Providence Strategic Growth (PSG) Capital Partners LLC, a U.S. investment firm, has raised $2 billion in capital commitments for its fourth fund.
The new fund, PSG Fund IV, received commitments from previous and new backers, including state pension funds, sovereign wealth funds, family offices and high net worth individuals.
With the new capital received, PSG Fund IV will further the firm’s buy and build strategy, to expand businesses through organic and inorganic growth strategies.
Providence Strategic Growth, a unit of Providence Equity Partners L.L.C., said that the closing of PSG Fund IV boosts the amount of its aggregate capital commitments to over $4 billion.