TCG (company)
| Company type | Private |
|---|---|
| Industry | Investment management, Private equity |
| Founded | 2010 |
| Founder | Peter Chernin, Jesse Jacobs |
| Headquarters | Los Angeles, San Francisco, New York , United States |
Key people | Peter Chernin (Co-founder and Managing Partner), Jesse Jacobs (Co-founder and Managing Partner), Mike Kerns (Co-founder and Managing Partner, President of Digital Operations) |
| Products | Private equity investments in media, entertainment, technology, sports, consumer, and digital media industries |
TCG Capital Management, LP, also known as TCG or the Chernin Group, is a U.S.-based investment advisory company that focuses on private equity investments within the media, entertainment, technology, sports, consumer, and digital media industries.
History
Established in 2010 by Peter Chernin and Jesse Jacobs, TCG initially operated as a holding company dedicated to acquiring and managing direct-to-consumer brands in the media and technology arenas. In 2015, Mike Kerns, who previously held a senior role at Yahoo!, joined the firm as president of digital operations. By 2018, Chernin, Jacobs, and Kerns had transformed TCG into an investment advisory firm with offices located in Los Angeles, San Francisco, and New York. Together, they act as co-founders and managing partners overseeing private equity investments across their primary sectors.
Funding
TCG raised $200 million in April 2012, with Providence Equity Partners leading the financing round. Later, in November 2019, the company successfully closed its first fund, securing more than $700 million in commitments from investors.
Investments
In December 2013, TCG obtained a majority ownership interest in the anime streaming platform Crunchyroll. The following year, TCG collaborated with AT&T to establish the joint venture Otter Media. In August 2018, TCG divested its controlling stake in Otter Media—including Crunchyroll—to AT&T for an estimated $1 billion.
By November 2019, TCG had deployed over $200 million into emerging companies, typically acquiring equity positions between $25 million and $75 million. Key portfolio companies include the media and commerce platform Food52; tabletop game developer Exploding Kittens; outdoor lifestyle brand MeatEater; meditation application Headspace; sports analytics firm The Action Network; online wedding registry service Zola; celebrity video marketplace Cameo; ShopShops; and Dadi. In January 2022, TCG contributed $17.5 million to Epic Gardening. Most recently, in March 2024, the firm invested in Unrivaled Sports—a youth sports parent company founded by Josh Harris and David Blitzer.