TCG Capital Management, LP,
d/b/a as TCG or The Chernin Group, is an American investment advisory firm focused on private equity investments in the media, entertainment, technology, sports and consumer and digital media sectors.
History
Peter Chernin
Peter Chernin (born May 29, 1951) is an American businessman and investor. He is the chairman and CEO of TCG (company), The Chernin Group (TCG), which he founded in 2010. TCG manages, operates and invests in businesses in the media, entertainment, ...
and Jesse Jacobs founded TCG as The Chernin Group in 2010 as a holding company to acquire and operate direct-to-consumer brands in media and technology.
TGC hired Mike Kerns, formerly a senior executive at
Yahoo!
Yahoo! (, styled yahoo''!'' in its logo) is an American web services provider. It is headquartered in Sunnyvale, California and operated by the namesake company Yahoo Inc., which is 90% owned by investment funds managed by Apollo Global Man ...
, as president of digital in 2015.
In 2018, Chernin, Jacobs and Kerns formed TCG, an investment advisory firm based in Los Angeles, San Francisco, and New York. TCG manages private equity investments in the media, entertainment, technology, sports and consumer sectors. Chernin, Jacobs, and Kerns are the co-founders and managing partners of the investment advisory firm.
Funding
In April 2012, the ''
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nik ...
'' reported that TCG had received $200 million in new funding from a group of investors led by
Providence Equity Partners
Providence Equity Partners L.L.C. is a specialist private equity firm, private equity investment firm focused on media, communications, education, technology investments across North America and Europe. The firm specializes in growth-oriented pri ...
.
In November 2019, TCG announced "that it closed an inaugural fund with over $700 million of commitments from investors."
Investments
In August 2018, TCG sold its controlling interest in
Otter Media to
AT&T
AT&T Inc. is an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the world's largest telecommunications company by revenue and the third largest provider of mobile tel ...
, reportedly for around $1 billion.
As of November 2019 TCG had "invested over $200 million in emerging businesses, with an average equity investment of $25 million-$75 million," including in the media and commerce site Food52, tabletop games company Exploding Kittens,
MeatEater
''MeatEater'' is a non-fiction outdoors hunting television series in the United States on Netflix starring Steven Rinella. The show first aired on January 1, 2012 and is produced by Zero Point Zero Production.
Episodes
Season 1 (2012)
Se ...
,
Headspace
Headspace may refer to:
*Headspace (company), an online healthcare company specializing in meditation
*Headspace (organisation), an Australian non-profit organization for youth mental health
*Headspace or ullage, the unfilled space in a container
...
,
The Action Network
The Action Network is a sports media company featuring news and analysis focused on sports betting in the United States.
History
The company was founded by The Chernin Group in October 2017, through the acquisition and roll-up of three companies ...
, online wedding registry
Zola,
Cameo, ShopShops, and Dadi.
References
External links
* {{Official website, tcg.co
Private equity firms of the United States
American companies established in 2018