Axonic Insurance, a global annuity and insurance platform and subsidiary of Axonic Capital, has secured a $210 million preferred equity investment led by LuminArx Capital Management, with participation from Deutsche Bank. The strategic capital will enable Axonic Insurance to expand its global footprint, enhance product innovation, and strengthen its technology and servicing infrastructure.
Founded in 2024, Axonic Insurance designs, distributes, issues, and manages annuity and related products for both individual and institutional clients. Its parent company, Axonic Capital, manages approximately $7 billion in assets, with a focus on structured credit, real estate debt, and equity. The new investment from LuminArx and Deutsche Bank will support Axonic Insurance’s efforts to scale distribution across retail and institutional channels, deepen its structured credit expertise, and advance its operational technology.
Deutsche Bank Securities Inc. served as the sole structuring and placement agent for the transaction on behalf of Axonic Insurance. The deal was led by Deutsche Bank’s FIG Structuring & Solutions team, which specializes in designing capital and financing transactions for global financial institutions. An affiliate of Deutsche Bank also participated in the capital raise.
LuminArx Capital Management, a global provider of capital solutions, joined Deutsche Bank in backing Axonic Insurance’s next phase of growth. Legal advisors on the transaction included Latham & Watkins for Axonic Insurance, and Willkie Farr & Gallagher LLP for Deutsche Bank and LuminArx. Debevoise & Plimpton LLP also advised LuminArx.
Axonic Insurance is led by CEO Michael Gordon and CFO Robert Painter, supported by a seasoned management team. The company operates through a network of affiliated entities across the United States, Puerto Rico, and the Cayman Islands, offering annuity and investment products to clients worldwide.
KEY QUOTES:
“Axonic Insurance manufactures and distributes competitive annuity products supported by the high-quality cash flows and differentiated return streams available in structured credit markets where Axonic has especially deep expertise. We’re grateful to LuminArx and Deutsche Bank for their partnership and shared conviction in advancing that goal as Axonic Insurance enters its next phase of disciplined, scalable growth.”
Clayton DeGiacinto, Managing Partner and Co-Chief Investment Officer, Axonic Capital
“Axonic Insurance manufactures and distributes annuities and related insurance products for consumers and institutions. Today’s transaction marks a significant milestone in the evolution of our company. In the past year, we have seen rapid growth of annuity sales, and that is a direct result of the efforts of our highly qualified, experienced, and committed team and distribution partners. We greatly appreciate LuminArx’s ability to engage rapidly and thoughtfully in support of our growth strategy. Their team understood our priorities from the outset and provided a capital solution tailored to our needs. As we enter this next stage of growth, I am grateful to have such uniquely capable capital partners, LuminArx and Deutsche Bank, who are fully aligned with our vision.”
Michael Gordon, Chief Executive Officer, Axonic Insurance
“We are excited to support Axonic Insurance in this next phase of growth as it builds on recent momentum. From our earliest conversations, the Axonic Insurance team demonstrated a clear strategic vision, a disciplined and creative approach to business development, and deep understanding of their end markets. The innovative, scalable platform Clay and Michael have built embodies the core qualities we look for when backing an insurance platform, and we look forward to partnering with them.”
Sanjeev Mordani, Partner, LuminArx Capital Management
“Axonic Insurance has significantly expanded its footprint in the FA and FIA space and achieved impressive growth in a short period of time. The experienced leadership team has managed to differentiate itself through its innovative setup and efficient operations.”
Philippe Kremer, Head of FIG Structuring & Solutions, Deutsche Bank
“We are excited to be a part of the next chapter of Axonic Insurance and are pleased to bring together two of our clients – Axonic Capital and LuminArx – in one transaction.”
Stephen Wollman, Head of North American FIC Structuring, Deutsche Bank
