About This Fund
TSG9 L.P. (TSG9 LP) is the ninth private equity buyout fund raised by TSG Consumer Partners, a San Francisco-headquartered investment firm exclusively focused on the consumer sector. The fund achieved its final close on January 11, 2023, with total capital commitments of USD 6 billion — substantially oversubscribed against its initial target of USD 5 billion — making TSG9 the largest fund in TSG Consumer Partners' history and bringing the firm's total assets under management to approximately USD 20 billion across all fund vehicles. Demand from investors significantly exceeded available capacity, reflecting the firm's consistent track record of generating attractive returns in branded consumer businesses across its prior eight fund generations.
TSG9 LP focuses on controlling equity investments in high-growth consumer companies with revenues between approximately USD 100 million and USD 1 billion, spanning well-established brands and earlier-stage, higher-growth platforms. The fund's investment universe encompasses consumer goods, food and beverage, health and beauty, wellness, and consumer services — areas where TSG Consumer Partners has developed deep operational expertise and an extensive network of founder-and-management relationships over more than three decades of consumer-exclusive investing. TSG's value creation approach combines strategic guidance on brand positioning, channel expansion, and operational improvement with access to its proprietary network of consumer industry executives and advisors.
TSG9 was active during the fourth quarter of 2022, committing over USD 1 billion across multiple investments before its formal close, including Wrench Group, a leading provider of residential HVAC, plumbing and electrical services, and Radiance Holdings, franchisor of the Sola Salons and Woodhouse Day Spas brands. The fund's investor base includes institutions, family offices, pension plans, sovereign wealth funds, endowments and foundations from across the globe — a reflection of TSG's established standing as one of the most recognised specialist consumer investors in the private equity universe.