PSG Equity has closed its third European investment fund, PSG Europe III, at €4.4 billion, roughly NOK 47 billion, Shifter reports. The fund reached its stated upper limit. The capital came from institutional and private investors and is available for PSG's investment strategy; it was not a funding round raised by a startup or by one of the firm's portfolio companies.
PSG Equity invests in software and technology-driven service businesses. According to Shifter, the firm has examined Norwegian companies as possible investments and already has Nordic portfolio activity. The new fund close gives PSG capital to consider further transactions, including in the region, but it does not establish that a specific Norwegian company has received an investment from this fund.