Welsh, Carson, Anderson & Stowe Raises $5B for Healthcare, Tech Fund

Welsh, Carson, Anderson & Stowe, a New York-based private equity firm focused on the healthcare and technology industries, raised $5 billion for its 14th fund, WCAS XIV LP, exceeding both its target and the firm’s prior fund, WCAS XIII LP, which closed at $4 billion.

WCAS said the fund received strong support from new and existing investors with a Limited Partner re-up rate of approximately 95%, and the four largest investors in the fund increased their capital commitment by approximately 25% from its predecessor. As in prior funds, the firm’s General Partners collectively represent one of the largest investors in WCAS XIV.

WCAS XIV will continue the firm’s strategy of investing in growing companies and drive value through operational improvements as well as organic and strategic M&A growth initiatives.

“We look forward to continuing to pursue our proven strategy of partnering with outstanding management teams to build leading companies in our two specialized industries – healthcare and technology,” said D. Scott Mackesy, WCAS managing partner.

Since WCAS’s founding in 1979, the firm has raised over $31 billion of committed capital and has invested in over 95 healthcare and 110 technology companies.