# TSG Consumer Partners LP

> TSG Consumer Partners LP is an SEC-registered investment advisory firm in Larkspur, CA, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated April 30, 2026.

- CRD: 160826
- Filed as: TSG CONSUMER PARTNERS LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Larkspur, CA
- Filing period: October 2026
- Form ADV filing dated: April 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/160826
- AdvisorCensus page: https://advisorcensus.com/firm/tsg-consumer-partners-lp-larkspur-ca-160826

## Quick answers

**How is TSG Consumer Partners LP compensated?**
On its Form ADV (Item 5.E, October 2026), TSG Consumer Partners LP reports these compensation arrangements: a percentage of assets under its management; other.

**Where is TSG Consumer Partners LP located?**
TSG Consumer Partners LP's principal office is in Larkspur, CA, according to its Form ADV; the May 2026 filing also lists 4 other offices (Schedule D, Section 1.F).

**Is TSG Consumer Partners LP registered with the SEC or a state?**
TSG Consumer Partners LP is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 160826.

**How much does TSG Consumer Partners LP manage?**
TSG Consumer Partners LP reports $14,258,235,677 in regulatory assets under management in its Form ADV filing dated April 30, 2026 (100% discretionary).

**How have TSG Consumer Partners LP's assets and staff changed since 2021?**
In the Form ADV data for TSG Consumer Partners LP: Regulatory assets under management: $11,216,832,396 in the October 2021 data and $14,258,235,677 in the October 2026 data, up 27%. Total employees: 51 in October 2021 and 73 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does TSG Consumer Partners LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (18).

**Does TSG Consumer Partners LP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/160826

**What changed in TSG Consumer Partners LP's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 35 to 36. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Other

### Regulatory assets under management (Item 5.F)
- Total: $14,258,235,677
- Discretionary: $14,258,235,677
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 18 | $14,258,235,677 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 0 | Not reported |
| Other | 0 | Not reported |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2012 (14 years)
- Employees: 73 total, 36 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the May 2026 filing
- Las Vegas, NV
- New York, NY
- Scottsdale, AZ
- Stamford, CT

### Websites listed on Form ADV (Item 1.I)
- substack.com/@tsgconsumer
- tsgconsumer.com
- LinkedIn @TSG-CONSUMER-PARTNERS
- X @TSGCONSUMER

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $11,216,832,396 | 51 | August 9, 2021 |
| October 2022 | $19,694,165,119 | 65 | March 31, 2022 |
| October 2023 | $18,703,791,692 | 68 | June 26, 2023 |
| October 2024 | $16,275,104,871 | 71 | March 29, 2024 |
| October 2025 | $14,103,442,669 | 77 | March 28, 2025 |
| October 2026 | $14,258,235,677 | 73 | April 30, 2026 |

Regulatory assets under management: $11,216,832,396 in the October 2021 data and $14,258,235,677 in the October 2026 data, up 27%.
Total employees: 51 in October 2021 and 73 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 35 to 36.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. TSG Consumer Partners LP (CRD 160826): Form ADV filing data as of October 2026.