The Distribution by Juniper Square

In this episode of The Distribution, host Brandon Sedloff sits down with Jason Ment, President and Co-Chief Operating Officer of StepStone Group, to explore the scale and complexity of operational leadership inside one of the world's most dynamic private markets investment platforms. Jason shares how he transitioned from General Counsel into firm wide operations, and how StepStone has grown from 35 people to more than 1,100 globally while maintaining a culture of accountability, trust, and execution. They unpack what operational alpha means at the portfolio level, how StepStone approaches customized client solutions, and why transparency and leadership development are central to building a durable investment business.

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.

Join me as I sit down with Chris Brimsek, Managing Partner at CAB Advisory and we discuss why the details matter around operational alpha. Chris is the Managing Partner at CAB Advisory and former Chief Operating Officer, Global Infrastructure Platform @ Carlyle. Chris works across private markets GP's and actionable insights for GP's in a tough fundraising and operating environment. This will be a free flowing conversation and we will open it up to audience Q&A.

In this episode of The Distribution, host Brandon Sedloff sits down with Jay Maher, Global Chief Operating Officer at H.I.G. Capital, to explore what it takes to build scalable operational infrastructure inside one of the world’s leading middle-market private equity firms. With a career spanning over 30 years in fund administration, technology, and operational leadership, Jay brings a unique perspective on institutional growth, data strategy, and the evolving role of the COO. They discuss Jay’s journey from cutting NAVs on paper at Merrill Lynch to co-founding and selling multiple fund services businesses, and how that experience informs his approach to streamlining systems, breaking down silos, and preparing H.I.G. for its next phase of growth. This episode is a behind-the-scenes look at operational alpha in action, offering a rare window into how scaled private equity firms are building durable foundations for long-term growth.

In this episode of The Distribution, host Brandon Sedloff sits down with Charles Hudson, Managing Partner and Founder at Precursor Ventures, to explore the challenges and opportunities of pre-seed investing. Charles shares how his early career at In-Q-Tel and Uncork Capital shaped his thesis for launching Precursor—a fund intentionally designed to write small checks to first-time founders before there’s traction, product, or even a network. They discuss the philosophy behind backing “strangers with data,” how to identify founders with the resilience and creativity to thrive at the zero-to-one stage, and what’s often misunderstood about investing in companies before traditional signals exist. Charles also reflects on why staying small by design is key to Precursor’s success and how firm culture, founder psychology, and capital strategy all intertwine in early-stage venture.

In this episode of The Distribution, host Brandon Sedloff speaks with Sarah Schwarzschild, COO of Mavik Capital, to explore what operational alpha looks like inside a high-performing real estate investment firm. With experience spanning investment banking, secondaries, and platform leadership, Sarah brings a unique lens to how strategy, culture, and execution intersect in private markets. They dive into how Mavik has structured itself for speed, collaboration, and long-term performance—from flat organizational design to real-time data feedback loops. Sarah shares her approach to building systems that reduce friction, unlock better decision-making, and ensure every team member—from assistants to senior investors—has direct alignment through carried interest.

In this episode of The Distribution, host Brandon Sedloff welcomes back Sabina Reeves FRICS FRSA , Chief Economist and Head of Insights at CBRE Investment Management, for a global tour of the forces reshaping capital flows, investment strategy, and real estate allocation in 2025. Sabina breaks down how macroeconomic shocks, geopolitical realignment, and inflationary pressures are driving a new phase of regional divergence. She explains how allocators are recalibrating their assumptions across the U.S., Europe, and Asia-Pacific, and why fundamentals alone are no longer enough to make allocation decisions. The conversation spans real estate, infrastructure, and private markets—with an emphasis on nuance, context, and long-term thinking.

In this episode of The Distribution, host Brandon Sedloff sits down with Maria Surina, Managing Director in the Real Assets group at Cambridge Associates, for a wide-ranging conversation on how real estate and broader real assets are evolving within institutional and private wealth portfolios. Maria shares her unique career journey—from growing up in Russia and studying real estate finance in Canada, to working across appraisals, operating companies, endowments, and now advising clients at Cambridge Associates. She discusses how early lessons in valuation continue to shape her view of investment opportunities today, and how Cambridge helps clients build customized real assets portfolios that balance growth, diversification, and income.

Join the conversation as Brandon Sedloff and Jennifer Stevens discuss the evolving role of GP Stakes investing in CRE and what it means for managers and allocators.

The best investors don’t chase deals—they follow themes. On the latest episode of The Distribution by Juniper Square, I sit down with Christopher Zook, Founder & CIO of CAZ Investments to talk about how his firm has quietly become one of the top 120 private equity allocators globally—writing billion-dollar checks by identifying market themes before they go mainstream. 4 Major Investment Themes Driving Private Markets Right Now: 🚀 The Growth of Private Assets: More capital is moving into alternatives—401(k)s are next. Owning GP stakes means earning management fees instead of paying them. 🏈 Consumer Behavior Shifts: The rise of cord-cutting means live sports is more valuable than ever—so CAZ invests in the teams themselves. 🛠️ Disruptive Tech: Early bets on AI, defense tech, and 3D-printed homes are reshaping industries. ⚡ Energy Evolution: From traditional energy to renewables, the demand for power is surging—and CAZ is positioned across the spectrum. Actionable Takeaways for Investors: ✅ Follow the Themes, Not the Noise: Don’t just look for deals—identify why capital is moving in a certain direction. ✅ Seek Asymmetric Risk/Reward: CAZ focuses on downside protection first—if they can live with the worst case, the upside takes care of itself. ✅ Be Selective: They evaluate 1,500 deals a year and only act on a handful. Investors should adopt the same discipline. ✅ Think Like an Owner: Whether it’s sports teams or GP stakes, invest where capital is sticky and aligned.