In this episode of The Distribution, host Brandon Sedloff sits down with Ted Gooden, founder of Växa Partners and a seasoned advisor in private markets, to explore the state of strategic consolidation across investment management. With more than two decades of experience and over 100 transactions under his belt, Ted shares the playbook behind how private equity, credit, and real estate platforms have scaled—and what it takes for firms to compete today.
They unpack the forces behind the rise of mega-managers, the consolidation play that shaped today's private markets landscape, and why mid-sized firms are now exploring mergers, partnerships, and non-control capital as tools for growth and survival.
They also discuss:
* The evolution from boutique managers to full-service private markets platforms
* How public listings, insurance capital, and platform M\&A changed the industry
* What makes a manager “investable” and how to build enterprise value
* Why strategic alignment, fund structure, and internal culture matter more than ever
* The growing role of private wealth distribution and how RIAs are reshaping access
* Tactical advice for GPs considering stake sales, mergers, or succession plans
* How Vaxa Partners is helping clients navigate critical inflection points
This episode is a masterclass in private markets strategy from one of the most trusted voices in the space—offering insight not just on where the industry has been, but where it’s going.
Links:
Växa Partners - https://vaxa.partners/
Ted on LinkedIn - https://www.linkedin.com/in/tedgooden/
Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/
Juniper Square - https://www.junipersquare.com/
Topics:
(00:00:00) - Intro
(00:02:20) - Ted’s background and career
(00:04:04) - Vaxa Partners
(00:10:14) - What are you seeing in private markets in today’s environment?
(00:18:58) - Consolidation in the industry
(00:29:14) - How firms can position themselves for a successful merger
(00:44:12) - Distribution as a strategic lever for merging firms
(00:49:22) - How does Private Wealth fit into the future of private markets
