Welsh, Carson, Anderson & Stowe Overview
Welsh, Carson, Anderson & Stowe (also referred to as Welsh Carson or WCAS) is a private equity firm located in New York, USA. WCAS was established in 1979 and primarily invests in US-based companies in the healthcare and technology sectors.
The investment strategy of WCAS is to:
- Buy growth businesses
- Partner with outstanding management teams
- Bring value for WCAS’ investors through strategic acquisitions, internal growth initiatives, and operational improvements.
The firm differentiates itself from other investment firms by their industry specialization, growth oriented and operational focus, strong track record, repeat management teams, and their financial commitment and continuity.
Patrick Welsh, Russell Carson, and Bruce Anderson established WCAS in 1979. Russ Carson and Patrick Welsh both worked at Citicorp Venture Capital as Chairman and President, while Bruce Anderson as Executive VP of Automatic Data Processing.
Welsh, Carson, Anderson & Stowe AUM
According to most recent regulatory filings, Welsh, Carson, Anderson & Stowe has $15.8 billion in assets under management as of March 31, 2023.
Welsh, Carson, Anderson & Stowe Interview Process & Questions
Firms can make changes in their interview process for each candidate. However, there are some parts of the process that remains consistent if you interview at Welsh, Carson, Anderson & Stowe (or a firm like it) such as the following:
- 4 to 6 rounds of interviews
- Junior investment professionals or the HR team supervise the initial rounds, while the more senior staff handle the later rounds
- The entire process usually takes several weeks – unless it is “on-campus” or “on-cycle” recruiting
Interviews at Welsh, Carson, Anderson & Stowe typically consist of behavioral questions, fit questions, and technical / investing questions.
If you need resources to better prepare for your interview, check out my Growth Equity Interview Guide.
Why Welsh, Carson, Anderson & Stowe
“Why this firm” is the most common and crucial question you’ll encounter during interviews.
If you’ve met people who work at the firm during your networking efforts, this is the perfect opportunity to mention whoever you’ve connected with and share how they’ve positively influenced your decision to join the firm.
Another good practice before showing up at interviews is doing some research about the firm. One way to do this is to listen to interviews with its founders, investors, and employees.
For starters, here’s an excellent discussion with Mark Tomaino, an operating partner at Welsh, Carson, Anderson & Stowe:
Welsh, Carson, Anderson & Stowe Case Study
Case studies are almost always part of the interview process. That’s because firms use case studies to evaluate their candidates’ communication skills and technical knowledge.
Most case studies at firms like Welsh, Carson, Anderson & Stowe center around financial modeling and investment recommendations. But for junior roles, a cold calling case study may be required as well.
For a comprehensive discussion of case studies, check out my Growth Equity Interview Guide.
Welsh, Carson, Anderson & Stowe Salary & Compensation
According to Glassdoor’s data, if you work at Welsh, Carson, Anderson & Stowe as an Analyst, you can earn an estimated total pay of $103,363 per year. If you’re an associate, your total pay is approximately $113,881 per year. However, these figures can still vary depending on the candidate’s level of experience, education, and skill set.
Welsh, Carson, Anderson & Stowe Careers, Jobs, & Internships
To view vacancies at Welsh, Carson, Anderson & Stowe, head over to our job board where we also feature open roles at similar firms.
Welsh, Carson, Anderson & Stowe Portfolio & Investments
According to Crunchbase, Welsh, Carson, Anderson & Stowe has made 28 investments and manages 5 funds. Some of their notable deals include Linq, Revel Systems, and ImageTrend.
Notable Transaction: Kiniciti
Kiniciti is a newly-formed platform established to help and partner with companies with the potential to strengthen and transform the cell and gene therapy landscape.
With their collaborative, flexible, and highly tailored investment and strategic support system, Kiniciti aims to deliver cell and gene therapeutics quickly and safely to patients who are in need worldwide.
In February 2021, Welsh, Carson, Anderson & Stowe made a financial commitment worth $250 million to Kiniciti and formed a strategic partnership with the said company.
Kiniciti allocated the investment in a cross section of CGT opportunities, both small and large, across different locations.
Welsh, Carson, Anderson & Stowe can be an excellent firm for anyone building a career in finance and interested in the healthcare and technology space. If you’re looking to land a role at the firm, I highly suggest you first check out my Growth Equity Interview Guide.
This self-paced online course will help you get a good grasp of growth equity concepts which you’ll encounter during your interviews. Countless professionals had successfully made the jump into growth equity investing with the help of Growth Equity Interview Guide.
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