New York-based private equity firm Welsh Carson Anderson & Stowe’s (WCAS) is reportedly looking to raise $3bn for its next fund.
Welsh Carson is expecting to hold a first close for WCAS XII in July next year, said PeHUB, citing a source.
The new fund is smaller than the $3.7bn previous vehicle raised by the firm in 2009, which had an IRR of 11.4 per cent at the end of March, according to CalPERS data.
WCAS is deal size agnostics and is focused on the healthcare and information and business services sectors.
Since its launch in 1979, WCAS has raised and managed more than $20bn. The firm currently has 30 portfolio companies including security-as-a-service specialist Alert Logic, which was acquired from venture capital firms including Covera Ventures, Access Venture Partners and Industry Ventures in August this year.
The firm’s former portfolio companies include contact lens maker Bausch and Lomb, which was sold to Valeant Pharmaceuticals in May.
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