Barings Supports PSG Equity’s Investment in CoverManager
Barings, one of the world’s leading investment managers, announced its role as sole lender of senior secured credit facilities to support PSG Equity’s (“PSG”) investment in CoverManager via their portfolio company Zenchef. The transaction combines two leading providers of digital solutions for restaurants and hospitality venues across Europe and Latin America, creating a European leader in restaurant revenue management. The combined group serves a network of over 36,000 restaurants handling more than 650 million guest experiences annually across 20+ countries.
Founded in 2011, Zenchef is a French end-to-end restaurant software platform focused on bookings enablement, venue management, marketing automation, and payments. Zenchef serves restaurants across Europe, with market leading positions in France, Belgium, and the Netherlands. PSG made their initial investment in Zenchef in 2022.
Established in 2015, CoverManager is a Spanish based company providing reservation and guest management software for restaurants, nightclubs, and beach clubs across Europe and Latin America.
About Barings
Barings is a $456+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.
*As of June 30, 2025
About PSG Equity
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 150 companies and facilitated over 520 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid, and Tel Aviv.
