There’s a new joint venture in town looking to acquire or finance consumer brands and their intellectual property assets in partnership with Bluestar Alliance.

Hilco Global and TPG Angelo Gordon have formed a joint venture (JV) that will see them work alongside Bluestar as they scout out investments in the consumer-retail sector.

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One of the early JV deals includes a co-investment with Bluestar to acquire the international luxury streetwear brand Off-White from LVMH. Bluestar disclosed the transaction last month. Other transactions the JV has completed include the assets and IP of fashion brand Bebe and Brookstone from Bebe Stores Inc. The JV is also a party to a $190 million investment in a securitization transaction established by BR Brand Management to finance certain brands either managed, licensed, or co-owned by Bluestar. These brands include Hurley, Justice, and Scotch & Soda, among others.

“We’re thrilled that Hilco Global and TPG Angelo Gordon will be new partners in many of our brands,” Bluestar cofounder and CEO Joseph Gabbay and co-founder and chief operating officer Ralph Gindi said in a statement. “TPG Angelo Gordon brings significant resources and expertise investing within the consumer sector, and Hilco has an impressive track record of successfully operating and investing in brands and other consumer assets globally.”

The two added that they are looking forward to leveraging their “combined expertise to identify and invest in future brand deal opportunities all over the world.”

“This partnership is an exciting opportunity for Hilco, allowing us to further build on our successful legacy in the consumer brand and licensing sectors,” said Jeffrey Hecktman, Hilco Global’s founder and CEO said. Hilco has been active investors in consumer brands for years, mostly specializing in the repositioning of underleveraged and iconic names. Portfolio companies under the Hilco Brands division that were repositioned and sold include apparel brands Ellen Tracy, Caribbean Joe and Bob Marley, and in the home category Bombay Brands and Linen’s and Things.

“TPG Angelo Gordon has been investing in the consumer sector for many years, and we are excited to work with industry-leading partners to capitalize on attractive market opportunities in the sector,” TPG Angelo Gordon’s global head of credit solutions Ryan Mollet and co-head of research in the credit solution business Jake Gladstone said in a joint statement. “We believe combining Bluestar’s licensing and operating expertise, Hilco’s unique sourcing and asset capabilities, and TPG Angelo Gordon’s structuring and financial expertise creates a differentiated competitor, and we are eager to grow this platform.”