Clipstone Industrial REIT for £330 million, forming the C6 joint venture with Clipstone Investment Management to invest in multi-let industrial assets in London and the South East. The initial portfolio encompasses 41 industrial estates and approximately 2 million square feet, with further acquisitions planned.

Strategy and Outlook

Passanisi described Sixth Street's investment philosophy as thematic, with a focus on assets that exhibit durable demand and where the firm believes it can create value through active asset management.

"We invest in sectors we have real conviction in, for as long as it makes sense, and then we move on to other themes," Passanisi said.

On office real estate, Passanisi said the firm remains highly selective, distinguishing between prime, well-located stock and secondary assets facing obsolescence and elevated capital expenditure requirements. The firm does not plan to open offices outside London in the near term, with Passanisi citing the importance of building team culture through co-location.

Typical holding periods for European investments run approximately five to six years, though Passanisi emphasized that flexibility on timing is central to the firm's approach. Sixth Street said it continues to explore additional opportunities in Germany and across other European markets.

Sources

Green Street News — Q+A: Sixth Street on how to stay in on a deal while others walk away (September 17, 2026)