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Arguably the largest pure-play healthcare PE firm (could argue it is New Mountain or Veritas instead but all these firms, including WCAS do non-healthcare investing today).

Really really old firm, founded 1979. They raised their 13th fund at $4.3bn recently. That is older than most megafunds. This is a good thing in the sense that they have lived through many market scenarios.

If you like healthcare, this is the place to be. Really well known in healthcare e.g. see joint venture with Humana: https://www.globallegalchronicle.com/welsh-carson-anderson-stowes-joint… Bought Shields with Walgreens: https://www.businesswire.com/news/home/20190731005125/en/Shields-Health…

From 2000-2015, kept oscillating between smaller and larger funds in the $3-4bn band - so returns may not have been consistent. But has clearly made a come back with largest fund ever recently.

 

Ex-employee. Culture is very uptight. Hours are as bad as other mega shops, sometimes worse. Pay relatively to others similar size fund, definitely below average. Very vague bonus structure (associates sometimes tiered into 3/4 buckets). Partners don't really talk to anyone P/VP level below . Very cold culture with a lack of care and training for juniors. A LOT of turnover last few years. Would not recommend for juniors who are looking for a good experience. 

 

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