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Full Sail IP Partners
Full Sail IP Partners is an IP-focused investment firm managing over $500 million in a closed-end fund acquiring consumer and industrial brand assets.
Full Sail IP Partners
Full Sail IP Partners was founded in 2021 by Alan Kessler and Jeffrey Schneider, two veterans of intellectual property monetization. Kessler previously held senior roles at Hilco Streambank, a firm specializing in intangible asset valuation and disposition, while Schneider's background spans IP advisory and principal investing. The firm was established to pursue a thesis that identifiable, cash-flowing intellectual property — trademarks, patents, licensing rights — represents an investable asset class underserved by traditional private equity structures. The firm's strategy targets iconic, mature consumer and industrial brands where IP value can be separated from operating company baggage. Full Sail acquires outright ownership of trademark portfolios, patent estates, and licensing royalty streams, then manages those assets for yield through licensing programs, legal enforcement, and strategic renewals. The portfolio includes the Prym consumer sewing and crafting brand, acquired in 2022 from the Prym Group, and the assets of the Thomas & Betts electrical components brand, acquired from ABB in 2023. Geographic reach spans North America and Europe, reflecting the jurisdictions where its IP holdings are most enforceable. The firm operates a single committed fund vehicle, Full Sail IP Fund I, rather than an open-ended structure, creating a finite deployment window and a defined harvest period. Full Sail raised over $500 million in total commitments for its inaugural fund from institutional limited partners, including endowments, pension funds, and family offices (per Altss estimate). July 2023: The firm completed its acquisition of the Thomas & Betts trademark portfolio from ABB Installation Products, adding legacy electrical-component IP to its holdings (per public record). The team operates from Westport, Connecticut and New York, maintaining a lean headcount concentrated on IP valuation, legal enforcement, and royalty management rather than portfolio-company operations. Full Sail's fundamental structural differentiator is its asset-class isolation: it buys IP, not businesses. Unlike operating-company private equity, the firm carries no manufacturing plants, inventory, or workforce. Unlike royalty-focused funds that hold minority interests in song catalogs or drug revenue streams, Full Sail takes 100% ownership of its IP, giving it unilateral control over licensing, litigation, and eventual resale. That control comes paired with a closed-end fund mandate that forces asset monetization on a track, rather than letting royalty streams trickle indefinitely into an evergreen vehicle.
General information
Firm type
Asset Manager
Year founded
2021
AUM
$500M – $1B (Altss estimate)
Location
Region
North America
Country
United States
City
Westport
Corporate office
Westport, CT, United States
Additional offices
New York, NY, United States
Principals
Alan Kessler
Managing Partner & Chief Investment Officer
Jeffrey Schneider
Managing Partner
Sector focus
Frequently asked questions
How does Full Sail IP Partners source its intellectual property acquisitions?
Full Sail sources IP assets through proprietary channels that leverage the founders' deep networks in intangible asset advisory and corporate divestiture circles. Targets are typically non-core IP portfolios within large industrial or consumer conglomerates. The firm's closed-end fund structure and permanent-capital mandate make it a predictable, cash buyer for sellers seeking clean separation from legacy assets.
What is the difference between Full Sail's closed-end IP fund and a royalty fund?
Full Sail purchases full ownership of IP assets through a closed-end fund with a defined investment and harvest period. Royalty funds, by contrast, typically acquire partial rights to revenue streams — such as music rights or pharmaceutical royalties — in open-ended, perpetual vehicles. Full Sail's approach gives it unilateral control over licensing, enforcement, and ultimate resale, which it argues surfaces higher risk-adjusted returns than passive royalty collection.
What types of intellectual property does Full Sail IP Partners target?
The firm focuses on mature, cash-flowing IP in consumer products and industrial technology. Target assets include trademark portfolios with multi-decade recognition, patent estates generating active licensing revenue, and associated domain names and trade dress. The core criterion is that IP must be separable from an operating business and capable of generating standalone licensing income post-acquisition.
Who are the limited partners in Full Sail IP Fund I?
Full Sail raised over $500 million in commitments for its inaugural fund from a mix of institutional allocators, including endowments, pension plans, and family offices (per Altss estimate). The specific LP base has not been broadly publicized, but the firm has presented itself as targeting long-duration institutional capital aligned with the asset class's illiquidity profile and 10-year-plus fund life.
Does Full Sail IP Partners operate the businesses behind the brands it acquires?
No. Full Sail acquires the intellectual property rights and licenses them back to operating companies or to new licensees. It does not manage manufacturing, supply chains, or employees of any operating entity. This pure-play IP model separates brand value from operational risk, a key pitch to LPs seeking uncorrelated returns.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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