TSG promotes two

Beauty and personal care products specialist TSG Consumer Partners has promoted Brian Krumrei to managing director.

TSG Consumer Partners has promoted two of its own, the firm announced in a statement.

Brian Krumrei has been elevated to the role of managing director where, as a member of the firm’s investment committee, he will be tasked with developing new investment opportunities for the firm. He will also contribute to due diligence efforts and work with portfolio companies. Krumrei negotiated the firm’s acquisition of hairstyle products maker Sexy Hair, as well as its investment in accessory designer Rebecca Minkoff, according to a statement.

Prior to joining TSG in 2005, Krumrei was the head of corporate development group at Asurion. He has also worked at Kohlberg Kravis Roberts and The Blackstone Group.

The firm also promoted Jenny Baxter to principal, where she will be responsible for originating and structuring investments. Baxter participated in the firm’s investment in Smashbox Cosmetics, and its sale to Estee Lauder.

Before TSG, Baxter was a member of the consulting team at Bain & Company.

TSG closed on its sixth fund last year, hitting $1.3 billion in 60 days. The firm received strong support from its existing limited partners, in addition to bringing in new investors, managing director and president James O’Hara told Private Equity International in a previous interview.

Earlier this year, the firm invested an undisclosed amount in jewelry designer Alexis Bittar.

TSG was founded in 1987 and targets investments in the beauty, personal care, food, beverage and household sectors. The firm manages $2.9 billion in assets as of April, according to a statement.