PSG, a growth equity firm partnering with middle-market software and technology-enabled services companies, has closed PSG V, its fifth U.S. flagship fund, at its hard cap with $4.5 billion in third-party limited partner commitments. It received commitments from both existing and new investors, including state and corporate pension funds, sovereign wealth funds and family offices.
Through PSG V, the firm will continue its commitment to its founding ‘buy and build’ strategy focused on helping middle-market software companies grow through strategic value creation initiatives in addition to sourcing and facilitating add-on acquisitions.
“Since inception, we’ve been extremely thoughtful in charting PSG’s expansion and we’re thrilled to arrive at this milestone with continued confidence in our strategy,” said Mark Hastings, co-founder and CEO of PSG. “We’re grateful for the support of our new and returning investors as we continue to scale and partner with a growing number of exceptional entrepreneurs and management teams.”
Peter Wilde, co-founder and chairman of PSG, added, “The significant investor demand for PSG V and the exciting trajectory that the firm is on is a true reflection of our entire team’s dedication, our investment approach and, most importantly, the hard work of our network of portfolio companies.”