Aksia

Aksia

Company type	Private
Industry	Alternative investment management and advisory services
Founded	October 2006 (2006-10)
Founder	Jim Vos and five other former Credit Suisse leaders
Headquarters	New York City , United States
Area served	Institutional investors
Products	Alternative investment management and advisory services

Aksia is a U.S.-based firm specializing in alternative investment management and advisory services, headquartered in New York City. The company serves institutional investors by offering access to alternative investment opportunities and maintains significant offices in both London and Tokyo.

Background

Established in October 2006 by Jim Vos—previously the Head of the Fund of funds division at Credit Suisse—alongside five other former Credit Suisse leaders, Aksia rapidly earned a reputation for its meticulous due diligence processes.

The firm gained early prominence by warning clients about the risks associated with feeder funds linked to Madoff Investment Securities before the 2008 scandal unfolded. In a 2007 analysis, Aksia pointed out numerous warning signs, such as unverifiable performance figures and questionable audit practices. The report emphasized that Madoff’s proprietary trading activities did not sufficiently justify the reported returns and noted the discreet involvement of family members. To further investigate, Aksia hired a private investigator to scrutinize the auditing firm, uncovering doubts about its credibility.

Despite growing demand from institutional investors for alternative investment guidance, Aksia encountered difficulties retaining staff due to competitive pressures. In 2010, the company initiated legal action against two former employees and their new employer, Albourne Partners, accusing them of misappropriating confidential data and soliciting clients; this matter was resolved prior to trial.

Pursuing growth through strategic acquisitions, Aksia expanded its offerings by acquiring TorreyCove Capital Partners—a San Diego-based advisory focused on private equity and real assets—in January 2020. Later that year, in October, it also acquired Alignium LLC, a Chicago-based real estate consultancy. These transactions enhanced Aksia’s asset class expertise while mitigating potential conflicts of interest.

During the COVID-19 pandemic in April 2020, Aksia counseled clients against applying for the Paycheck Protection Program (PPP), arguing that fees earned by alternative asset managers were largely unaffected. The firm also warned that participation might harm the sector’s reputation and divert funds away from businesses with more urgent needs.

Notable cases

In October 2014, Aksia downgraded hedge fund BlueCrest Capital Management to an uninvestable status and recommended client withdrawals due to transparency concerns. This decision followed issues raised by Albourne Partners regarding insufficient disclosure related to BlueCrest's proprietary trading vehicle, BlueCrest Staff Managed Account (BSMA), and possible conflicts of interest. Subsequently, in December 2020, the U.S. Securities and Exchange Commission announced that BlueCrest agreed to pay $170 million to resolve allegations concerning inadequate disclosures and misleading omissions about shifting top traders from its flagship fund to BSMA and substituting them with an underperforming algorithm.

In October 2020, amid heightened scrutiny surrounding co-founder Leon Black’s connections to Jeffrey Epstein, Aksia recommended clients suspend new investments in Apollo Global Management. The firm advised postponing commitments until Dechert law firm completed its inquiry. The January 2021 report disclosed that Black had paid Epstein $158 million for financial advice between 2012 and 2017, which prompted Black’s resignation as Apollo CEO several months later.

In October 2023, Aksia revoked its endorsement of Brookfield Corporation’s special situations fund following the exit of two senior executives.