Tengram Capital Partners Fund II Announces Final Close at $320 Million
Westport, CT - June 16, 2015 – Tengram Capital Partners ("TCP" or "Tengram") is pleased to announce the first and final close of Tengram Capital Partners Fund II, L.P. The Fund was significantly over-subscribed and reached its hard cap of $320 million. The Fund attracted significant interest from both existing and new limited partners. TCP was formed in 2010 to invest in leading middle-market consumer companies that own strong, recognizable brands.
Since its founding, Tengram has consistently targeted investments in great brands across multiple segments and categories in the consumer and retail industry. "We remain focused on finding and investing in brands that are bigger than their businesses," said Matthew Eby, Co-founder and Managing Partner at Tengram. "We seek to pair these amazing, founder-led businesses with our focused, replicable strategy of operational improvements and brand expansion. We believe this consistent approach will create exceptional performance for the great group of leading limited partners whose trust and support we are grateful and honored to receive."
Fund II will continue to draw on TCP's deep domain expertise and unique relationships in the consumer industry. Tengram or its founding partners have invested in brands including Robert Graham, Nest Fragrances, DevaCurl, Sequential Brands Group, Laura Geller, Design Within Reach, Joes Jeans, and Field & Stream, amongst others. Bill Sweedler, Co-Founder and Managing Partner, stated, "Our backgrounds as both operators and investors enable Tengram to bring a special perspective to the founders and management teams that we back. We have spent our careers in our areas of expertise, which include apparel and accessories, health and beauty, outdoor, sporting goods, retail, food and beverage, and any other space where the brand is critical to the consumer's decision to purchase. We will continue to seek to uncover unique and opportunistic transactions in these segments where we can employ the full set of our team's operational, strategic, and financial capabilities."
Rich Gersten, Partner at Tengram, commented, "Our team of seasoned investment professionals is currently evaluating a number of exciting new investments. Our focus remains on the lower-middle market where we can invest $15-$40 million of equity per transaction. We believe this less efficient market segment provides a great opportunity for attractive risk-adjusted returns for our investors. Risk mitigation and downside protection are critical factors in our assessment of new opportunities."
Tengram is grateful for the commitments it received for Fund II from a diverse group of institutional investors. These limited partners include leading foundations and endowments, corporate and state pension plans, alternative asset managers, and large family offices.
White & Case served as fund counsel to Tengram Capital.
ABOUT TENGRAM CAPITAL PARTNERS:
Tengram Capital Partners 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 Zanella, This Works, Luciano Barbera, Tommie Copper, Active Ride Shop, DevaCurl, Laura Geller Beauty, NEST Fragrances, Sequential Brands Group, Robert Graham, Joe Boxer, Joe's Jeans, Field & Stream, and Design Within Reach.
Under no circumstances does the information contained herein constitute an offer to sell or a solicitation of an offer to buy any security or interest in an investment vehicle managed by Tengram. Tengram's website is http://www.tengramcapital.com.