Private Equity · Profile from Private Equity Research Companion
Veritas Capital
New York–based private equity firm founded in 1992 that invests "at the intersection of technology and government." It specializes in complex carve-outs and take-privates of companies that sell technology, services and data to government agencies, health systems, payers and educators. Under Ramzi Musallam it built a reputation for some of the best returns in large-cap PE (Athenahealth, Guidehouse, Truven) and for assembling national-security IT giants (Peraton) and Medicaid-technology platforms (Gainwell).
At a glance
- Founded
- 1992, New York, NY
- Founder
- Robert B. McKeon
- Current leader
- Ramzi M. Musallam, CEO and Managing Partner (joined 1997)
- AUM
- Reported ~$45–50bn+ (2024–2025); verify against latest disclosures
- Focus
- Government services and technology (defense, intelligence, civilian), healthcare technology (payers, providers, Medicaid), education, and data/analytics
- Signature tools
- Corporate carve-outs, complex government contracting expertise, platform mergers (Verscend + Cotiviti; Peraton + Perspecta + Northrop IT), take-privates with Elliott's Evergreen Coast Capital
12 deals and moves analysed
Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.
2005
DynCorp International
Corporate Carve-Out
2007
Aeroflex
Consortium Take-Private
2012
Truven Health
Corporate Carve-Out
2016
Verscend
Corporate Carve-Out
2017
Peraton Perspecta
Carve-Out
2018
Cotiviti
Take-Private and Merger with Verscend
2018
Guidehouse
Carve-Out and Navigant Take-Private
2019
Athenahealth
Activist-to-Private Take-Private with Elliott
2020
Gainwell
DXC Carve-Out
2021
Cubic
Take-Private with Elliott/Evergreen
2022
Houghton Mifflin Harcourt
Take-Private
2023
Wood Mackenzie
Corporate Carve-Out from Verisk