Providence Strategic Growth Capital Partners closed its latest flagship private equity fund, PSG V, at its hard cap of $4.5 billion, 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 $2 billion in capital commitments in 2019.
Investors in the latest fund include the $148.8 billion State of Wisconsin Investment Board, Madison; the $81.8 billion Alaska Permanent Fund Corp., Juneau; the $39.2 billion South Carolina Retirement Systems, Columbia; and the $35 billion Pennsylvania State Employees' Retirement System, Harrisburg.
The company could not be immediately reached for comment.