Axxes Capital Forms Direct Investing Business for Advisors

Axxes Capital launched Axxes Direct, a new platform that offers advisors access to co-investment opportunities in private assets and hired private equity and family office veteran Ari Bass as president to lead the effort.

Bass and his team will work closely to source and structure direct private equity investments and co-investments, as well as opportunities in continuation vehicles anchored by private equity firms.

“The private equity secondaries market has surpassed $100 billion over the past two years. With institutional investors rebalancing and GPs retaining prime assets, we predict even higher volumes next year,” said Axxes Capital Chairman and CEO Joseph DaGrosa, Jr., who also serves as chairman of private equity firm DaGrosa Capital Partners.

Prior to Axxes, he co-founded and served as co-chairman in 2019 of Quinn Residences, a $900 million REIT focused on single family home rentals.

The platform aims to raise between $50 million and $100 million to back each continuation vehicle, according to the Wall Street Journal. The minimum investment is $100,000 and all investments must be made through a financial advisor.

These are investments that traditionally have been offered exclusively to large institutional investors and ultra-high-net-worth family offices.

“Continuation funds are an important management tool for private equity firms, benefiting a broad array of investors and capital markets participants. With almost $3 trillion in unmonetized private equity assets, the opportunity to invest alongside some of the largest and most sophisticated managers has never been greater,” said Bass.

Most recently, Bass co-founded Los Angeles private equity and multi-family office investment firm BP Partners Management. He also served as investment committee chair and managing director for private equity firm Lotus Domaine Management, LLC and its Lotus Domaine Fund III, LP.

Pictured: Ari Bass