The AAA Storage Podcast

In this episode, we explore the evolving landscape of fund of funds investing with Branden Claisse from Tribevest, alongside Paul Bennett of AAA Storage. Discover how this innovative model creates new opportunities for both investors and fund managers, making private market access more attainable and profitable. Branden shares how Tribevest streamlines the fund management process and highlights the powerful economic and community-building benefits of this approach. Whether you’re an experienced investor or curious about capital raising, this conversation uncovers practical insights you won’t want to miss.

We believe good investing starts with a conversation, so if today's episode got you thinking about your investment strategy, reach out to us through our Contact Form and let's start building together: https://www.aaastorageinvestments.com/contact

Found out more about Tribevest: https://www.tribevest.com/

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Chapters
(00:00) Introducing Fund of Funds Investing
(02:45) How Tribevest Enables Turnkey Fund of Funds
(06:45) Economic Opportunity for Fund Managers
(09:25) Broadening Access and Investor Benefits
(15:45) Who Makes a Good Fund Manager
(19:45) Fund Economics and Investor Returns
(23:55) Roles of Sponsor, Fund Manager, and TribeVest
(29:20) Support, Marketing, and Getting Started

#PrivateEquityRealEstate #AlternativeInvestments #RealEstateInvesting #AccreditedInvestor #InvestorInsights  #AAAStorageInvestments

Creators and Guests

Host
Paul Bennett
Managing Director at AAA Storage

What is The AAA Storage Podcast?

Investing in self storage gives you the fundamentals and growth you need to grow your portfolio. But skip the opportunities from golf buddies and gurus—invest in a real track record. Started by John Muhich in 1993, AAA Storage has delivered 19% IRR across 90 deals, totaling $450M in exits. Listen to our expert insights on investing from the AAA Storage team. See more at aaastorageinvestments.com.

Welcome to the AAA storage podcast,
your integrated real estate and

development partner, exploring all
things, self storage investing to

bring you diversified success.

Let's dive in.

Brandon Giella: Welcome back to another
episode of the AAA Storage Podcast.

I have with me as always,
the inimitable, Paul Bennett.

Welcome back, and we have
Brandon representing Tribe Vests.

Welcome Brandon.

Thanks for joining.

Branden From Tribevest:
Hey, thanks for having me.

Excited to be here.

Brandon Giella: Awesome.

are gonna talk today about funds of
funds, which is a new-ish concept,

if I can say that, but a way to.

Uh, invest in self storage and other
kind of asset classes in a new kind of

model, the way that is very relational
based and is, uh, focused on, um,

allocating capital and aggregating
capital in really exciting ways.

So I am gonna turn it over to Paul who's
gonna be interviewing Brandon, and we'll

get into all the details from here.

And we have some exciting stuff coming.

After this episode to talk
about this model in a lot more

detail in a webinar upcoming.

So as always, please go to
aaa storage investments.com

and you'll find lots of information there.

without further ado, Paul, take us away.

Paul Bennett: Thanks Brandon, man,
I am, I'm excited about today.

We've got a pair of Brandons, one with
an e and one with an ON, but hopefully

with that won't get confusing for folks.

But I, I'm excited for several reasons.

One, I'm really pleased
to have Brandon with us.

Um, they are a, a, have,
have become a very important

partner for us at AAA storage.

Uh, and I'm also excited because this
podcast really marks the official launch

of AAA Storage's Fund of Funds program.

Um, you may be asking yourself,
what is fund to funds?

Uh, Brandon's gonna address that here.

We're gonna do that right out of the
gate, but, um, I tell people sort of

tug in cheek, but actually sort of mean
it is that we're really, really good.

Um, in the development and
management of real estate assets

is what we've done for 30 years.

Where we're not so good
is raising capital.

for 30 years we had a group of about
300, um, you know, friends and family

and a network of folks that evolved,
which is where all our capital came from.

So, when we launched Fund one, we,
we've really had to learn how to go out

into the market and, and, and interact
with investors and, and bring in.

Uh, new capital and the Fund to
Funds program, we think is gonna

be a real game changer for us in
our ability to, to raise capital.

So, um, anyway, and we'll talk a little
bit more about what our program looks

like, uh, at the end of the podcast.

But, uh, Brandon, I wanna kick things off.

First of all, super glad you're here.

Um, tell us a little bit about
Trivest and then help everybody

understand what a fund of

funds is and how it works.

Branden From Tribevest:
Yeah, no thanks Paul.

And it's such a pleasure to work with you.

Excited to be partnering with
you and to be, you know, kicking

off your fund to fund program.

You're, you've just, you know, we're
just getting started and you've

been an awesome partner to date.

So just, just super excited about it.

Um, no, great question.

So, you know, at, at the high level.

What Trivest is you know, we're, we're
banking and back office infrastructure.

We're, we're a startup, right?

So we're a platform.

Uh, we launched in 2019, but we're the
banking and back office infrastructure

for the private investing world.

You know, that's our,
that's our high level.

Like I said, we launched in 2019 and about
two years ago we really started focusing

on a turnkey fund to fund offering.

I know that's gonna be a big topic today.

Um.

I can get into that now.

I think just at, at a high level.

You know, it's funny you were asking
about this, you know, a new concept.

The fund to fund concept is not new.

Um, it's been around for years.

The challenge has been that
it's been super expensive.

Um, there's a lot of work
entailed, uh, and it required,

you know, going out and finding.

Your own attorney and your own banking
partner and all sorts of things that

we've just made 10 X easier and 10 x
less expensive to execute on, which

really has opened this up to a lot of
more folks to raise capital for great

deals like you have at aaa Storage.

Paul Bennett: Yep.

Super.

So, uh, what you're, what you're
saying, Brandon, is that somebody

listening to this podcast who,
um, has an interest in investing.

In AAA Storage Growth Fund two, but
also a network of other people who

might be interested in investing, can
form their own fund with Trivest help

and back office support and raise
capital, and then invest it as a, uh,

lp, uh, in AAA Storage Growth Fund two.

Is that, is that, that a, a good,
simple explanation of, of how the

Fund to Funds concept
works in our partnership?

Branden From Tribevest:
Yeah, a hundred percent.

And, and thank you Paul for
kind of rounding out my answer.

You're, you're right.

Yeah.

No, it's a hundred percent right.

That is the opportunity, right?

So for someone within your network at AAA
Storage to bring their investor network

into your deal in a compliant way and.

We're, you know, we're gonna be
able to, you know, what is the

Fund to fund structure, right?

So this is a legal structure, right?

So we're gonna be creating
the entity for them of an LLC.

We're gonna be using that entity and
that EIN to open a business bank account.

We're gonna create their
offering documents for them.

So they're gonna have their own
set of offering documents for their

investors, and then ultimately they're,
you know, aggregating that capital.

Uh, within this fund to fund structure
and then sending a wire onto you.

And then, then ultimately,
you're right, they're an lp,

uh, in, in, in your structure.

And it's, again, you know,
why this was challenging to

date is that it was expensive.

So it might've cost, you
know, $25,000 set up.

And then you had to do all of those things
that I just, uh, detailed on your own.

And because of that, unless you
were raising, you know, four

or five plus million dollars,
it just didn't make sense.

Um, and now with Try Best, we've, you
know, made it so streamlined and so

affordable that if you're raising, you
know, a million dollars or more, um, you

know, this is a very viable structure.

And again, you can compliantly,
compensate yourself within this structure.

And, um, it becomes a nice, nice
opportunity for some of the more, you

know, savvy LPs or people that are
already raising capital out there.

Paul Bennett: Yeah, and I'll
give everybody a quick example.

Um, we have an investor, uh, that came
to us, um, with a, a real interest

in investing in growth fund two.

Um, and in the conversation with him,
he started to mention that he had

several other friends, close associates
that he thought would be really

interested, um, in, invested in, in.

Growth fund two.

And so my response to him was,
well, we, we love the referral, but

let me give you a different idea.

We've partnered with Trivest.

You could become your own fund manager
for a fund of funds vehicle, raise the

capital from your network of folks in your
fund that then in turn invest in our fund.

And instead of getting, you know,
maybe a steak dinner outta me because

you referred three or four investors.

You have a chance if you raise a million
dollars in our program to have a, uh,

economic benefit of about $126,000.

So for, for partnering with Trivest
and going out and raising capital from

your network that you pull together
and invest in Growth Fund two with us.

The fund manager has a real.

Uh, opportunity, um, to, to get
compensated for, for that effort, which

obviously, like I said, sort of tongue
in cheek, but I'd be happy to buy

somebody a steak dinner for referring.

And we have, uh, I'm thankful we have
lots of people that get referred to us

by other investors, but, um, and not
everybody wants to or should be a fund

manager in a fund to
funds structure, but for

Branden From Tribevest: Sure.

Paul Bennett: that do, and one of
the things I have been blown away,

you were kind enough to invite
me to an event in New York City.

Uh, that Lone Star Capital put on,

Branden From Tribevest: Yeah, it's pretty.

Paul Bennett: no idea the number
of people who had gotten involved

in the fund of funds concept.

I met an optometrist.

Who had sold his practice and
was an active passive investor

who now is sort of semi-retired.

But his, um, you know, his focus
is he does three or four deals

with lead sponsors like AAA a year.

So he is raising three or $4
million a year, uh, and, and

building his own net worth.

By helping introduce investors we would've
never otherwise met to the opportunity

to partner with us in Growth Fund two.

So it's just super exciting
concept and um, and, and we're

super excited to get involved.

I've said that about 10
times, but it's the truth.

Another question for you.

What's the biggest misconception

Branden From Tribevest: For sure.

And Paul, I, I want to, I, I want to
like honestly take a quick step back.

You mentioned like two really important
things when you were just talking.

Now I want to step back if that's okay.

And you mentioned the optometrist, right?

That has gone from.

You know, dabbling in this to scaling
a business, and, and I think that's a

really important opportunity, right?

I, I think there's the, the singular
opportunity of investing in a

deal, bringing your network in and,
you know, two or three x-ing the

capital that you might make as a,
you know, versus a, just a, an lp.

Um, but we, we really
do make it so simple.

That you can, and not, you can't, like we
have multiple people like that optometrist

that are stacking 3, 4, 5 more than
that deals a year and they've pivoted

to either this is a, you know, a a WW
two adjacent or a W2 alternative, right?

So I, I think there's, there's
like an opportunity, like kind of

beyond just kind of the single deal
that I think is really important.

Um, so just want to point that out.

And I, I think there's a lot of value.

Like, I think there's like a lot of value.

I, I think there's beyond, you know,
personally what you can, you know,

accomplish with this structure.

There's also a lot of value that you're
bringing to your investor network,

your, your friends, your colleagues,
that people don't have access, right?

There's just not a lot of
access out there in the private

markets, and it's really under.

Estimated right there, there, just
if you, you know, it used to be.

And, and the, the internet generally
speaking, has done a really

nice job of democratizing things
and kind of opening things up.

But at the same time?

I mean, there are, I mean, estimated
10 to $20 million, 10 to 20 million

accredited investors out there.

That are not, you know, investing in the
private markets, you know, and there's

only maybe a 10, 15% that are investing.

And so it's a really nice opportunity
for these folks that have experience

investing, uh, in private investments
to bridge that gap and bring this,

I mean, that's, you know, there's an
altruistic element here where you're

bringing this opportunity to your network.

They just, they just don't know about it.

You know?

It's, it is just a really big opportunity.

Paul Bennett: Uh, that
is, that is so true.

Um, and, and you're exactly right.

That was one of my questions.

So that's a, a great answer, which
is what do investors get out of it?

And it's, it's one of the biggest
win-wins I've seen in a long time in our

industry, which is for us as a sponsor.

It allows us to have investors
that we would've never met.

Right?

I mean, these are people, uh, you
know, we might know the fund manager

obviously 'cause we've partnered with
them, but, uh, we don't know his network.

And for the investors, it's exposure to
opportunities that they would've never

had otherwise had their associate contact
friend not, not brought it, um, to them.

So I, I think it's A-A-A-A-A huge.

Win for both sides of the equation.

And I, I'm gonna, I
mentioned the optomest.

I gotta tell you, I had been blown away.

I, I was introduced to a group
when we were in New York, uh,

that I could tell right away.

It was three very sharp women.

And, um, they were fund managers
or active fund managers.

I, think they've worked
with Trivest before.

Um, but I had a call with
them maybe two weeks later.

had no idea.

They're all three physicians,
full-time physicians, obviously,

they're very intelligent.

Number two, they're experienced passive
investors or or private market investors.

And three, they have a lot of
credibility in a big network of folks.

And they have been super successful
partnering with lead sponsors and

platforms like Trivest to raise capital.

in that win-win scenario where the
investors are winning because they're

getting access to an opportunity they
would've never seen, the sponsors are

winning because we're getting access
to capital we, we would've never seen.

So, um, it's, it's just been
really a fascinating learning

experience, uh, for me.

So,

Branden From Tribevest: No, and
you, you just did a great job.

You kind of did My work for me
is, you know, the question of, you

know, you know what makes A good,
you know, fund to fund manager.

Right.

And, and you describe it like, it, it's,
and these are people that still have

meaningful, you know, full-time jobs.

Often some are kind of transitioning
into, uh, you know, retirement or looking

for kind of a post W2 or adjacent W2.

But they are, they, they have that
credibility in their community.

They're oftentimes physicians or we've
seen a lot of like successful, um.

Engineers, software developers.

Um, there, there's a lot of worlds
where people are smart, determined,

driven, uh, they have a trust within
their, uh, established, uh, network

of friends and, and community.

And they're seen as the person
like, gosh, you know, Jim and

Jenny, they always are investing
in these real estate opportunities.

I just don't know anything about
it, and I'd love to learn more.

Like there's usually a general
feeling about that in their community.

And once they're given the
opportunity and a framework to

work within, um, it's, it's huge.

They can really take it and run with it.

um.

whereas before it just felt like, yeah,
I can, like you said, I can refer people,

um, and I'd love to be generous with that,
but there, there wasn't really a framework

to work within to really expand upon that.

Brandon Giella: I,

Paul Bennett: Yeah.

Brandon Giella: I wanna go one, one
step further on this thread, if I may.

Uh, for maybe some listeners that are
out there that are thinking, well, I'm

not a physician, or I'm not, you know,
maybe later in my career I may not have

this network, but I, I do, I will one
day, you know, so let's, I'm, I'm 35.

And let's say there's folks listening
that are in their mid thirties,

they're building a business, or
they're earlier in their careers.

At what point for somebody like
that, would it start to make a lot of

sense to really consider this as a.

You know, a serious way to, to pursue
either their own investment interests or,

you know, the way that they want to think
about their, um, their overall portfolio

for their family as they continue to
grow and, and develop their careers.

Branden From Tribevest:
Yeah, great question Brandon.

I, I, I think there's,
there's probably two answers.

I think one is.

It, it definitely
credibility matters, right?

So I think being an
experienced, at least lp, right?

So you, you've inve or an
investor, so you've invested in,

in, you know, multiple deals.

Maybe some have, you
know, come full cycle.

that's that's usually important.

Um, so you can speak to, you know,
the experience of being an investor.

I think that is important, right?

So I, I think that's one side of this.

And so I, I think.

And also opens it up.

If you are a savvy investor out there,
you've invested and your kind of friends

see you as someone that has, has, you
know, been successful in the private

markets, you're a great candidate.

I think on the other side, and we've
definitely seen success here as well,

is, and we have actually a partner
that has, uh, a lead sponsor partner,

like similar AAA storage, but they've
exclusively focused on skillset, right?

And, and what I mean by that is.

When they're looking at, um, capital
raisers people to raise capital for their

deals via this fund to fund structure,
um, they are looking for people that

are sales and marketing experts, right?

And 'cause that's where
they had success themselves.

They found that they had some,
uh, adjacent, uh, people in their

network that could raise capital,
um, by just understanding how do you

kind of sell a network within your
community on social media, on LinkedIn.

Uh, et cetera.

And they had a lot of
success, success there.

And so they actually hired someone
to actually come in and build out,

you know, uh, a network of, uh, fund
managers that were, again, they,

they were coming in with a skillset
versus, um, that, that background

in lots of, you know, uh, private.

Uh, real estate investing.

So, um, there's kind of two, two
different paths I think, and,

you know, two different paths.

Brandon Giella: Yeah.

Cool.

So.

Paul Bennett: one of the great
things about the concept for.

Independent capital aggregators
or fund managers, those terms

are interchangeable, right?

Um, is that you don't have
to make a career of this.

You don't have to do 10 deals a year.

Um, you know, you can selectively, when
you see something that you want to invest

in, then go raise capital alongside your
capital and a fund of funds and do it.

Do one a year, one every two
years, one every three years, or.

I, I think probably a lot of people
I've met who are, who are really

focused and, and driving a really
a business out of this are people

that started just like that and then
sort of really loved it, found out

they were good at it, and ultimately
evolved into more of a true business.

But it doesn't have to be
a full-time profession.

Um, it, you know, if you're,
if you've got the right sort of

background, experience and network.

Anybody can do this and they can do
it at whatever level they want to.

So, uh, and I I wanna
point out two things.

Um, in our Fund to Funds program, if a
fund manager invested a hundred thousand

dollars of his own capital in his fund
to funds alongside people in his network,

our deal is, is geared to pro to provide
somewhere between two and a half and

three and a half times the capital
that's invested in Growth Fund two.

As a fund manager, the return for
that fund manager when you add the

compensation that they can earn as a
fund manager, takes that number from

two and a half to almost three point
seven five times their investment.

Uh, and if we hit the three times
number, takes 'em north of four times

their investment, so it can dramatically
increase their return from their

investment in, in growth fund two.

and and so there's certainly.

We think this is a lot of fun, but there's
also an economic motivation to do it.

But that begs the question,
Brandon, are the investors

'cause that that money that the

fund manager's earning has to
come from somewhere, right?

It doesn't

Branden From Tribevest: Yeah.

Paul Bennett: get
manufactured outta thin air.

Are the fund to fund
investors at a disadvantage?

Do they get lower returns because
some of their return is being

redirected to the fund manager?

Or, uh, how, how does that
piece of this puzzle work?

'cause I think that's.

Imp, it was important to us to understand
and, and I think will be important to

our listeners.

Branden From Tribevest: Yeah, no,
it's a critical question, right?

And I think that's what a lot of, uh,
folks assume, and it comes back to, you

know, why do we partner with AAA story?

You know, at this lead sponsor level, um,
why, why is it so important to do that?

And part of it is that we want to
figure some of these things out upfront.

And one of them that's the
most critical is what we call

the fund to fund economics.

Right?

And, and what it starts with is that
as a fund manager for writing a larger,

let's say, million dollar check.

Ultimately within, you know, the fund
to fund structure and, and bringing

in your network of investors that that
million dollar check is gonna garner

preferred terms from AAA storage, right?

And so that's the starting point.

So you're gonna get those preferred
terms and what we help, uh, aaa and

then ultimately your, uh, capital
aggregators determine is, you know, what

do the fund to fund economics look like?

What I mean by that is how do you,
what they're gonna do is they're

gonna take that preferred term for
writing a million dollar check.

They're gonna go ahead and offer, uh,
similar if not better terms to their

investors within their fund to fund.

They're also gonna charge appropriate
fees for managing that fund and, the

delta between, you know, what their.

Receiving for that larger check.

and what they're gonna offer is where
they're gonna find their compensation.

So there's two, you know,
I think huge parts to this.

And again, why do we do this upfront?

Because we check all these numbers
before they, before they come in, right?

We check all this stuff out.

So they show up and know that
they're gonna get a great

deal based on the projections.

Um, and so they're gonna know that,
Hey, my investors are gonna get a

great deal again, similar or better if
they went than if they went to direct.

And I'm also gonna be compensated in this
way based on the projections of the deal.

So we determine all that stuff upfront.

'cause we know that's so critical.

What are my investors gonna get
and what's, what's in it for me?

Which is completely fair.

Paul Bennett: Yeah.

Yeah.

And, and, and I think we started
off our conversation and in our

program, I, I'll just put it this way.

In our program, the fund of fund investors
are at absolute parity with anybody

that invested directly in the fund.

They're at zero disadvantage
because what we've done is discount

management fees and backend carried
interest, to the fund to fund.

Because of the million dollar
check, that they're able to write

'cause they aggregate capital.

Um, and that creates the spread
that creates the compensation

for the fund manager.

But we started off, we, if you
remember, I worked with Lee and your,

your CFO and, and the team internally.

And the, the point we started
from is we have to be at.

There, there can be no zero
disadvantage to the fund to fund

investors from a return standpoint.

So, um, and that was just, I, I'm sure
others may approach it differently, but

that's how we approached it and, and we
think that's, um, really, really critical.

Um, let's, let's talk for a minute.

I don't, I don't even
know where we are, Tom.

I see where we are time wise.

We got a few more minutes anyway.

Um.

Run through the roles for each of
the three major parties in a fund to

fund PON in a fund to fund structure.

AAA storage's role is the, is the
lead sponsor, the fund manager's

role, and then Trivest role.

Just kind of help everybody
understand what the core

focus, you don't have to go way

detail, but the core focus
of those three roles are.

Branden From Tribevest:
No, it's a great question.

Great question.

So, and again, back to, you know, why do
we, why was our go to market strategy?

I think so important is, again,
we partner at the lead sponsor

level with folks like AAA storage.

And the reason why is, you know, you are
one, you're, you're bringing the deal.

You know that, that, that's
the linchpin of all this.

We have to have, you know, an
active deal for all this to work.

And we have to set up things
like the fund to fund economics.

So you're bringing the deal, um, you're
obviously the operator in that deal.

You're working with us to set up
those fund to fund economics and set

up the, uh, fund manager for success.

Um, I'd say the.

Other aspects on an ongoing basis
that you're gonna work with them on.

And so, and I think it's maybe important
to just kind of chime in a little

bit on the, on the structure, right?

So this SPV entity, this fund to
fund that we're creating is coming

in as an LP on your cap table, right?

So they're ultimately
a single uh, line item.

They're an lp, even though they're
an entity of 10, 15 plus investors.

And they're gonna be receiving a
single distribution and a single

K one back from you, right?

So that, that's part of it, right?

So they're, you're investing
in your deal critical.

You're providing those distributions,
you're providing K ones, and I'd say

the final piece that you're providing
is also kind of ongoing communications.

So you'll.

You'll be working with them to,
um, you know, figure out how they

want to relay those communications
to, uh, their investors.

And it might be, you know, they're
rebranding what you provide to

them, um, or just taking off
the shelf what you provide and,

and, and sending that through.

But those are really the,
the, the key elements there.

but again, without the deal,
you know, none of this happens.

So that's, that's a huge part on
the, on the fund manager side.

Like we said, the what we've, what
we've tried to do is make this so

simple, uh, and take all of this
back office, uh, these back office

pieces, um, off the fund manager's
plate so that they can really focus

on finding great deals like yours and.

Uh, nurturing their investor network
and, and, and that's where we want

them spending 85, 90% of their time.

So that's what it's really about,
you know, finding that great deal

and then working with your investors.

So they're working to
get soft commitments.

Right.

Really, that's really where they're coming
in, is to, to explain the deal to them

working with you to pitch that deal.

And then get soft commitments.

And then at that point, that's
really where Trivest takes over.

So at the fund to fund structure level,
we're creating an entity on their behalf.

Uh, we're, uh, opening a
business bank account for them.

We're creating their offering documents,
and then we have an account manager

that's assigned to them so that account
manager's gonna be helping them.

So they're gonna obviously be
communicating with their network of, of

folks that have gotten soft commitments,
but they're, you know, ultimately our

account manager's gonna reach out to
their investors with offering documents,

with wiring instruction so they can wire
capital into the deal and really helping

them to facilitate, um, that process.

And then on the back end, you know,
once they're invested, we're sending

a wire onto you and they're gonna
be receiving a distribution back.

Uh, from you and we're gonna
be helping to break that up.

We're gonna create a cap table for them so
they can push that out to their investors.

And then we're also gonna be
breaking up the K ones for their

individual investors as well.

So all of the heavy lift that kind
of made this, um, back in the day.

Um.

Uh, challenging.

We're, we're really taking off their
plate, so they're focused again.

Find a great deal, nurture
your net if you can.

If you have the investor network to
bring the capital, we're gonna really

handle the rest that, that's usually,
you know, the, the, the deal there.

And then, Yeah.

I think, again, I think I kind of
outlet outlined kind of what, what

Trivest provides, um, there as well.

Paul Bennett: Yeah.

No, it, it, I I think it's, uh,
we don't need to get into details.

We're gonna run outta
time here in a second.

But yeah, it's, it, the things
that I, most people listen to

this podcast wouldn't think about.

I, I get that, but when we send
out a distribution to that entity.

It then has to be redistributed
to all the investors individually

having the accounting done for you.

So the cap tables and having you
at Trivest handle the, not only the

calculations but the actual wire transfers
out to the investors to get them their

distribution and then at the end of each
year doing the, the, the tax return for

the fund of funds entity based on the
K one we issue to them as an investor

and re And being able to reissue K ones.

Um, to all of the fund to fund investors.

Those are not small things.

That's, um, those are, those are things
that without a platform like Trives,

the average person, some of the people
we've talked about, the optometrist,

the doctor, uh, the doctors that have,
that have really jumped on this concept

wouldn't touch it with a 10 foot

pole.

'cause they don't have the
time to mess with that.

So, um,

Brandon Giella: And as
a solid C student in my

Paul Bennett: got one last question
and we'll close this up, but the only

other thing I would point out is that
you are providing all the back office

support and all of the, the things
that are so difficult in our program.

One of the things that we're committed
to doing, and not every sponsor, every

sponsor takes different approach, but we
want to be very involved in supporting.

Our fund managers, we're gonna provide
them with branded marketing material,

um, that they can, that, that will
be branded to whatever sort of brand

they want to use in the marketplace.

I fully intend to support them
by doing live webinars and

calls with their investors.

Um, we're not just gonna throw 'em
out there and say, let us know when

you found your million dollars.

We want to be very
involved and supportive.

I, I know there are probably fund managers
out there that have done this long enough

that they don't need that and may not
want it, but particularly for people that

this is the first time, or they're very
early in, in the, their evolution as a

fund manager and a fund to funds concept,
we wanna make sure they're successful.

Um, and, uh, so I, they're,
they're gonna get support from

both sides is all I'm really saying.

Um,

Branden From Tribevest: A hundred.

Paul Bennett: question, uh, we've
covered a lot, um, but any, any, one

last thing you want people to know
about the fund to fund concept or

Tribevest or, um, who should do this?

Who, who should consider, you
know, becoming a fund manager?

Any, any

last sort of information for folks?

Branden From Tribevest: Yeah, I, I think
just, you know, trying to kind of look

at all the things we talked about today.

I, I think that.

I think appreciating that a lot of this
work has been done for you upfront.

Again, um, I think our work with Paul
and the AAA storage team has, you know,

it's been over the past six plus weeks,
um, to get all of this to a place where

it's, it's, it's truly seamless for you.

And so I'd say if you are.

Uh, either someone that's raised
capital in the past and, and are savvy.

Again, this is gonna be a, a better,
more, uh, streamlined experience than

probably you've experienced in the past
if you've raised capital, but maybe

in a more casual, less formal way.

Again, this is gonna really
help to legitimize things and.

Help you, uh, you know, stay compliant,
um, help you kind of legitimize, uh,

the, the more kind of professional
business, uh, aspect of capital

raising, if that's kind of your goal.

And if this is new to you, um, you
know, I think just looking at, like

we said, are you someone that you
know has, um, a network of, you know,

professionals, high-net-worth individuals
based on kind of where you sit.

Uh, in your, in your professional
life, um, just in kind of your

personal network for various reasons.

And if that feels like you, I mean, this
is something that we are, we're genuinely

taking the, the heavy lift off your plate.

And so if you feel like you have that
network, you've already got a great

opportunity, uh, in AAA storage,
um, that this is something you, you

might want to explore because it,
it's really a, a huge opportunity.

Um, and, and, and, and
really easy entry point.

Paul Bennett: Yeah, and there's
certainly a lot more, you,

you, you mentioned compliance.

I think that's a critical aspect of this.

We're not gonna get into it any further.

But, but certainly if you have
interest, would love to have that

discussion and how Trivest and AAA
have thought through how we make sure

this is compliant with SEC regulations
and, um, and is done the right way.

But you, you ended at a great point
because as we close out, I want to

encourage you, if you're interested
in what you heard today, if you're

interested in being a capital
aggregator partner with AAA storage,

um, and forming your own fund.

Um, go to our website address, which
is aaa storage investments.com/apply-fo

f.

Um, there'll be a, a little.

there for you to, uh, an
initial questionnaire.

Uh, and the next step after that
is that we'll schedule a call.

Uh, I'll schedule a call personally
with you and we'll just get a chance

to know each other a little bit and
talk about the Fund to Funds concept.

But we are super excited
about the program.

As I've already said.

We think we've structured it to make
the compensation very attractive.

We're committed to supporting,
uh, the, the sales and marketing

effort of our fund to fund managers.

And we've got a great.

You know, back office platform partner
and Trivest that really takes all

the heavy lifting off of you and
lets you just focus on nurturing

those relationships and, and bringing
capital, uh, to the, uh, to the table.

So if you've heard something that's
interesting, you just wanna learn more,

go to aaa storage investments.com/uh,

apply dash FOF.

FOF stands for Fund of Funds, um, and,
uh, and fill out that brief questionnaire.

And then I look forward to, uh, getting
a chance to talk to you and Brandon,

thanks a ton for being here today.

I didn't mention you and I met
because of Jim Pfeiffer, the Pound,

the founder of Passive Pockets.

It's a been an amazing journey
for us, the network of Great.

folks in the financial industry that,
um, we've developed relationships with.

You know, Jim's become a good friend
and, and he introduced us to Trivest and

you guys, and now, um, now we, we are
getting the opportunity to work together.

So I'm, I'm truly thankful for that and
thankful for everybody's time today.

We've run a few minutes long,

but Brandon, I'll head
it back over to you.

Brandon Giella: Great.

Thanks so much for this conversation.

Brandon.

Thanks for joining, and Paul,
thanks for your wisdom as always.

We will see you next time.