U.S. Equity Partners I, which invested approximately $425 million of equity capital (including co-investments), was raised in 1997-98, and is currently in its harvest stage.   U.S. Equity Partners II, which raised approximately $480 million in commitments (and is expected ultimately to invest at least $700 million of equity capital, including co-investments), is early in its investment phase and is actively seeking investment opportunities.   Wasserstein & Co. also manages residual leveraged buyout investments made by its predecessor firm through a historical investment fund.