Welsh, Carson, Anderson & Stowe Raises Over $5 Billion

Welsh, Carson, Anderson & Stowe Raises Over $5 Billion

Newest fund is the largest fund WCAS has ever raised

Welsh, Carson, Anderson & Stowe (WCAS) has held an above target close of WCAS XIV LP (Fund XIV) with $5 billion of capital. The firm’s earlier fund (Fund XIII) closed in 2019 at its hard cap with $4.3 billion of capital.

Fund XIV was backed by long-time WCAS investors with a limited partner re-up rate of approximately 95% and the four largest investors in Fund XIV increased their capital commitment by approximately 25% from Fund XIII. Like its earlier funds, the firm’s general partners collectively represent one of the largest investors in FUND XIV.

“We are grateful for the strong support of our limited partners for Fund XIV,” said D. Scott Mackesy, a managing partner at WCAS. “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.”

In February 2023, WCAS invested in ImageTrend, a provider of software and data analytics to the emergency medical services, hospitals, paramedicine, and fire safety sectors. The company serves more than 40 states and nearly 3,000 customers in the United States and internationally. ImageTrend was founded in 1998 and is headquartered just south of Minneapolis in Lakeville, Minnesota.

With the closing of Fund XIV, WCAS has now raised over $31 billion of committed capital and has invested in 95 healthcare and 110 technology companies.

WCAS has offices in New York City and San Francisco.

© 2023 Private Equity Professional | July 18, 2023

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