First Citizens Bank and Sixth Street Launch Equipment Financing Joint Venture

First Citizens Bank and Sixth Street, a global investment firm, launched Sixty-First Commercial Finance, a joint venture platform focused on equipment financing. The platform is designed to serve mid- and large-ticket capital equipment financing needs, with deal sizes ranging from $5 million to $100 million. First Citizens Bank contributes its banking infrastructure, regulatory expertise, and client relationships, while Sixth Street brings its investment capital and credit origination capabilities.

The joint venture combines traditional bank lending with alternative capital to address a segment of the equipment finance market that requires scale and flexibility. Sixty-First Commercial Finance aims to serve businesses across multiple industries that need significant capital equipment investments. The partnership reflects a growing trend of banks and investment firms collaborating to offer specialized lending products.

By pooling resources and expertise, the joint venture can underwrite larger and more complex equipment financing transactions than either party might pursue independently. Financial details of the capital commitment to the joint venture were not publicly disclosed.