Firm: TZP Capital Partners
Fund: TZP Capital Partners II LP
Target: $300 million
Amount Raised: $180 million
The New York-based sponsor is headed by managing partner Samuel Katz, a former financial analyst at Drexel Burnham Lambert and vice president at The Blackstone Group who worked on leveraged buyouts of several hotel brands before joining hotel franchise operator Cendant Corp between 1996 and 2005, according to his biography on TZP Group’s website. Katz joined MacAndrew & Forbes Acquisition Holdings Inc, the investment vehicle for dealmaker Ronald Perelman, in 2006 as chief executive officer and worked there until 2007.
“We believe TZP is uniquely suited for motivated owners and management teams who desire a true partnership with a focused, dedicated, value-added investment firm,” TZP said on its website.
TZP Group’s acquisition of Los Vegas-based BQ Resorts LLC on April 1 marks its most recent investment, according to data from the Thomson One private equity database. TZP Group bought TMM Enterprises LLC in 2012 and Media Storm LLC in 2011.
Along with Katz, officers at TZP Capital Partners II include Daniel Galpern, a TZP partner and former merger deal specialist at the law firm Skadden, Arps, Slate, Meagher & Flom LLP and Vladimir Gutin, a partner at TZP and 13-year veteran at Goldman Sachs.
The date of first sale for TZP Capital Partners II LP was listed as May 17.
The fund comes five years after TZP Capital Partners I LP raised $152.5 million, according to a regulatory filing. The placement agent on Fund I was Sixpoint Investments LLC.