Welsh makes wealth. Private equity firm Welsh, Carson, Anderson & Stowe (WCAS) invests in growing health care, and information and business services companies. It typically seeks controlling stakes in its target companies, partners with existing management in guiding strategy, and often adds to their operations via follow-up acquisitions. Founded in 1979, WCAS has raised approximately $20 billion of capital from institutional investors such as pension funds, banks, insurance companies, and university endowments, and has made investments in more than 160 companies. The company, which is currently investing a $3.5 billion equity fund, has interests in some 35 companies in its portfolio.