TCG Capital Management, LP,
doing business as
A trade name, trading name, or business name is a pseudonym used by companies that do not operate under their registered company name. The term for this type of alternative name is fictitious business name. Registering the fictitious name with ...
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.
History
Peter Chernin
Peter Chernin (born May 29, 1951) is an American film and television producer, businessman and investor. He is the chairman and CEO of The Chernin Group (TCG), which he founded in 2010. TCG manages, operates and invests in businesses in the media ...
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.
TCG hired Mike Kerns, formerly a senior executive at
Yahoo!
Yahoo (, styled yahoo''!'' in its logo) is an American web portal that provides the search engine Yahoo Search and related services including My Yahoo, Yahoo Mail, Yahoo News, Yahoo Finance, Yahoo Sports, y!entertainment, yahoo!life, and its a ...
, as president of digital in 2015.
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.
Funding
In April 2012, the ''
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and also published digitally that focuses on business and economic Current affairs (news format), current affairs. Based in London, the paper is owned by a Jap ...
'' reported that TCG had received $200 million in new funding from a group of investors led by
Providence Equity Partners.
In November 2019, TCG announced "that it closed an inaugural fund with over $700 million of commitments from investors."
Investments
TCG had acquired the majority stake of anime video-on-demand service
Crunchyroll
Crunchyroll is an American Video on demand#Subscription models, subscription video on-demand Over-the-top media service, over-the-top Streaming media, streaming service owned by Sony, Sony Group Corporation. The service primarily distributes fi ...
in December 2013. Both TCG and
AT&T
AT&T Inc., an abbreviation for its predecessor's former name, the American Telephone and Telegraph Company, is an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the w ...
later formed a joint venture known as
Otter Media
Otter Media Holdings, LLC was an American digital media company owned by AT&T. The company was founded in April 2014 by AT&T and The Chernin Group as a holding company of the anime streaming service Crunchyroll, in which the latter invested in ...
in 2014. TCG sold its controlling interest in Otter Media (including Crunchyroll) to AT&T in August 2018, reportedly for around $1 billion.
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
The Action Network is a sports media company featuring news and analysis focused on sports betting in the United States.
History
The company was founded by The Chernin Group in October 2017, through the acquisition of three companies: Sports Ins ...
, online wedding registry
Zola,
Cameo, ShopShops, and Dadi.
In January 2022, TCG invested $17.5 million in
Epic Gardening
Epic Gardening is an American gardening brand with a YouTube channel operated and founded by Kevin Espiritu (born August 1987) since 2013. As of May 2025, the channel has 683 videos, 3.8 million subscribers and 780 million views.
History
Espir ...
. TGC invested in the youth sports parent company Unrivaled Sports, established by
Josh Harris and
David Blitzer
David Scott Blitzer (born September 7, 1969) is an American investor and sports team owner. Blitzer is the chairman of the private equity firm Blackstone's tactical opportunities division and managing partner of the New Jersey Devils ice hocke ...
in March 2024.
References
External links
* {{Official website, tcg.co
Private equity firms of the United States
American companies established in 2018