PSG has hired Bogdan “Bo” Cenanovic as managing director following his departure from the C$243 billion ($188 billion) Ontario Teachers’ Pension Plan, where he was the head of technology, media & telecom, financial services and healthcare.
Cenanovic joins the Boston-based firm as a managing director and has been charged to bolster PSG’s Canadian deal flow pipeline. Since 2014, PSG has completed four investments in Canada — DigitalEd, Introhive, Penny AI and Wagepoint — in addition to 28 add-on acquisitions.
Cenanovic remains in Toronto and reports to PSG Co-Founders CEO Peter Wilde and Chairman Mark Hastings. In the new position, he will lead underwriting or PSG’s Encore strategy, which is primarily focused on making investments in select PSG portfolio companies upon their complete or partial exit from PSG’s funds in order to support their growth for a longer period.
“While Bo has been known to us for some time, we’re thrilled to welcome him to the firm to guide our investment strategy in identifying some of Canada’s leading software companies as we continue to fuel our team globally with established, on-the-ground expertise in the areas in which we invest,” said Wilde in a statement. “Over the past 10 years, I’ve seen Bo exemplify the values we prioritize at PSG, specifically while serving on the board of Ascend Learning together. I am confident he will seamlessly bring the PSG approach to Canada and help us execute against our goal of a strong deal flow pipeline in the region.”
The hire of Cenanovic is thought to be a way to expand PSG’s presence and network in the region. To date the firm has raised $10 billion in capital.
Cenanovic had been at Ontario Teachers in Toronto since 2009. He was involved in several transactions in the pensions investments in technology, media and telecom, financial services and healthcare sectors. One of those investment deals was in Ascend Learning, which he worked on with Wilde and Bill Aliber of PSG.
“PSG has significant experience serving as an accelerant for growth-stage tech companies, and I’m eager to work with the team to enhance the company’s presence in Canada,” said Cenanovic in a statement. “Peter and Bill have been wonderful long-time colleagues of mine, and I’m looking forward to combining our strengths and expertise under the PSG umbrella.”