Welsh, Carson, Anderson & Stowe (WCAS) was formed in 1979 and has focused its investment activities in two growth industries: information/ business services and healthcare. WCAS manages $20 billion in capital and has a current portfolio of over 30 companies. The firm is currently investing equity funds Welsh, Carson, Anderson & Stowe XI, L.P. (WCAS XI), and WCAS Capital Partners IV, L.P., a dedicated subordinated debt fund. Since its inception, WCAS has invested in over 160 companies in its core industries and has funded over 650 follow-on acquisitions.