Providence Strategic Growth Capital Partners, or PSG, has returned to the fundraising trail with plans to raise €2bn, equivalent to about $2.26bn, to back investments in European software and technology-enabled companies, people familiar with the firm say.
The new fund, Providence Strategic Growth Europe II LP, is at least the fourth fund that the Boston-based firm has raised or sought to raise this year as investor appetite for private equity has put the industry on track for a record fundraising year.
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PSG is an affiliate of Providence Equity Partners. Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value.
Source: Wall Street Journal
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