Thorne joins TPG Growth

TPG Growth said May 30 that Heather Smith Thorne has joined the platform as partner. Thorne was previously a managing director and partner at Swander Pace Capital.


TPG Adds Heather Smith Thorne as Business Unit Partner  

Experienced investor will help develop TPG Growth’s consumer practice  

San Francisco and Fort Worth, Texas – May 30, 2019 – TPG Growth, the middle market and growth equity platform of global alternative asset firm TPG, announced today that Heather Smith Thorne has joined the platform as Partner. Smith Thorne will lead consumer investing and strategy for the TPG Growth platform. She is based in San Francisco.

“Over the years, TPG Growth has developed a dynamic and diverse consumer portfolio, ranging from iconic guitar brand Fender, to advocacy-driven cosmetics and skincare company Beautycounter,” said Smith Thorne. “I’m thrilled to join the platform, and look forward to working closely with the team to help grow existing investments and source new and exciting opportunities in the sector.”

Smith Thorne brings 15 years of experience investing in the consumer industry to TPG. Most recently, she served as Managing Director and Partner at Swander Pace Capital, a leading private equity firm specializing in middle market consumer products companies. Previously, she was a Vice President at Thoma Bravo. Smith Thorne began her career as an Investment Banking Associate at SunTrust Robinson Humphrey. She holds an MBA from the Kellogg School of Management at Northwestern University, where she was an Austin Scholar, and a BA from Vanderbilt University.

“Heather is a growth-oriented investor with a deep understanding of the consumer sector,” said Jim Coulter, Co-Founder and Co-CEO of TPG. “Her creativity and hands-on experience working with companies to build, modernize, and scale their businesses align well with our strategy, making her a great fit to lead our consumer team. We’re thrilled to welcome Heather to the firm.”

Across the globe, some of TPG Growth’s investments in the consumer sector have included Angie’s BOOMCHICKAPOP, Beautycounter, Campus Activewear, elf Beauty, Fender, Lenskart, Mendocino Farms, Philz Coffee, and Trace.

TPG Growth

TPG Growth is the middle market and growth equity investment platform of TPG, the global alternative asset firm. With approximately $12.8 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The firm is backed by the resources of TPG, which has more than $104 billion of assets under management. For more information, visit

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