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Laxman Pai, Opalesque Asia: US-based private equity company TSG Consumer Partners announced the successful final closing of its ninth fund, TSG9, with $6 billion of capital commitments.
As with its predecessor fund, TSG9 was substantially oversubscribed, with demand well exceeding its initial $5 billion target. With the closing of TSG9, TSG now has approximately $20 billion in assets under management.
According to a press release from the San Francisco-based investment firm, TSG is a pioneer in focused sector investing and one of the first private equity funds to invest solely in consumer companies. "With over 30 years of investment experience, TSG has a well-honed and proven strategy for driving growth at both well-established and earlier-stage consumer businesses," it said.
The fund will primarily invest in high-growth consumer companies with revenues between approximately $100 million and $1 billion.
"We are grateful for the support and confidence from our long-standing investors as well as our new limited partners," said Chuck Esserman, CEO, and Founder of TSG Consumer Partners.
"We see continued and significant investment opportunities in the market as we focus on higher-growth businesses that address consumer needs in innovative ways. Our investment team and operating group are equipped to add substantial value post-investment as we work to support our management teams and maximize equity returns," Chuck added.
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