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Laxman Pai, Opalesque Asia: PSG, a growth equity firm that partners with software and technology-enabled services, announced the closing of its sixth North America flagship fund, $6 billion PSG VI, and a continuation fund with six portfolio companies, $2 billion PSG Sequel.
According to a media release from the Boston-based growth investor, PSG VI surpassed its $4.7 billion predecessor fund. The fund received commitments from new and existing investors, including state and corporate pensions, sovereign wealth funds, and family offices.
In addition, PSG closed a continuation fund, PSG Sequel, with $2 billion in capital commitments from blue-chip institutional investors, including Canada Pension Plan Investment Board (CPP Investments), GIC, StepStone, and funds managed by Hamilton Lane.
Through PSG Sequel, PSG is retaining its stakes in six portfolio companies, continuing to support their growth while providing its fund-limited partners the optionality to remain invested in these companies for the next phase of growth or receive liquidity at an attractive valuation. Assets in the fund are Arcoro, LivTech, Nextlane, Semarchy, Singlewire Software, and Transit Technologies.
According to the release, with a team of 269 professionals, including 160 investment professionals, and complemented by a group of 39 Senior Advisors, PSG makes majority and minority investments in growth-stage software and technology-enabled services companies. "Since its founding in 2014, PS...................... To view our full article Click here
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