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 14 limited partnerships with total capital of over $16 billion. We are currently investing Welsh, Carson, Anderson & Stowe X, L.P. ("WCAS X"), a $3.4 billion equity fund, and WCAS Capital Partners IV, L.P., a $1.3 billion dedicated subordinated debt fund.
We focus our investment activity exclusively in information/business services and healthcare. Our strategy is to buy growth businesses in our target industries and build value through both internal growth and acquisitions, resulting in superior returns for our investors. We are the largest private equity investor in our two industries. 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 experience of our General Partners.
Since inception, we have invested in over 150 companies in our core industries and have funded over 650 follow-on acquisitions. Across all WCAS Partnerships, the current portfolio consists of twenty-nine companies with combined revenues of over $22 billion and EBITDA of over $4.5 billion. Our investment experience provides us with an intrinsic knowledge and leadership position within our target industries, allows us to identify, source, close and add value to our investments and, most importantly, provides superior returns to our investors.
Our unique combination of investment experience, industry focus, and capital resources allows us to react quickly to prospective new investment opportunities and provide significant strategic and operational value to our portfolio companies.
Investors in our previous Partnerships include many of the nation's most prominent institutions, including public and private pension funds, banks, insurance companies, university endowments and other institutional investors. Most of our investors have participated in several WCAS Partnerships.
