TZP MANAGEMENT ASSOCIATES, LLC other names

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Adviser Profile

As of Date:

09/13/2024

Adviser Type:

- Large advisory firm


Number of Employees:

50

of those in investment advisory functions:

50


Registration:

SEC, Approved, 3/30/2012

AUM:

2,403,548,225 4.23%

of that, discretionary:

2,403,548,225 4.23%

Private Fund GAV:

2,403,548,227 4.22%

Avg Account Size:

58,623,127 1.69%


SMA’s:

NO

Private Funds:

41 1

Contact Info

212 xxxxxxx

Websites :
Client Types:

+

Advisory Activities:

+

Compensation Arrangments:

+

Reported AUM

Discretionary
Non-discretionary
2B 2B 2B 1B 1B 685M 343M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Recent News



Private Funds Structure

Fund Type Count GAV
Private Equity Fund 41 $2,403,548,227

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Private Funds



Employees




Brochure Summary

Overview

TZP Group is a private investment management firm, including registered investment advisory entities and other organizations affiliated with TZP Management Associates, LLC, a Delaware limited liability company (“TZP Management” and, together with such affiliated organizations, collectively, “TZP Group”) that commenced operations in March 2007. TZP Management, a registered investment adviser, and its affiliated investment advisers, TZP Capital Partners GP I, LLC (“TZP Capital Fund I GP”), TZP Capital Partners GP II, L.P. (“TZP Capital Fund II GP”), TZP Capital Partners GP III, L.P. (“TZP Capital Fund III GP”), TZP Capital Partners GP IV, L.P. (“TZP Capital Fund IV GP”), TZP Small Cap Partners GP I, L.P. (“TZP Small Cap Fund I GP”), TZP Small Cap Partners GP II, L.P. (“TZP Small Cap Fund II GP”), TZP Group Investments GP, L.P. (“TZP Group Investments GP”), TZP Group Holdings GP, LLC (“TZP Group Holdings GP”), and SBIC Partners GP I, LP (“SBIC Partners Fund I GP”) together with TZP Capital Fund I GP, TZP Capital Fund II GP, TZP Capital Fund III GP, TZP Capital Fund IV GP, TZP Small Cap Fund I GP, TZP Small Cap Fund II GP, TZP Group Investments GP, and TZP Group Holdings GP and any future affiliated general partner entities, the “General Partners”), TZP Fund Manager II, L.P. (“TZP Capital Fund II Manager”), TZP Fund Manager III, L.P. (“TZP Capital Fund III Manager”), TZP Fund Manager IV, L.P. (“TZP Capital Fund IV Manager”), TZP Small Cap Fund Manager I, L.P. (“TZP Small Cap Fund I Manager”), TZP Small Cap Fund Manager II, L.P. (“TZP Small Cap Fund II Manager”), TZP Group Investments Manager, L.P. (“TZP Group Investments Manager”), and TZP SBIC Fund Manager I, L.P. (“TZP SBIC Fund I Manager”) together with TZP Capital Fund II Manager, TZP Capital Fund III Manager, TZP Capital Fund IV Manager, TZP Small Cap Fund I Manager, TZP Small Cap Fund II Manager, TZP Group Investments Manager, L.P., and the General Partners, the “Affiliated Advisers”, and the Affiliated Advisers with TZP Management, the “Advisers”, provide investment advisory services to private investment funds. Each Affiliated Adviser is registered under the Advisers Act pursuant to TZP Management’s registration in accordance with SEC guidance. This Brochure also describes the business practices of each Affiliated Adviser, which operate as a single advisory business together with TZP Management. TZP Capital Fund I GP has delegated the management of the business and affairs of TZP Capital Fund I (as defined below) to TZP Management. TZP Capital Fund II GP has delegated the management of the business and affairs of TZP Capital Fund II (as defined below) to TZP Capital Fund II Manager. TZP Small Cap Fund I GP has delegated the management of the business and affairs of TZP Small Cap Fund I (as defined below) to TZP Small Cap Fund I Manager. TZP Capital Fund III GP has delegated the management of the business and affairs of TZP Capital Fund III (as defined below) to TZP Capital Fund III Manager. TZP Capital Fund IV GP has delegated the management of the business and affairs of TZP Capital Fund IV (as defined below) to TZP Capital Fund IV Manager. TZP Small Cap Fund II GP has delegated the management of the business and affairs of TZP Small Cap Fund II (as defined below) to TZP Small Cap Fund II Manager. TZP Group Investments GP has delegated the management of the business and affairs of TZP Group Investments (as defined below) to TZP Group Investments Manager. SBIC Partners Fund I GP has delegated the management of the business and affairs of TZP SBIC Partners I (as defined below) to TZP SBIC Fund I Manager. TZP Management in turn performs such management on behalf of TZP Capital Fund II Manager, TZP Capital Fund III Manager, TZP Capital Fund IV Manager, TZP Small Cap Fund I Manager, TZP Small Cap Fund II Manager, TZP Group Investments Manager, and TZP SBIC Fund I Manager. See below for a list of TZP Capital Fund I, TZP Capital Fund II, TZP Capital Fund III, TZP Capital Fund IV, TZP Small Cap Fund I, TZP Small Cap Fund II, TZP Group Investments, TZP Group Holdings, and TZP SBIC Partners I funds; TZP Capital Fund I, TZP Capital Fund II, TZP Capital Fund III, TZP Capital Fund IV, TZP Small Cap Fund I, TZP Small Cap Fund II, TZP Group Investments, TZP Group Holdings, TZP SBIC Partners I and any future private investment fund managed by TZP Management or its advisory affiliates (each a “Fund,” and collectively, the “Funds”). The investors of the Funds (other than the General Partners), as applicable, are referred to herein as “Limited Partners” and the Limited Partners together with the General Partners are referred to herein as the “Partners”. With respect to each Fund, as applicable, the General Partner, any Limited Partner affiliated with the General Partner or its affiliates, and any Limited Partner otherwise designated by the General Partner or its affiliates as such are referred to herein as “Affiliated Partners” of the Fund. The Funds are private equity funds and invest through negotiated transactions in operating entities generally referred to herein as “portfolio companies.” The Advisers’ investment advisory services to the Funds consist of identifying and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments and achieving dispositions for such investments. Although investments are made predominantly in non-public companies, investments in public companies are permitted, subject to certain limitations set forth in the applicable Fund’s limited partnership agreement (each, a “Limited Partnership Agreement”). Where such investments consist of portfolio companies, the senior principals or other personnel of the Advisers or their affiliates are permitted to serve on such portfolio companies’ respective boards of directors or otherwise act to influence control over the management of a Fund’s portfolio companies. Additionally, as permitted by the governing documents of the Funds, the Advisers has provided and may provide (or agree to provide) certain current or prospective investors or other persons, including Adviser personnel and/or certain other persons associated with the Advisers and/or their affiliates (to the extent not prohibited by the applicable Limited Partnership Agreement) co-investment opportunities (including the opportunity to participate in co-invest vehicles that will invest in certain portfolio companies alongside a Fund). Such co-invest vehicles typically invest and dispose of their investments in the applicable portfolio company at the same time and on the same terms as the Fund making the investment, subject to legal, tax, regulatory, accounting or other similar considerations which may limit the amount and type of investment or disposition. However, for strategic and other reasons, a co-investor or co-invest vehicle (including a co-investing Fund) purchases a portion of an investment from one or more Funds after such Funds have consummated their investment in the portfolio company (also known as a post-closing sell-down or transfer), which generally will have been funded through Fund investor capital contributions and/or use of a Fund credit facility. Any such purchase from a Fund by a co-investor or co-invest vehicle generally occurs shortly after the Fund’s completion of the investment to avoid any changes in valuation of the investment, but in certain circumstances could be well after the Fund’s initial purchase, and the Advisers reserve the right to charge interest on the purchase (or the purchase price may otherwise be equitably adjusted under certain conditions) to compensate the relevant Fund for the holding period, and generally will be required to reimburse the relevant Fund for related costs. However, to the extent any such amounts are not so charged or reimbursed (including charges or reimbursements required pursuant to applicable law), they generally will be borne by the relevant Fund. TZP Capital Fund I GP, a Delaware limited liability company, is the general partner of the following private investment funds:  TZP Capital Partners I, L.P., a Delaware limited partnership (the “TZP Capital Main Fund I”)  TZP Capital Partners I (PIV), L.P., a Delaware limited partnership (“TZP Capital Fund I PIV”) Additionally, TZP Capital Fund I GP is the general partner of the following alternative investment vehicles (the “TZP Capital Fund I Alternative Investment Vehicles”), which were formed for the purpose of investing in certain portfolio company investments of TZP Capital Main Fund I. The TZP Capital Fund I Alternative Investment Vehicles, together with TZP Capital Main Fund I, TZP Capital Fund I PIV, any feeder vehicles, other alternative investment vehicles and special purpose entities are collectively referred to herein as “TZP Capital Fund I.”  TZP Capital Partners I SP (AIV), L.P., a Delaware limited partnership  TZP Capital Partners I SP (PIV-AIV), L.P., a Delaware limited partnership For the sake of clarity, unless otherwise indicated, references in this Brochure to “TZP Capital Fund I” include each of the above-named private funds. While the substantial majority of the terms of each above-named fund are the same, each of such funds was formed to suit the purposes of certain types of investors so there are slight variations in structure and investment terms among the funds. Investors should refer to the private fund’s Limited Partnership Agreement for specific terms with respect to that private fund. Further, TZP Capital Fund I GP is the manager of the following co-investment funds (the “TZP Capital Fund I Co-Investment Vehicles”), which were formed for the purpose of investing with TZP Capital Fund I in certain portfolio company investments of TZP Capital Fund I at the same time and on the same terms on a pro rata basis based on relative commitment sizes of TZP Capital Fund I and the TZP Capital Fund I Co-Investment Vehicle.  SP Investment Vehicle, LLC, a Delaware limited liability company TZP Capital Fund II GP, a Delaware limited partnership, is the general partner of the following private investment funds:  TZP Capital Partners II, L.P., a Delaware limited partnership (the “TZP Capital Main Fund II”)  TZP Capital Partners II-A (Blocker), L.P., a Delaware limited partnership (“TZP Capital Fund II-A (Blocker)”)  TZP Capital Partners II (SPV), LLC, a Cayman Islands limited liability company (“TZP Capital Fund II SPV”) Additionally, Spartacus Cayman GP (AIV), L.P. is the general partner of the following alternative investment vehicles (the “TZP Capital Fund II Alternative Investment Vehicles”), which were formed for the purpose of investing in a certain portfolio company investment of TZP Capital Main Fund II. The TZP Capital Fund II Alternative Investment Vehicles, together with TZP Capital Main Fund II, TZP Capital Fund II-A (Blocker), any feeder vehicles, other alternative investment vehicles and special purpose entities are collectively referred to herein as “TZP Capital Fund II.”  Spartacus Cayman AIV-A, L.P., a Cayman Islands Exempt Limited Partnership  Spartacus Cayman AIV-B, L.P., a Cayman Islands Exempt Limited Partnership For the sake of clarity, unless otherwise indicated, references in this Brochure to “TZP Capital Fund II” include each of the above-named private funds. While the substantial majority of the terms of each above-named fund are the same, each of such funds was formed to suit the purposes of certain types of investors so there are slight variations in structure and investment terms among the funds. Investors should refer to the private fund’s Limited Partnership Agreement for specific terms with respect to that private fund. Further, TZP Capital Fund II GP is the manager of each of the following co-investment funds (collectively, the “TZP Capital Fund II Co-Investment Vehicles”), which were formed for the purpose of investing with TZP Capital Fund II in certain portfolio company investments of TZP Capital Fund II at the same time and on the same terms on a pro rata basis based on relative commitment sizes of TZP Capital Fund II and the relevant TZP Capital Fund II Co-Investment Vehicles.  Snap Investments, LLC, a Delaware limited liability company  GES Investments Holdings, LLC, a Delaware limited liability company  GES Super Parent Holdings, LLC, a Delaware limited liability company  Spartacus Investments, Ltd., a Cayman Islands Exempted Company  Pyramid Investors, LLC, a Delaware limited liability company  Kingsbridge Holding Aggregator, LLC, a Delaware limited liability company  Hylan Investor Holdings Group, LLC, a Delaware limited liability company  TZP Poseidon Holdings, LLC, a Delaware limited liability company TZP Capital Fund III GP, a Delaware limited partnership, is the general partner of the following private investment funds:  TZP
Capital Partners III, L.P., a Delaware limited partnership (the “TZP Capital Main Fund III”)  TZP Capital Partners III-A (Blocker), L.P., a Delaware limited partnership (“TZP Capital Fund III-A (Blocker)”) Additionally, in the future, TZP Capital Fund III GP may serve as the general partner of one or more alternative investment vehicles (any such vehicle, the “TZP Capital Fund III Alternative Investment Vehicles”), which would be formed for the purpose of investing in a certain portfolio company investment of TZP Capital Main Fund III. The TZP Capital Fund III Alternative Investment Vehicles, together with TZP Capital Main Fund III, TZP Capital Fund III-A (Blocker), any feeder vehicles, other alternative investment vehicles and special purpose entities are collectively referred to herein as “TZP Capital Fund III.” For the sake of clarity, unless otherwise indicated, references in this Brochure to “TZP Capital Fund III” include each of the above-named private funds. While the substantial majority of the terms of each above-named fund are the same, each of such funds was formed to suit the purposes of certain types of investors so there are slight variations in structure and investment terms among the funds. Investors should refer to the private fund’s Limited Partnership Agreement for specific terms with respect to that private fund. Further, TZP Capital Fund III GP is the manager of the following co-investment funds (collectively, the “TZP Capital Fund III Co-Investment Vehicles”), which were formed for the purpose of investing with TZP Capital Fund III in certain portfolio company investments of TZP Capital Fund III at the same time and on the same terms on a pro rata basis based on relative commitment sizes of TZP Capital Fund III and the relevant TZP Capital Fund III Co-Investment Vehicles.  TZP Poseidon Holdings, LLC, a Delaware limited liability company  Dwellworks Co-Investment, LLC, a Delaware limited liability company  QE TZP Blocker Acquisition Co, LLC, a Delaware limited liability company  Bluebird Feeder, LLC, a Delaware limited liability company  TZP Rebath Aggregator, LP, a Delaware limited partnership  Saxx Investment Holdings, LP, a Delaware limited partnership TZP Capital Fund IV GP, a Delaware limited partnership, is the general partner of the following private investment funds:  TZP Capital Partners IV, L.P., a Delaware limited partnership (the “TZP Capital Main Fund IV”)  TZP Capital Partners IV-A (Blocker), L.P., a Delaware limited partnership (“TZP Capital Fund IV-A (Blocker)”) Additionally, in the future, TZP Capital Fund IV GP may serve as the general partner of one or more alternative investment vehicles (any such vehicle, the “TZP Capital Fund IV Alternative Investment Vehicles”), which would be formed for the purpose of investing in a certain portfolio company investment of TZP Capital Main Fund IV. The TZP Capital Fund IV Alternative Investment Vehicles, together with TZP Capital Main Fund IV, TZP Capital Fund IV-A (Blocker), any feeder vehicles, other alternative investment vehicles and special purpose entities are collectively referred to herein as “TZP Capital Fund IV.” For the sake of clarity, unless otherwise indicated, references in this Brochure to “TZP Capital Fund IV” include each of the above-named private funds. While the substantial majority of the terms of each above-named fund are the same, each of such funds was formed to suit the purposes of certain types of investors so there are slight variations in structure and investment terms among the funds. Investors should refer to the private fund’s Limited Partnership Agreement for specific terms with respect to that private fund. TZP Small Cap Fund I GP, a Delaware limited partnership, is the general partner of the following private investment funds:  TZP Small Cap Partners I, L.P., a Delaware limited partnership (the “TZP Small Cap Main Fund I”)  TZP Small Cap Partners I-A (Blocker), L.P., a Delaware limited partnership (the “TZP Small Cap Fund I-A (Blocker)”)  TZP Small Cap Partners I (SPV), LLC, a Delaware limited liability company (the “TZP Small Cap Fund SPV”) Additionally, in the future, TZP Small Cap Fund I GP may serve as the general partner of one or more alternative investment vehicles (any such vehicle, the “TZP Small Cap Fund I Alternative Investment Vehicles”), which would be formed for the purpose of investing in a certain portfolio company investment of TZP Small Cap Main Fund I. The TZP Small Cap Fund I Alternative Investment Vehicles, together with TZP Small Cap Main Fund I, TZP Small Cap Main Fund I-A (Blocker), any feeder vehicles, other alternative investment vehicles and special purpose entities are collectively referred to herein as “TZP Small Cap Fund I.” For the sake of clarity, unless otherwise indicated, references in this Brochure to “TZP Small Cap Fund I” include each of the above-named private funds. While the substantial majority of the terms of each above-named fund are the same, each of such funds was formed to suit the purposes of certain types of investors so there are slight variations in structure and investment terms among the funds. Investors should refer to the private fund’s Limited Partnership Agreement for specific terms with respect to that private fund. Further, TZP Small Cap Fund I GP is the manager of the following co-investment funds (the “TZP Small Cap Fund I Co-Investment Vehicles”), which were formed for the purpose of investing with TZP Small Cap Fund I in certain portfolio company investments of TZP Small Cap Fund I at the same time and on the same terms on a pro rata basis based on relative commitment sizes of TZP Small Cap Fund I and the relevant TZP Small Cap Fund I Co-Investment Vehicles.  FEG Investment Holdings, LLC, a Delaware limited liability company  TZP Btux Holdings, LLC, a Delaware limited liability company  FreshAddress Co-Investment Holdings, LLC, a Delaware limited liability company TZP Small Cap Fund II GP, a Delaware limited partnership, is the general partner of the following private investment funds:  TZP Small Cap Partners II, L.P., a Delaware limited partnership (the “TZP Small Cap Main Fund II”)  TZP Small Cap Partners II-A (Blocker), L.P., a Delaware limited partnership (“TZP Small Cap Fund II-A (Blocker)”) Additionally, in the future, TZP Small Cap Fund II GP may serve as the general partner of one or more alternative investment vehicles (any such vehicle, the “TZP Small Cap Fund II Alternative Investment Vehicles”), which would be formed for the purpose of investing in a certain portfolio company investment of TZP Small Cap Main Fund II. The TZP Small Cap Fund II Alternative Investment Vehicles, together with TZP Small Cap Main Fund II, TZP Small Cap Fund II-A (Blocker), any feeder vehicles, other alternative investment vehicles and special purpose entities are collectively referred to herein as “TZP Small Cap Fund II.” For the sake of clarity, unless otherwise indicated, references in this Brochure to “TZP Small Cap Fund II” include each of the above-named private funds. While the substantial majority of the terms of each above-named fund are the same, each of such funds was formed to suit the purposes of certain types of investors so there are slight variations in structure and investment terms among the funds. Investors should refer to the private fund’s Limited Partnership Agreement for specific terms with respect to that private fund. Further, TZP Small Cap Fund II GP is the manager of the following co-investment funds (the “TZP Small Cap Fund II Co-Investment Vehicles”), which were formed for the purpose of investing with TZP Small Cap Fund II in certain portfolio company investments of TZP Small Cap Fund II at the same time and on the same terms on a pro rata basis based on relative commitment sizes of TZP Small Cap Fund II and the relevant TZP Small Cap Fund II Co-Investment Vehicles.  TZP Logix Holdco, LLC, a Delaware limited liability company  Kindred Bravely Co-Investment Holdings, LLC, a Delaware limited liability company  IR Investment Holdings, LLC, a Delaware limited liability company  Force Management Co-Investment Holdings, LLC, a Delaware limited liability company  Soccer Post Co-Investment Holdings, LLC, a Delaware limited liability company TZP Group Investments GP, a Delaware limited partnership, is the general partner of TZP Group Investments, L.P. (“TZP Group Investments”). TZP Group Holdings GP, a Cayman Islands limited liability company, is the general partner of a special purpose vehicle, TZP Group Holdings, L.P. (“TZP Group Holdings”). Certain TZP Group entities have entered into a strategic investment relationship with a strategic investor (the “Strategic Investor”) pursuant to which the Strategic Investor has made capital available for investment by TZP Group Investments and TZP Group Holdings with all successor funds (together, the “TZP Strategic Investor Funds”) to fund (a) growth equity investments, (b) structured capital investments, (c) stressed capital investments, (d) a portion of the capital commitments by TZP Group entities to TZP Capital Fund II, TZP Capital Fund III, TZP Capital Fund IV, TZP Small Cap Fund I and TZP Small Cap Fund II (the “Subject Funds”), (e) follow-on investments associated with companies in the Subject Funds, and/or (f) other investments consistent with the investment mandates of the Subject Funds. The investment by the Strategic Investor subjects the Advisers to conflicts of interest, as discussed under “Conflicts of Interest,” below. Further, TZP Group Investments GP is the manager of the following co-investment funds (collectively, the “TZP Group Investments Co-Investment Vehicles”), which were formed for the purpose of investing with TZP Group Investments in certain portfolio company investments of TZP Group Investments and TZP Group Holdings at the same time and on the same terms on a pro rata basis based on relative commitment sizes of TZP Group Investments, TZP Group Holdings, and the relevant TZP Group Investments Co-Investment Vehicles.  TZP Btux Investment, LLC, a Delaware limited liability company  IR Investment Holdings, LLC, a Delaware limited liability company TZP SBIC Partners Fund I GP, a Delaware limited liability company, is the general partner of the following private investment funds:  TZP SBIC Partners I, L.P. a Delaware limited partnership (the “TZP SBIC Partners I”) Additionally, in the future, TZP SBIC Partners Fund I GP may serve as the general partner of one or more alternative investment vehicles (any such vehicle, the “TZP SBIC Partners I Alternative Investment Vehicles”), which would be formed for the purpose of investing in a certain portfolio company investment of TZP SBIC Partners I. The TZP SBIC Partners I Alternative Investment Vehicles, together with TZP SBIC Partners I, any feeder vehicles, other alternative investment vehicles and special purpose entities are collectively referred to herein as “TZP SBIC Partners I.” For the sake of clarity, unless otherwise indicated, references in this Brochure to “TZP SBIC Partners I” include each of the above-named private funds. While the substantial majority of the terms of each above-named fund are the same, each of such funds was formed to suit the purposes of certain types of investors so there are slight variations in structure and investment terms among the funds. Investors should refer to the private fund’s Limited Partnership Agreement for specific terms with respect to that private fund. The Advisers’ advisory services for the Funds are detailed in the applicable private placement memoranda and the supplements thereto (each, a “Private Placement Memorandum” and, collectively, the “Private Placement Memoranda”) and the Limited Partnership Agreements of the Funds and are further described below under “Methods of Analysis, Investment Strategies and Risk of Loss.” Investors in a Fund participate in the overall investment program for the applicable Fund, but in certain circumstances are excused from a particular investment due to legal, tax, accounting, regulatory or other applicable considerations; such arrangements generally do not and will not create an adviser-client relationship between the Advisers and any investor. The Funds have entered into side letters or other similar agreements (“Side Letters”) with certain investors that have the effect of establishing rights under, altering or supplementing the terms (including economic or other terms) of the applicable Limited Partnership Agreements. As of December 31, 2023, the Advisers managed approximately $2.404 billion in client assets on a discretionary basis. The Advisers are controlled (within the meaning of the Advisers Act) by Samuel L. Katz. Please refer to TZP Management’s Form ADV Part 1A for a list of TZP Capital Fund II Manager’s, TZP Capital Fund III Manager’s, TZP Capital Fund IV Manager’s, TZP Small Cap Fund I Manager’s, TZP Small Cap Fund II Manager’s, TZP Group Investments Manager, and TZP SBIC Fund I Manager’s principal owners.