TSG closes ‘substantially oversubscribed’ Fund VIII on $4bn

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TSG Consumer Partners has closed its eighth flagship private equity fund, TSG 8 on $4bn of capital commitments.

The close has helped grow TSG’s assets under management to around $9bn, an official release shows.

The San Francisco-based investor will use the fund to invest between $200m and $800m in high-growth consumer companies.

The firm typically invests in the food, beverage, restaurant, beauty, personal care, household, apparel & accessories, and e-commerce sectors.

Commitments to TSG 8 included $200m from The New York State Teachers Retirement System, $45m from The Sacramento County Employees’ Retirement System and $100m commitment from The Texas County & District Retirement System.

The PE major was founded in 1987 and is led by CEO and founder Chuck Esserman.

TSG’s current and previous investments include a number of well-known brands such as Duckhorn Wine Company, Planet Fitness, IT Cosmetics, REVOLVE, HUDA Beauty, BrewDog, Canyon Bicycles, Pabst, Backcountry and vitaminwater.

Late last year, TSG invested in the US’ largest privately held drive-thru coffee company Dutch Bros Coffee.

The firm also recently promoted Erik Johnson to principal after serving seven years at TSG.

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