Sixth Street Specialty Lending appoints John D. Hershey to board of directors

Sixth Street Specialty Lending, Inc. (NYSE:TSLX), a $2.29 billion specialty finance company with an impressive financial health score of "GREAT" according to InvestingPro, announced Monday that John D. Hershey has been appointed to its board of directors, filling the vacancy created by the retirement of John Ross. The appointment increases the board’s membership to ten directors, six of whom are classified as independent under the Investment Company Act of 1940.

According to a statement issued through a press release and disclosed in a filing with the Securities and Exchange Commission, Mr. Hershey will serve as a Class II director who is not an “interested person” of the company. His term is set to continue until the company’s 2028 annual meeting of stockholders or until a successor is appointed and qualified. Mr. Hershey has also been named to the company’s audit committee, compensation committee, and nominating and corporate governance committee.

Mr. Hershey previously worked at the Oregon State Treasury from 2008 to 2023, most recently as director of investments. In that role, he managed investment portfolios across various asset classes. The appointment comes as TSLX maintains its strong market position, currently trading near its 52-week high of $24.42 and offering shareholders a substantial 8.54% dividend yield, having maintained consistent dividend payments for 12 consecutive years. He also served as director of alternative investments at the Oregon State Treasury, overseeing private equity, real estate, real assets, hedge funds, private credit, and opportunity portfolios. His earlier experience includes serving as managing director at an early-stage venture firm and at Banc of America Securities.

Mr. Hershey holds a Bachelor of Arts in Economics from the University of California, Davis, and an MBA from the University of Chicago. He has served on the board of the Institutional Limited Partners Association and currently sits on the boards of the Oregon Health & Science University Foundation, Talcott Financial Group Investments, Blackstone (NYSE:BX) Private Equity Strategies Fund L.P., and Blackstone Infrastructure Strategies L.P.

The company stated that Mr. Hershey’s appointment was not made pursuant to any agreement or understanding with the company or any other person, and there are no related party transactions requiring disclosure. He will receive standard compensation for independent directors and has executed the company’s standard indemnification agreement.

This information is based on a press release statement and a recent SEC filing. The company’s robust financial position is further evidenced by its healthy current ratio of 3.06, indicating strong liquidity. For deeper insights into TSLX’s performance metrics and additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro, which provides detailed analysis of this and 1,400+ other US equities.

In other recent news, Sixth Street Specialty Lending Inc. reported its first-quarter 2025 earnings, posting an adjusted net investment income of $0.58 per share, which surpassed the anticipated $0.55. However, the company’s revenue slightly missed expectations, coming in at $116.3 million compared to the projected $117.17 million. Despite this revenue shortfall, the market reacted positively to the earnings announcement. The company continues to maintain a strong portfolio yield, with a significant portion of its investments in non-sponsor originated sectors. Analysts have noted the firm’s disciplined capital allocation and its ability to navigate market volatility. The company has also declared a quarterly dividend of $0.46 per share, along with a supplemental dividend of $0.06 per share. Looking ahead, Sixth Street Specialty Lending targets a full-year return on equity between 11.5% and 12.5%, positioning itself to capitalize on opportunities in volatile markets.

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