Abacus Life, a publicly traded alternative asset originator and manager specializing in life insurance products, has signed an agreement to acquire Carlisle Management Company SCA, a Luxembourg-based alternative asset manager with approximately $2 billion in assets under management, for 200 million dollars.
Dynasty Investment Bank was the exclusive advisor to Abacus Life on the deal. Manorhaven Capital advised Carlisle, which is minority-owned by Pacific Current Group, a publicly traded multi-boutique asset management firm.
Late last year, Abacus opened a wealth management division, ABL Wealth, with support from Dynasty Financial Partners. signature plans to seed that bid acquiring and aggregating RIAs under the ABL Wealth brand. It will provide those advisers with guidance from both the inquiries the company receives and cash payments from its life settlement business.
The acquisition will give the firm's advisers access to Carlisle's alternative strategies, Abacus Life CEO Jay Jackson said.
“Carlisle has the strongest and most consistent track record as a fund manager in the life settlement industry, and its geographically diverse client base will further accelerate our efforts to become a global financial player,” Jackson said in a statement.
“By integrating Carlisle's expertise and strong portfolio into our offerings, we are strategically positioning ABL Wealth at the core of our mission to provide sophisticated investment solutions to the life settlement market,” said Elena Plesco, Chief Equity Officer of Abacus Life, in a statement. .
The wealth unit targets clients who have access to liquidity from their life insurance policies with financial planning and investment management services. Based in Orlando, Fla., the division helps clients invest policy proceeds or other assets in custom portfolios. It also offers retirement planning and risk management.
Earlier this year, Abacus Life renamed the technology division from LMA Technologies to ABL Tech and expanded its capabilities. The division also made mortality and life expectancy data available to its nascent wealth unit for the first time.