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Ken Lee

Research Analyst at RBC Capital Markets

Kenneth Lee is a Managing Director, Vice President, and Senior Equity Research Analyst at RBC Capital Markets, specializing in financial services and related sectors. He covers specific companies including FHI, AMP, APAM, TSLX, and OMF, with a strong performance track record featuring a 61% success rate, average return of 14.70% per rating, and ranking #90 out of 9,379 Wall Street analysts on TipRanks. Lee joined RBC Capital Markets in 2011, becoming Vice President in 2016, with prior experience as a Research Analyst, and has issued hundreds of ratings since 2012. He holds FINRA broker registration (CRD# 4281206) through RBC Capital Markets, LLC.

Ken Lee's questions to Sixth Street Specialty Lending (TSLX) leadership

Question · Q4 2025

Ken Lee sought further details on the motivations behind the SCP JV, particularly regarding opportunities in the BSL markets, and asked about trends in spreads on new investments.

Answer

Ross Bruck, Managing Director and Head of Investment Strategy, explained that the SCP JV leverages Sixth Street's structured credit platform expertise, aiming for attractive risk-adjusted returns from fee-free CLO equity, deployed sequentially over time for diversification. Bo Stanley, CEO, stated that spreads on new investments have been generally stable throughout 2025, within a 50 basis point band across quarters, with recent slight pickups. He expressed hope for wider spreads if capital reallocation in the sector continues but does not anticipate significant near-term changes.

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