For Reeve Waud, 2026 brings a personal milestone worth recognizing. The founder of Waud Capital Partners and the driving force behind Acadia Healthcare is approaching 38 years of marriage to Melissa Wheeler Waud. The couple married on August 20, 1988, at the First Church of Round Hill in Greenwich, Connecticut, in a ceremony officiated by the president of Middlebury College, Dr. Olin Robinson.
Both Reeve and Melissa graduated from Middlebury in 1985. The wedding brought together the Wheeler family of Greenwich and Verbier, Switzerland, and the Waud family of Lake Forest, Illinois. It was the beginning of a partnership that has now spanned nearly four decades and accompanied the creation of one of Chicago’s most recognized private equity firms. More about Reeve Waud.
The 1988 Wedding
The ceremony at the First Church of Round Hill was a meaningful affair. Dr. Robinson, a Baptist minister in addition to his role as Middlebury’s president, was assisted by Dr. Avery Manchester, a United Methodist minister. Melissa, the daughter of Russell Phillip and Dorothy Ann Wheeler, had attended Miss Porter’s School and worked at Bergdorf Goodman in New York City. Reeve, the son of Cornelius Byron and Corinna Roosevelt Reeve Waud, had earned his MBA from the Kellogg School of Management at Northwestern. See the New York Times style section coverage.
The wedding was reported by both the Chicago Tribune and the New York Times at the time. For the couple, it marked the start of a life that would center around family, business, and community in the Chicago area. Read about the Chicago Tribune’s wedding report.
Building Waud Capital Together
Five years after the wedding, Reeve launched Waud Capital Partners in Lake Forest with just $5,000. The firm now manages approximately $4.6 billion in assets under management with a team of nearly 70 employees. Over three decades, Waud Capital has completed upward of 480 investments in healthcare services and software & technology. More at Reeve launched Waud Capital Partners.
The firm has evolved substantially since those early days—from a deal-by-deal operation to a structured organization with research, operational, and talent recruitment capabilities. But the core philosophy of partnering with strong operators has remained unchanged since day one. Learn about the firm’s recent senior leadership promotions.
Acadia Healthcare and Community Engagement
Among the firm’s most significant achievements is the creation of Acadia Healthcare in 2005. Acadia has grown into the largest stand-alone behavioral health provider in the United States, operating a network of more than 250 locations across the country and Puerto Rico.
Beyond business, Reeve has been active in Chicago’s civic life, serving on the Northwestern Memorial HealthCare Finance Committee and the board of the Northwestern Memorial Foundation. He is also a trustee at the Art Institute of Chicago. These commitments, alongside a nearly 38-year marriage, reflect a life organized around lasting engagement. More information at the firm’s 30th anniversary milestone.
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