PSG, a growth equity firm, 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, a spokeswoman said.
PSG invests in software and technology-enabled services companies. PSG VI is larger than its $4.5 billion predecessor fund, PSG V, which closed in 2021.
Investors in PSG VI include $533.4 billion California Public Employees’ Retirement System, Sacramento; $274.6 billion New York State Common Retirement Fund, Albany; $213.3 billion Washington State Investment Board, Olympia; $110.5 billion Massachusetts Pension Reserves Investment Management Board, Boston; $97.3 billion Ohio State Teachers Retirement System, Columbus;$70.2 billion New Jersey Pension Fund, Trenton; $42.7 billion Texas Municipal Retirement System, Austin; $37.7 billion Pennsylvania State Employees' Retirement System, Harrisburg; and $4 billion San Antonio Fire & Police Pension Fund.
PSG Sequel includes six portfolio companies, HR software company Arcoro, healthcare software company LivTech, digital information technology company Nextlane, master data management and integration company Semarchy, event management software company Singlewire Software and transportation software company Transit Technologies. Investors include the C$675.1 billion ($472 billion Canada Pension Plan Investment Board, Toronto; Singapore’s $84 billion sovereign wealth fund GIC; money manager StepStone and funds managed by Hamilton Lane.
PSG has about $28 billion in assets under management.
