Private equity firm TSG Consumer Partners has closed on its sixth fund at $1.3 billion.
The San Francisco-based firm specializes in investments in high-growth, middle-market branded consumer firms. So far in the personal care space, it has made investments in beauty and skin care firms Smashbox Cosmetics, Elf Cosmetics and Perricone MD Cosmeceuticals, as well as nail care brand Cutex. It also has made investments in premium hair care brands Alterna, Kenra and Pureology. TSG acquired Sexy Hair Concepts in May. The firm sold its minority stake in Smashbox to The Estée Lauder Cos. Inc. in 2010, and its stake in Pureology to L’Oréal in 2007.
With the new fund, Jamie O’Hara, managing director, said TSG will also eye investment opportunities in fashion and apparel. “We’ve looked at many fashion and apparel firms over the last several years, and we are actively looking at opportunities in those segments,” he said.
According to O’Hara, the firm was able to complete fund-raising in 60 days from the time it issued its private placement memorandum.
“The vast majority of investors are [repeat] investors who re-upped at often higher levels in the new fund. We also added a select group of international and U.S.-based institutional investors,” O’Hara said, noting that an attractive investment criteria is that the TSG funds create returns through growth versus leverage.
The TSG team members are primarily marketing strategists who help brands and partner companies focus on strategic growth options, whether new products or channels of distribution, and ensure that the firms have the capital structure to follow-through on those initiatives, O’Hara explained.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia