PSG, a prominent growth equity firm specialising in software and technology-enabled services, has successfully closed its sixth North American flagship fund, PSG VI, with $6bn in capital commitments, as well as a $2bn continuation fund which includes six portfolio companies.
PSG VI represents a significant increase over its predecessor fund, PSG V, which closed at $4.7bn in 2021. The growth equity firm, which focuses on scaling innovative software companies, has attracted a diverse group of institutional investors for its latest funds.
Key investors in PSG VI include high-profile entities include: California Public Employees’ Retirement System; New York State Common Retirement Fun; Washington State Investment Board; Massachusetts Pension Reserves Investment Management Board; Ohio State Teachers Retirement System; New Jersey Pension Fund; Texas Municipal Retirement System; Pennsylvania State Employees’ Retirement System; and San Antonio Fire & Police Pension Fund.
The continuation fund PSG Sequel is focused on six companies: Arcoro (HR software), LivTech (healthcare software), Nextlane (digital information technology), Semarchy (master data management), Singlewire Software (event management software), and Transit Technologies (transportation software).
Notable investors include the Canada Pension Plan Investment Board, Singapore’s sovereign wealth fund GIC, StepStone, and funds managed by Hamilton Lane.
