Durability is an underrated quality in business. Firms come and go, strategies shift with market conditions, and leadership transitions often change the direction of an organization. Against that backdrop, Reeve Waud’s record stands out. He has led Waud Capital Partners for more than 30 years without a change in leadership, strategy, or values. And he’s approaching 38 years of marriage with the same steadiness.
Reeve and Melissa Ann Wheeler married on August 20, 1988, at the First Church of Round Hill in Greenwich, Connecticut. Both were Middlebury College graduates, class of 1985. As the anniversary nears, the couple’s enduring partnership mirrors the original New York Times announcement.
The 1988 Wedding
The ceremony was officiated by Dr. Olin Robinson, the president of Middlebury College. Melissa’s family was from Greenwich and Verbier, Switzerland; Reeve’s from Lake Forest, Illinois. After the wedding, the couple settled in the Chicago area, where Reeve had roots and where he would soon build his career. See the Chicago Tribune’s coverage from that fall.
Melissa had attended Miss Porter’s School and Middlebury, and worked at Bergdorf Goodman in New York before the wedding. Reeve earned his MBA from the Kellogg School of Management at Northwestern after completing his undergraduate work at Middlebury.
Waud Capital’s Endurance
When Reeve launched Waud Capital Partners in 1993, the firm consisted of one person and $5,000. Today, it manages approximately $4.6 billion in assets under management with a staff of nearly 70 professionals. The firm has completed more than 480 investments, with a focused strategy centered on healthcare and software & technology. Learn more at Reeve launched Waud Capital Partners in 1993.
Rather than pursuing ever-larger fundraises, the firm has maintained a disciplined approach. Its sixth fund targeted $1 billion—modestly below the roughly $1.1 billion raised by its two predecessors.
Acadia Healthcare’s Growth
The firm’s most prominent achievement remains Acadia Healthcare, which Waud Capital formed in 2005. Acadia went public in 2011 and has since become the largest stand-alone behavioral health provider in the United States, with a network spanning more than 250 locations. The company’s growth was built on the same principles that define Reeve’s approach to everything: find the right people, commit for the long term, and completed its merger to become publicly traded.
More about Reeve Waud’s background is available at www.f6s.com/member/reeve-waud.
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