TCG Capital Management, LP, doing business 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.[1]
| The Chernin Group | |
| Company type | Private |
| Founded | 2010 |
| Founders | Peter Chernin Jesse Jacobs |
| Headquarters | , United States |
Area served | Worldwide |
Key people |
|
Number of employees | 50 |
| Divisions | Chernin Entertainment TCG Portfolio Companies |
| Website | tcg |
History
editPeter Chernin 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.[1]
TCG 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
editIn April 2012, the Financial Times reported that TCG 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
editTCG had acquired the majority stake of anime video-on-demand service Crunchyroll in December 2013.[4] Both TCG and AT&T later formed a joint venture known as Otter Media in 2014.[5] TCG sold its controlling interest in Otter Media (including Crunchyroll) to AT&T in August 2018, reportedly for around $1 billion.[6][7]
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] In January 2022, TCG invested $17.5 million in Epic Gardening.[8] TGC invested in the youth sports parent company Unrivaled Sports, established by Josh Harris and David Blitzer in March 2024.[9]
References
edit- ^ a b c d e "Peter Chernin's TCG Investment Firm Closes $700 Million Fund". Variety. November 7, 2019.
- ^ "Chernin Group Hires Ex-Yahoo Exec Mike Kerns as Head of Digital". Variety. July 7, 2015.
- ^ "Chernin Group secures $200m in private equity". Financial Times. April 23, 2012.
- ^ https://www.animenewsnetwork.com/news/2013-12-02/chernin-group-purchases-majority-stake-in-crunchyroll
- ^ Spangler, Todd (July 14, 2014). "AT&T-Chernin Group's Otter Media Online-Video Venture Acquires Creativebug for $10 Mil". Variety. Archived from the original on April 22, 2016. Retrieved April 12, 2016.
- ^ "On Hunt for Content, AT&T Closes Deal for Chernin's Otter Media". The New York Times. August 7, 2018.
- ^ "AT&T Buys Out Chernin Group's Stake in Otter Media". Variety. August 7, 2018.
- ^ "Epic Gardening Receives $17.5 Million in New Financing". Greenhouse Product News. January 26, 2022.
- ^ Badenhausen, Kurt (March 27, 2024). "Harris, Blitzer Launch Youth Sports Firm Unrivaled as TCG Invests". Sportico. Retrieved March 27, 2024.