TCG (company)

TCG Capital Management is an American investment advisory firm focused on private equity investments in the media, entertainment, technology, sports and consumer and digital media sectors.[1]

TCG
Founded2018
Key people
Websitetcg.co

History

Peter Chernin and Jesse Jacobs founded The Chernin Group in 2010 as a holding company to acquire and operate direct-to-consumer brands in media and technology.[1]

The Chernin Group hired Mike Kerns, formerly a senior executive at Yahoo!, as president of digital in 2015.[2]

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.[1]

Funding

In April 2012, the Financial Times reported that The Chernin Group had received $200 million in new funding from a group of investors led by Providence Equity Partners.[3]

In November 2019, TCG announced "that it closed an inaugural fund with over $700 million of commitments from investors."[1]

Investments

In August 2018, The Chernin Group sold its controlling interest in Otter Media to AT&T, reportedly for around $1 billion.[4][5]

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, Headspace, The Action Network, online wedding registry Zola, Cameo, ShopShops, and Dadi.[1]

References
  1. "Peter Chernin's TCG Investment Firm Closes $700 Million Fund". Variety. November 7, 2019.
  2. "Chernin Group Hires Ex-Yahoo Exec Mike Kerns as Head of Digital". Variety. July 7, 2015.
  3. "Chernin Group secures $200m in private equity". Financial Times. April 23, 2012.
  4. "On Hunt for Content, AT&T Closes Deal for Chernin's Otter Media". The New York Times. August 7, 2018.
  5. "AT&T Buys Out Chernin Group's Stake in Otter Media". Variety. August 7, 2018.
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