About This Fund
TSG9, L.P. is the ninth flagship private equity fund of TSG Consumer Partners, one of North America's leading consumer-focused private equity firms headquartered in San Francisco, California. The fund closed in January 2023 with $6 billion in capital commitments—substantially exceeding its initial $5 billion target and representing a significant increase from its predecessor fund. With the closing of TSG9, TSG Consumer Partners reached approximately $20 billion in total assets under management. The fund attracted capital from a global investor base of leading institutional investors including pension plans, sovereign wealth funds, endowments, foundations, and family offices.
TSG9 focuses primarily on high-growth consumer companies with revenues of approximately $100 million to $1 billion operating across consumer staples, consumer discretionary, and consumer services sectors in North America. TSG Consumer Partners takes both minority and majority equity stakes, partnering with exceptional management teams to accelerate revenue growth, improve unit economics, expand distribution, and build scalable operational platforms. The firm's deep consumer sector expertise, extensive network of C-suite relationships, and differentiated operating capabilities in brand-building and direct-to-consumer distribution distinguish its approach from generalist private equity sponsors.
TSG9 was active during its investment period from Q4 2022, committing over $1 billion across multiple investments in its earliest weeks. Early portfolio companies include Wrench Group, a leading provider of residential HVAC, plumbing, and electrical services, and Radiance Holdings, a leading franchisor of salon suites and day spas across the United States. These investments exemplify TSG Consumer Partners' long-term strategy of backing category leaders in consumer services with recurring demand and strong brand recognition. TSG9 continues a fund family legacy stretching back to the firm's founding, with previous funds delivering strong returns across hundreds of consumer investments over three decades.