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Adviser Profile

As of Date 07/12/2024
Adviser Type - Large advisory firm
Number of Employees 100
of those in investment advisory functions 65 -13.33%
Registration SEC, Approved, 03/21/2012
AUM* 15,137,155,909 -4.44%
of that, discretionary 15,137,155,909 -4.44%
Private Fund GAV* 15,137,155,909 -6.21%
Avg Account Size 688,052,541 -4.44%
SMA’s No
Private Funds 22
Contact Info 212 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
16B 14B 11B 9B 7B 5B 2B
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypePrivate Equity Fund Count22 GAV$15,137,155,909

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Brochure Summary

Overview

WCAS is a corporation formed under the laws of the state of Delaware. Jonathan Rather is the only shareholder who owns more than 25% of WCAS. WCAS (or its predecessors) has been in business since 1979. WCAS Management is an affiliate of WCAS and a relying adviser. WCAS Management is a limited partnership formed under the laws of the state of Delaware. D. Scott Mackesy is the only shareholder who owns more than 25% of WCAS Management. References in this brochure to the “Firm” relate to WCAS and/or WCAS Management as applicable. Each of WCAS and WCAS Management serve as an investment manager to certain related private investment partnerships or limited liability companies organized to make private equity investments in equity securities (each, a “Partnership”). WCAS and WCAS Management are also parties to a sub-advisory agreement, pursuant to which WCAS Management serves as sub-adviser with respect to certain Partnerships for which WCAS serves as investment manager. The Partnerships invest in growth-oriented companies within the healthcare and technology industries. The Partnerships’ investment strategy is to (i) buy securities of growth businesses in our two core industries, (ii) partner with outstanding management teams and (iii) realize value after a combination of operational improvements, internal growth initiatives and strategic acquisitions at such businesses. The Firm’s investment management services consist of advising the Partnerships with respect to investigating, identifying, and evaluating investment opportunities, structuring, negotiating and executing investments on behalf of the Partnerships, managing and monitoring the performance of investments, and disposing of investments. In addition, the Firm provides consulting services
to companies in which the Partnerships invest through its Resources Group (as described in more detail below). The Firm’s nine equity Partnerships, Welsh, Carson, Anderson & Stowe XI, L.P., Welsh, Carson, Anderson & Stowe XII, L.P., Welsh, Carson, Anderson & Stowe XII Cayman, L.P., Welsh, Carson, Anderson & Stowe XII Delaware, L.P., Welsh, Carson, Anderson & Stowe XII Delaware II, L.P., WCAS XIII, L.P., WCAS XIII Cayman, L.P., WCAS XIV, L.P. and WCAS XIV Cayman, L.P. (each, an “Equity Partnership”), four feeder funds, Welsh, Carson, Anderson & Stowe XII Feeder Fund, L.P., Welsh, Carson, Anderson & Stowe XII Delaware II Feeder Fund, L.P.,WCAS XIII Feeder Fund, L.P., WCAS XIV Feeder Fund, L.P. (each, a “Feeder Fund” and, collectively, the “Feeder Funds”), four co-investment holding companies, WCAS Co-Investment Holdco, L.P., Muir Woods Partners, L.P., WCAS XIV Flora Co-Invest LLC and WCAS XIV N Co-Invest, L.P. (collectively, “Holdcos”), and employee and consultant co-investment vehicles WCAS XI Co Investors LLC, WCAS XII Co-Investors LLC, WCAS XIII Co-Investors LLC, WCAS XIV Co Investors I LLC and WCAS XIV Co-Investors II, LLC (collectively, “Co-Investors”) have approximately $15.1 billion in regulatory assets under management as of December 31, 2023. In providing services to each Partnership, the Firm advises the Partnerships in formulating the investment objective for each Partnership, and in managing the investment and reinvestment of each Partnership’s assets. The Firm also provides periodic reports to investors in each Partnership. Investment advice is provided directly to each Partnership and not individually to the limited partners of the Partnerships in accordance with the terms of the governing documents applicable to each Partnership.