TSG Consumer Partners: AUM & Ownership

Clients

TSG Consumer Partners serves 18 clients. The average client has about $792 million with the firm.

Regulatory assets by client type

Pooled investment vehicles18 clients100%

Show client breakdown

Client type	Clients	Regulatory AUM	Share	Avg. per client
Pooled investment vehicles	18	$14,258,235,677	100.0%	$792.1M
Total	18	$14,258,235,677	100%	$792.1M

Pooled investment vehicles

Clients: 18
Regulatory AUM: $14,258,235,677
Share: 100.0%
Avg. per client: $792.1M

Total

Clients: 18
Regulatory AUM: $14,258,235,677
Share: 100%
Avg. per client: $792.1M

What it does

TSG Consumer Partners provides portfolio management for pooled vehicles. It is paid through a percentage of assets and other arrangements.

TSG Consumer Partners advises 18 private funds.

100.0% of assets ($14.26B across 18 accounts) are managed with discretion. 22% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

Custodians

TSG Consumer Partners has custody of client assets.

Managed account assets by custodian

All other custodians$14.26B100%

Ownership and leadership

TSG Advisor Midco LLC owns 50% to 75% of TSG Consumer Partners.

Who owns the firm

TSG Consumer Partners LP· the adviser

TSG Advisor Midco LLC
Control person · since December 2016
Owns 50% to 75% of TSG Consumer Partners LP
- TSG Advisor Intermediateco LLC
  Control person · since January 2020
  Owns 75% or more of TSG Advisor Midco LLC
  - TSG Advisor Topco LLC
    Control person · since January 2020
    Owns 50% to 75% of TSG Advisor Intermediateco LLC
    - Mary Mullin
      Control person · since January 2007
      Owns 25% to 50% of TSG Advisor Topco LLC
    - Charles Esserman
      Control person · since November 1987
      Owns 25% to 50% of TSG Advisor Topco LLC
    - James O'Hara
      Control person · since January 2001
      Owns 25% to 50% of TSG Advisor Topco LLC
  - Dyal Capital Partners IV Holdings (a) LP
    Control person · since January 2020
    Owns 25% to 50% of TSG Advisor Intermediateco LLC
Pierre Lecomte
since January 2009
Owns 5% to 10% of TSG Consumer Partners LP
Colin Welch
since March 2016
Owns 5% to 10% of TSG Consumer Partners LP

Leadership

Jessica Duran
Chief Financial Officer
Andrew Weilbacher
Chief Compliance Officer
Charles Esserman
CEO, Senior Managing Partner
Pierre Lecomte
Managing Partner
Mary Mullin
Senior Managing Partner
James O'Hara
Senior Managing Partner
Sean Sullivan
Chief Legal Officer
Colin Welch
Managing Partner

Staff

73 employees
36 in advisory functions

Reported holdings

TSG Consumer Partners’ reported 13F holdings total $114.0M across 1 positions, and the ten largest make up 100.0% of it.

$114.0M
Reported 13F value: 1
Positions: 100.0%
In the 10 largest: −1.3%
Value vs. prior quarter

Ten largest positions, share of reported value

Dutch Bros Inc.. · Class A Common Stock100.0%

Together, the ten largest are 100.0% of reported value.

The 1 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 10 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $114.0M is not its $14.26B in regulatory assets and does not represent any individual client's portfolio.

Fees

TSG Consumer Partners is paid through a percentage of assets under management and other.

TSG Consumer Partners’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, TSG Consumer Partners has 4 offices, with 5 listed addresses across 5 states.

Listed office addresses by state

California · 1 listed address

1100 Larkspur Landing Circle, Suite 360, LarkspurHQ

Registration details

Legal name: TSG Consumer Partners LP
Headquarters: 1100 Larkspur Landing Circle, Suite 360, Larkspur, CA 94939
Phone: 415-217-2300
Website: www.tsgconsumer.com
SEC file: 801-74089
Structure: Delaware limited partnership
Fiscal year end: December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does TSG Consumer Partners have?

TSG Consumer Partners has 18 clients and manages $14.3 billion for them, as of April 2026.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 April 2026

What services does TSG Consumer Partners offer?

TSG Consumer Partners provides portfolio management for pooled vehicles.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

How many financial advisors does TSG Consumer Partners have?

TSG Consumer Partners has 0 investment adviser representatives registered with state securities authorities, out of 73 employees, and 36 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

Who owns TSG Consumer Partners?

TSG Consumer Partners is owned through a chain of holding companies by Mary Mullin, Charles Esserman, James O'Hara and Dyal Capital Partners IV Holdings (a) LP. Its direct owners are Pierre Lecomte (5% to 10%), Colin Welch (5% to 10%) and TSG Advisor Midco LLC (50% to 75%).

Source: Form ADV Part 1A, Schedules A and B, filed 30 April 2026

How does TSG Consumer Partners get paid?

TSG Consumer Partners is paid through a percentage of assets under management and other arrangements. Its Form ADV lists no commissions or performance-based fees among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file