Tengram Capital Partners Raises $173 Million for its First Fund, Exceeding Targeted Amount
Westport, CT- April 16, 2013 – Tengram Capital Partners LLC ("TCP" or "Tengram"), a private equity firm that invests in leading middle-market consumer companies that own strong, recognizable brands, has completed the fundraising of it first institutional fund. The fund closed with $173 million of commitments, exceeding its target fund size of $150 million.
TCP received commitments from a broad array of institutional and individual investors, including endowments, pension plans, alternative asset managers, and large family offices. Matthew Eby, Co-Founder and Managing Partner, commented, "The team at Tengram is thrilled to have the trust and support of a strong group of long-term investors. We value their partnership and look forward to working on their behalf."
Tengram was founded in 2010 by William Sweedler and Matthew Eby. Richard Gersten joined as a Partner in 2011. Together, they have spent almost 50 years operating and investing in branded consumer businesses. TCP's brand-focused strategy has led to current fund investments in Robert Graham, Sequential Brands Group, NEST Fragrances, and Laura Geller Beauty. William Sweedler, Co-Founder and Managing Partner, said, "Rich, Matt and I have unique, complementary backgrounds that together bring a collective expertise that differentiates our partnership from many consumer investors. Tengram's core philosophy is that brands are the most vital and valuable part of the consumer experience. The partners, along with our consumer focused investment team, will continue to attract unique and proprietary investment opportunities in our areas of expertise, including apparel, home, sporting goods, retail, health and beauty, and food and beverage."
Tengram partners with exceptional entrepreneurs and operators, providing the strategic guidance and resources required to effectively activate and grow their brands. As Richard Gersten, Partner, explained, "We work closely with our management teams and strive to create strong partnerships founded on a basis of trust. Our partnership approach resonates with many founder and family-led businesses that are seeking the operating expertise and intellectual capital to help grow their businesses."
Tengram used Mt. Vernon Group and Triple A Partners as placement agents and White & Case as fund counsel.
ABOUT TENGRAM CAPITAL PARTNERS:
Tengram Capital Partners, LLC is a private equity firm that focuses exclusively on leading middle-market consumer and retail companies that own strong recognizable brands. The team has a diverse background of consumer investing and operating expertise that assists and guides company management to unlock the true potential of their brand. Tengram invests in both traditional "growth" and "restructuring/turnaround" situations in either the public or private sectors. Previous and current investments for Tengram and its predecessor investment entity, Windsong Brands, LLC, include Laura Geller Beauty, NEST Fragrances, Sequential Brands Group, Robert Graham, Joe Boxer, Joe's Jeans, Field & Stream, Design Within Reach, and Cloudveil. Tengram's website is (www.tengramcapital.com ). Tengram's website is http://www.tengramcapital.com.