Providence Strategic Growth Pitches $4 Billion Fifth Fund

Providence Strategic Growth Capital Partners is pitching investors on a new $4 billion fund, according to people familiar with the fundraising, which would make it the investment firm’s largest fund should it reach that target.

The new fund, called PSG V LP, would be double the size of predecessor Providence Strategic Growth IV LP, which closed with $2 billion in September 2019. Providence Strategic Growth is the former growth-equity arm of media and communications-focused firm Providence Equity Partners.

Providence Strategic Growth (“PSG”) is an affiliate of Providence Equity Partners (“Providence”). 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