The move comes as asset owners increasingly demand exposure to private markets, including individual private equity and other private markets co-investment deals.
Maxwell started his career at the Post Office Superannuation Fund where he built and headed up its alternatives division.
Will booming private markets lead to success for private equity trusts
He joined Invesco in 1997 through its acquisition of LGT Asset Management and oversaw its non-US private investments there. He departed in 2006 to establish Priv-ity, through which he provides investment advice today.
CEO of Reframe Capital, Benjamin Lamping, said: "It is a privilege to work with Ray in developing the new investment proposition for Reframe Capital, which will enable us to serve both GPs and LPs with a unique range of services across the full value chain - investment, operations, product and distribution.
"Rarely does the opportunity arise to partner alongside an industry leader with such outstanding credentials, valuable network, deal access and market knowledge. We look forward to serving our clients and the wider industry through this new line of business."