Abacus Global Management launches asset-based finance strategy

Abacus Global Management Inc. (NYSE: ABX) announced the launch of an asset-based finance strategy within its Abacus Asset Group division. The strategy will be led by Monty Cook, Head of Private Credit at Abacus and former Head of Asset-Based Finance at Varde Partners, and Elena Plesco, Chief Capital Officer at Abacus and former Co-Head of Specialty Finance at KKR.

The asset-based finance strategy will deploy capital into asset-backed investments, combining origination and structuring expertise with Abacus's insurance analytics. The strategy targets net risk-adjusted returns of 11-13%, including capital appreciation, with an average investment duration of three to five years.

Cook managed asset-based finance lending for North America at Varde Partners and previously spent eight years at THL Credit and First Eagle Alternative Credit. Plesco spent nearly a decade at KKR, where she focused on originating and managing asset-backed investment portfolios.

The strategy will target investments across consumer credit, equipment finance, receivables, small business loans, intellectual property rights, and contractual cash flows. The approach includes a focus on asset-backed lending, structured credit, and corporate asset-based credit, with particular expertise in insurance-related assets.

Abacus plans to target approximately 65% of investments in holdings with investment grade-like characteristics, defined as exposures with structural protections, collateralization, and credit metrics consistent with investment grade risk parameters.

"This strategy represents the natural evolution of our platform," said Jay Jackson, Chairman and Chief Executive Officer of Abacus. "We have spent more than 20 years building institutional-grade capabilities in insurance analytics, actuarial modeling, and specialty asset servicing."

The company stated that asset-based finance represents a market opportunity exceeding $20 trillion. The strategy aims to advance Abacus's objective of building a diversified alternative asset management platform with multiple sources of fee-related earnings.

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