Coral Gables, Fla.-based Axxes Capital has launched a new platform that offers advisors access to co-investment opportunities in private assets and hired private equity and family office veteran Ari Bass to lead the effort.
Founded just over a year ago, Axxes Capital offers advisors access to private equity co-investments, secondaries, private credit, venture capital and real estate. At the helm as CEO is Joe DaGrosa, who also serves as chairman of private equity firm DaGrosa Capital Partners in Miami. He has over three decades of investment experience across a variety of sectors ranging from sports and entertainment to aviation. 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 private equity secondaries market has surpassed $100 billion over the past two years,” said DaGrosa. “With institutional investors rebalancing and GPs retaining prime assets, we predict even higher volumes next year.”
Bass expands the firm’s offering and as president of Axxes Direct, he 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 leading private equity firms. The platform will seek to raise between $50 million and $100 million to back each continuation vehicle. The minimum investment to participate in Axxes Direct transactions is $100,000 and all investments must be done through a financial adviser. 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. “I look forward to being a part of the democratization of private equity investing by bringing opportunities to financial advisors and their clients through Axxes Direct.”
Most recently, Bass co-founded Los Angeles private equity and multi-family office investment firm BP Partners Management.