TSG Consumer Partners closed its latest buyout fund, TSG9, at $6 billion, a news release said Wednesday.
The fund, which focuses primarily on high-growth consumer companies with revenues of between about $100 million and $1 billion, exceeded its initial $5 billion fundraising target.
The previous fund, TSG8, closed in February 2019 at $4 billion.
The news release said TSG9 invested over $1 billion in the fourth quarter alone across numerous investments, including heating, ventilation and air conditioning company Wrench Group and salon and spa franchiser Radiance Holdings.
Investors in TSG9 include the $137.9 billion State of Wisconsin Investment Board, Madison; $124.7 billion Minnesota State Board of Investment, St. Paul; $98.9 billion Virginia Retirement System, Richmond; $68.9 billion Los Angeles County Employees Retirement Association, Pasadena, Calif.; $60.7 billion Illinois Teachers' Retirement System, Springfield; $40.4 billion Texas County & District Retirement System, Austin; and $17.8 billion Arizona Public Safety Personnel Retirement System, Phoenix.
TSG Consumer Partners has about $20 billion in assets under management.
