ABACUS FINANCE GROUP ANNOUNCES SUCCESSFUL FINAL CLOSING OF SBIC FUND I AT $262.5 MILLION, ACHIEVING ITS HARD CAP
First-time fund oversubscribed, reaches final close with $87.5 million in private capital, leveraging SBA program to support small business growth.
New York, NY, October 20, 2025 - Abacus Finance Group, LLC (“Abacus”) today announced the successful final closing of Abacus Finance SBIC Fund I, L.P. (the “Fund” or “Abacus SBIC”), raising $87.5 million in private capital for a total fund size of $262.5 million. The Fund was oversubscribed and ultimately hit the hard cap. The Fund leverages the U.S. Small Business Administration’s Small Business Investment Company (“SBIC") program, which provides government backing to enhance the fund’s capacity to support growing small businesses. Abacus SBIC is led by Tim Clifford, Sean McKeever, Seth Friedman, and Eric Petersen, who combined have more than 125 years of total investment experience lending to U.S.-based small businesses.
The successful closing represents a significant milestone for Abacus Finance Group’s inaugural fund, demonstrating strong investor confidence in the firm’s investment strategy and management team. The fund received robust support from a diverse investor base spanning the high-net-worth community and institutional investors, including commercial banks, endowments, family offices, and insurance companies.
“We are incredibly grateful for the overwhelming support we’ve received in launching our first fund,” said Tim Clifford, CEO and Founding Partner of Abacus. “Achieving this successful closing as a first-time fund manager speaks to the confidence our investors have placed in our team and our commitment to supporting the growth of small businesses across the country. This milestone positions us to make meaningful investments that will drive job creation and economic growth.”
Sean McKeever, President and Founding Partner of Abacus, highlighted the strategic importance of the fund’s structure. “The SBIC program provides us with a unique opportunity to amplify our impact in the small business community,” said McKeever. “With this enhanced capital base, we can support entrepreneurs who might otherwise struggle to access the growth capital they need. Our focus remains on identifying businesses with strong fundamentals and exceptional management teams that are positioned to create sustainable value and meaningful employment opportunities.”
The SBIC program is designed to stimulate the flow of private equity capital to eligible small businesses by providing government-backed leverage to qualified investment funds. Through this structure, Abacus Finance SBIC Fund I will be positioned to make debt and equity co-investments in small and medium-sized businesses across various sectors, while supporting its private equity sponsor relationships.
Seth Friedman, Managing Director at Abacus, emphasized the collaborative nature of the fund’s success. “We are deeply appreciative of the tremendous support we have received from our limited partners, who share our vision vis-à-vis empowering small business growth,” said Friedman. “Additionally, we are grateful for the partnership and support of the Small Business Administration, whose SBIC program enables us to provide much-needed capital to underserved markets and deserving entrepreneurs.”
Eric Petersen, Managing Director at Abacus, spoke to the fund’s investment approach and market opportunity. “We see tremendous potential in the small and medium-sized business sector, particularly in companies that are generating positive cash flow but need capital to accelerate their growth trajectory,” said Petersen. “Our disciplined investment process focuses on businesses where we can add real value beyond just capital – whether through operational expertise, strategic guidance, or helping them access new markets. This fund positions us to be true partners with management teams as they scale their operations.”
Given the significant demand for debt capital by the small business community, Abacus has already deployed approximately 40% of its inaugural fund across multiple separate portfolio company investments. The Abacus team anticipates deploying the remaining capital in the fund over the next 9-18 months, focusing on supporting businesses that demonstrate strong growth potential and the ability to create jobs in their communities.
About Abacus Finance Group, LLC
Abacus Finance Group, LLC (including its subsidiaries and affiliates) is a leading asset management firm specializing in private credit solutions to the lower middle market. Since Abacus’s inception in 2011, it has closed over $3.5 billion in financings. The firm targets private debt financing opportunities of up to $60 million and finances companies with EBITDA between $2 million and $15 million and has roughly $1.3 billion in Assets Under Management. The firm is headquartered in New York City and maintains a second office in Portsmouth, New Hampshire. Abacus is an affiliate of New York Private Bank & Trust, which was founded in 1850.
Abacus Finance is located at 22 Vanderbilt Avenue, Suite 6H, New York, NY 10017. All inquiries and new investment opportunities should be directed to Tim Clifford at 212-850-462 or cliffordt@abacusfinance.com. Please visit abacusfinance.com for more information.
Total Partnership Approach™ (TPA), a registered trademark of Abacus Finance, LLC, brings together cash-flow financing expertise, deep industry knowledge, a turnaround time of under 72 hours, and exceptional client service over the lifecycle of each investment – all in all, a comprehensive methodology that reflects our emphasis on growing relationships rather than just focusing on the number of transactions. We encourage sponsors to Count on Us™ because of the deep partnerships we forge by going well above and beyond what they traditionally have come to expect. We don’t believe in the phrase “good enough” – we push ourselves to create custom financing solutions specifically tailored for each transaction.