ABACUS FINANCE SURPASSES $1 BILLION IN DIRECT LENDING ORIGINATIONS New Hire and Three Investment Team Promotions Announced
January 7, 2016 - Abacus Finance Group, LLC, a New York-based direct lending company that provides cash-flow senior financing for private equity-sponsored, lower-middle market companies, announced today that it has originated over $1 billion in new loan commitments across 40 transactions since its launch in June of 2011. Abacus also announced three promotions and a new addition to its investment team.
“Passing the $1 billion mark was certainly an important milestone for us,” said Tim Clifford, President and CEO of Abacus, “but the best news of all was our team’s tremendous performance during the past year. In 2015, we led over $325 million of loan commitments for a mix of new and existing private equity clients. The drivers of our growth have been our exclusive focus on financing smaller buyouts and the fact that we lead virtually all of our transactions, often taking equity co-investment positions alongside the sponsors we serve. A passionate commitment to serving our clients and delivering on what we promise – the core of our Total Partnership Approach™ – has earned us a reputation as a go-to financing partner.”
“We also launched Abacus Finance's Economic Insights, a monthly one-page snapshot of the U.S. economy, monetary policy, bond, equity, and LBO middle markets. We continued to strengthen our team, which now numbers ten, adding Jonathan Choa, a Senior Associate, and we are also pleased to announce three promotions.”
The following team members have been promoted:
Sean McKeever is promoted from a Director to a Managing Director and Chief Operating Officer.
Aized Rabbani, a Senior Vice President, is promoted to a Director.
Brian Green, an Associate, is promoted to Senior Associate.
Mr. McKeever is a founding member of Abacus Finance, with more than 10 years of experience in leveraged finance. As Chief Operating Officer, he is a member of the Investment Committee and responsible for the firm’s underwriting and portfolio management activities. Previously, he was a First Vice President and founding member of Amalgamated Capital where he led the underwriting of senior debt financing. Prior to AmalCap, he was a Vice President at Churchill Financial and was a founding member of the Leveraged Finance Group at Comerica Bank. He began his career as an Analyst/Trader in the secondary securitized- and unsecuritized-mortgage debt market. Mr. McKeever earned an MS in Financial Economics, with Highest Distinction, from Boston University, and a BS in Business Administration from Babson College.
Mr. Rabbani joined Abacus in 2014 as a Senior Vice President on the investment team, responsible for originating, structuring, underwriting and executing new investments. Previously, he was an Executive Director at J.P. Morgan in the investment banking Corporate Credit group. Earlier he was a Vice President in the JPMorgan Mezzanine Capital group and an Associate in the Leveraged Finance Group at J.P. Morgan. Mr. Rabbani began his career with General Electric’s management program followed by technology roles at MicroStrategy. He earned an MBA from the Wharton School of Business at the University of Pennsylvania and a BS in Electrical Engineering with a minor in Math at Lafayette College.
Mr. Green joined Abacus Finance in 2014 as an Associate and works as part of the investment team in structuring, underwriting and executing new investments and has various portfolio monitoring and valuation duties. Previously, he was an Associate at Aterian Investment Partners. Prior to that, Mr. Green was an Associate at Wafra Partners and an Analyst at Sawaya Segalas. He began his career as a consultant at FTI Consulting in the Corporate Finance and Restructuring Group. He earned a BA in Economics, graduating cum laude, from Georgetown University.
Mr. Choa joined Abacus Finance in 2015 and is a Senior Associate and works as part of the investment team in structuring, underwriting and executing new investments. He also has various portfolio monitoring and valuation duties. Previously, he was an Associate at Bank of America Merrill Lynch in the Leveraged Finance group. Prior to that, Mr. Choa was an Associate at Jefferies Group LLC in the Leveraged Finance group. Before transitioning to the private sector, he spent six years as an Army Infantry Officer. He earned an MBA from the Harvard Business School and a BS in economics from the United States Military Academy at West Point.
About Abacus Finance Group, LLC
Abacus Finance is a leading direct lending company, focused on providing cash flow senior financing to private equity-sponsored, lower-middle market companies across a wide array of industries. Since its inception in June 2011, it has closed over $2 billion in financings. Abacus targets debt financing opportunities of up to $75 million with a typical hold size ranging from $10 million to $40 million, and finances companies with EBITDA between $3 million and $15 million. Abacus is an affiliate of New York Private Bank & Trust which was founded in 1850.
Abacus Finance is located at 335 Madison Avenue, 23rd Floor, New York, NY 10017. All inquiries and new investment opportunities should be directed to Tim Clifford at 212-850-4620 or to cliffordt@abacusfinance.com. Please visit abacusfinance.com for more information.
The Total Partnership Approach™, which is a registered trademark of Abacus Finance, LLC, brings cash-flow financing expertise, deep industry knowledge and exceptional client service, and our way of Making Life Easier over the lifecycle of each investment for our private equity sponsors.