WELSH, CARSON, ANDERSON & STOWE ("WCAS") is one of the largest and most successful private equity investment firms in the United States. Since our founding in 1979, we have organized 15 limited partnerships with total capital of $20 billion. We are currently investing an equity fund, Welsh, Carson, Anderson & Stowe XI, L.P. ("WCAS XI"), and WCAS Capital Partners IV, L.P., a dedicated subordinated debt fund.
We focus our investment activity exclusively in information/business services and healthcare. Our strategy is to buy growth businesses, partner with outstanding management teams and build value for our investors through a combination of operational improvements, internal growth initiatives and strategic acquisitions. We differentiate ourselves from other private equity firms by our industry specialization, investment track record, operational investment focus, proprietary deal flow, repeat management teams and the