TCG Capital Management, LP (“TCG” or the “Company”) is an investment advisory firm based in Los
Angeles, California, Menlo Park, California, and New York, New York that was founded in 2018 by
Peter Chernin, Jesse Jacobs, and Mike Kerns to manage private equity and venture investments in the
media, entertainment, technology, sports, consumer, blockchain and “web3” sectors. The Company
is organized as a Delaware limited partnership. The principal owners of TCG are Peter Chernin, Jesse
Jacobs and Mike Kerns.
TCG sponsors and manages private equity funds that focus on investments in the media,
entertainment, technology, sports and consumer sectors (together with any related parallel funds
and alternative investment vehicles, the “PE Funds”). TCG also sponsors and manages private equity
funds that focus on investments in the blockchain and “web3” sectors (together with any related
parallel funds and alternative investment vehicles, the “Crypto Funds”). In addition to the PE Funds
and Crypto Funds, TCG sponsors and manages other investment vehicles (“Co-Investment Vehicles”)
that will offer investors opportunities to co-invest alongside the Funds in media, entertainment,
technology, sports, consumer, and “web3” investment opportunities or alongside The Chernin Group,
LLC (“Chernin”) in investment opportunities that the applicable Funds’ investment committee
(“Investment Committee”) or limited partner advisory committee (“LPAC”) (if applicable) determine
are not appropriate for the Funds. Please see “Item 10 – Other Financial Industry Activities and
Affiliations” for more detail regarding the relationship between TCG and Chernin. TCG may also serve
as the investment manager to alternative investment vehicles (each, an “Alternative Investment
Vehicle”) organized to address, for example, specific tax, legal, business, accounting or regulatory-
related matters that may arise in connection with a transaction or transactions. The PE Funds, the
Crypto Funds, the Co-Investment Vehicles, and the Alternative Investment Vehicles are collectively
referred to
as the “Funds.”
TCG also manages executive investment vehicles (each, an “Executive Investment Vehicle”) that offer
members of TCG’s advisory board, senior executives or founders of TCG or Chernin portfolio
companies, or other strategic individuals applicable to the portfolio company or who sourced the
investment an opportunity to invest alongside the Fund(s) in a particular investment.
As the investment adviser to the Funds, TCG invests each Fund’s assets pursuant to an investment
advisory agreement that each Fund enters into with TCG, and in accordance with the Fund’s limited
partnership agreement, private placement memorandum and other governing documents (the
“Governing Documents”). TCG conducts its investment advisory activities so as to comply with the
investment objective, guidelines and restrictions set forth in each Fund’s Governing Documents, as
the same may be amended from time to time. TCG typically does not tailor its investment activities
on behalf of a Fund to the needs of any individual investor in a Fund. However, in accordance with
common industry practice, a Fund or its general partner (collectively, “General Partner” or “General
Partners”) may from time to time enter into a “side letter” or similar agreement with an investor
pursuant to which the Fund or its General Partner grants the investor specific rights, benefits or
privileges that are not generally made available to all investors. See “Item 8 – Methods of Analysis,
Investment Strategies and Risk of Loss” below for more details.
All discussions of the Funds in this Brochure, including but not limited to the investments, the
strategies used in managing of the Funds, the fees and other costs associated with an investment in
the Funds and other terms, are qualified in their entirety by reference to each Fund’s Governing
Documents. Services are provided to the Funds in accordance with each Fund’s Governing
Documents.
As of December 31, 2023, TCG had $2,320,662,525 in assets under management, all of which are
managed on a discretionary basis.