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Laxman Pai, Opalesque Asia: Healthcare and tech-focused private equity major Welsh, Carson, Anderson & Stowe (WCAS) closed its latest fund, WCAS XIV LP, with more than $5 billion in capital commitments, as the firm looks to continue its focus on tech and health care through strategic mergers and acquisitions.
The Fund closed at over $5 billion of total capital, above both its target and the Firm's prior fund, WCAS XIII, L.P., which closed at $4 billion, said a media release from the U.S. private equity firm.
The Firm said that WCAS XIV received strong support from new and long-time WCAS investors with a Limited Partner re-up rate of approximately 95% and the four largest investors in WCAS XIV increased their capital commitment by approximately 25% from WCAS XIII.
As in prior funds, the Firm's General Partners collectively represent one of the largest investors in WCAS XIV.
As with prior funds, WCAS XIV will seek to partner with management teams to acquire growing companies and drive value through operational improvements as well as organic and strategic M&A growth initiatives.
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.
WCAS Managing Partner D. Scott Mackesy said: "We are grateful for the strong support of our Limited Partners for WCAS XIV. We look forward to continuing to pursue our proven strategy of partnering with outstand...................... To view our full article Click here
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