In this episode of Capital Allocators, Ted Seides interviews David Breach, President and COO of Vista Equity Partners, about Vista's strategic expansion into the private wealth channel. David discusses his background, from food sales to law, and how those experiences shaped his approach to private equity. The conversation covers Vista's growth, investment strategies in enterprise software, and the opportunities and risks presented by AI. David explains Vista's decision to tap into the wealth space, the internal changes required, and the firm's approach to product design, emphasizing a complementary role alongside generalist managers. He also addresses concerns about the impact of wealth capital on asset prices and returns, highlighting Vista's commitment to its institutional investors and disciplined growth strategy.
