Providence Strategic Growth Capital Partners closed its latest flagship private equity fund, PSG V, at its hard cap of $4.5bn, the company announced in a news release Tuesday.
The fund targets investments in middle-market software and technology-enabled services companies.
The previous fund in the series, PSG IV, closed on $2bn in capital commitments in 2019.
Free Webinar: Digitization in Private Equity: The Paradigm Shift to Increased Returns
- How private equity firms can digitise their portfolio companies
- Development and implemention of effective tech strategy roadmaps
- What the future holds for those who do digitize their portfolios, and where those who don’t will end
Investors in the latest fund include the $148.8bn State of Wisconsin Investment Board, Madison; the $81.8bn Alaska Permanent Fund Corp., Juneau; the $39.2bn South Carolina Retirement Systems, Columbia; and the $35bn Pennsylvania State Employees’ Retirement System, Harrisburg.
The company could not be immediately reached for comment.
Source: Pensions & Investments
Can’t stop reading? Read more
Temasek’s Azalea bets on evergreen structure to democratise private equity access
Temasek's Azalea bets on evergreen structure to democratise private equity access Azalea, a unit...
Adams Street Partners closes sixth co-investment fund at $2.5bn
Adams Street Partners closes sixth co-investment fund at $2.5bn Adams Street Partners has held the...
CVC Capital and GTCR make joint bid to take Teleflex private
CVC Capital and GTCR make joint bid to take Teleflex private CVC Capital Partners and GTCR have...