Sixth Street Partners agreed to make a majority investment in Legends Hospitality LLC in a transaction slated to close during the first quarter.

The investment firm will lead the Legends partnership group alongside the co-founders of Legends, New York Yankees affiliate YGE Holdings LLC and Dallas Cowboys affiliate Jones Concessions LP.

Legends, a sports and entertainment brand marketing service provider, will use the fresh capital to grow global client relationships and to enhance its platform of experience offerings.

Moelis & Co. LLC was lead financial adviser to Legends, with BofA Securities Inc. and Wells Fargo Securities LLC acting as financial advisers and Herrick & Feinstein LLP as legal adviser.

Goldman Sachs & Co. LLC was the financial adviser and Ropes & Gray LLP was legal adviser to Sixth Street on the Legends deal. Gibson Dunn & Crutcher LLP was legal adviser to certain members of the Legends partnership group.

Separately, Sixth Street hit the €1 billion hard cap for its latest direct lending fund at final close, Private Equity News reported.

The firm is actively investing out of the newly closed vehicle, with commitments already made to five investments, the news outlet added.

The Sixth Street Specialty Lending Europe II LP fund, which had an €800 million initial target, will invest in directly originated middle-market credit opportunities across sectors and countries in Europe. The fund will target first-lien, floating rate, and call-protected investments, with a particular focus on the U.K., Western Europe and the Nordics, according to documents from the Pennsylvania Public School Employees' Retirement System.