Abacus Life announces acquisition of Carlisle Management, enhancing its global alternative asset management offerings with $2 billion in assets.
Quiver AI Summary
Abacus Life, Inc. has successfully acquired Carlisle Management Company S.C.A., a prominent Luxembourg-based investment fund manager in the life settlement sector with over $2 billion in assets under management. This acquisition is a significant step in Abacus’s strategy to enhance long-term growth and diversify its investment offerings in alternative asset management. As part of the transaction, Jose Garcia, CEO of Carlisle, will join Abacus's executive leadership team. The acquisition enhances Abacus's ABL Wealth division and provides Carlisle's investors access to a unique portfolio of insurance products with high returns that are uncorrelated to market trends. Both companies are optimistic about the synergies and opportunities presented by this merger, highlighting their commitment to innovative financial products centered on longevity.
Potential Positives
- Abacus Life has successfully completed the acquisition of Carlisle Management Company, significantly enhancing its asset management capabilities by adding approximately $2 billion in assets under management.
- The acquisition aligns with Abacus's strategy to drive long-term growth and diversify its investment offerings, reinforcing its position as a leader in the alternative asset management sector focused on longevity data.
- Jose Garcia, CEO of Carlisle, joining the Abacus Executive Leadership Team brings additional expertise and leadership, potentially increasing the company's operational effectiveness and market reach.
- This transaction enables Carlisle’s investors to access Abacus Life’s high-returning, uncorrelated insurance products, broadening the investment portfolio and attracting a wider range of institutional investors.
Potential Negatives
- Acquisition of Carlisle Management may indicate Abacus Life is reliant on external growth strategies rather than organic growth, which can raise concerns about its long-term sustainability.
- Abacus Life's focus on life settlements and longevity data could expose it to regulatory scrutiny and market volatility, especially in a changing economic environment.
- While the acquisition adds significant assets, the integration of Carlisle could present operational challenges that might affect the performance of both companies in the short term.
FAQ
What is the recent acquisition announced by Abacus Life, Inc.?
Abacus Life, Inc. has acquired Carlisle Management Company S.C.A., adding over $2 billion in assets under management to its portfolio.
How does the Carlisle acquisition benefit Abacus Life?
The acquisition enhances Abacus's growth strategy by diversifying its alternative asset management offerings and increasing access to life settlement investments.
Who has joined the Abacus Life Executive Leadership Team?
Jose Garcia, CEO of Carlisle, has joined the Abacus Life Executive Leadership Team following the completion of the acquisition.
What is Abacus Life’s focus in asset management?
Abacus Life specializes in leveraging longevity data to offer uncorrelated, high-returning investments in life insurance products.
What services does Abacus offer through ABL Wealth?
ABL Wealth provides longevity-based wealth management platforms enabling financial advisors to create customized plans for clients seeking alternative investments.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
ORLANDO, Fla., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering global alternative asset manager specializing in leveraging longevity data and actuarial technology to offer uncorrelated investment opportunities, today announced it has completed the acquisition of Carlisle Management Company S.C.A. (“Carlisle”), a leading Luxembourg-based investment fund manager in the life settlement space with over U.S. $2 billion in assets under management. The Carlisle acquisition marks a key milestone in Abacus's stated strategy to drive long-term growth and diversify its value proposition through expanded global alternative asset-management offerings.
With the completion of this transaction, Jose Garcia, CEO of Carlisle, joins the Abacus Life Executive Leadership Team.
“We are honored to welcome Jose and the amazing Carlisle team to the Abacus family and to have accomplished our stated objective of completing the acquisition before the end of the fourth quarter,” said Abacus Life Chairman and CEO Jay Jackson. “Carlisle adds approximately $2.0 billion to our ABL Wealth division, and its investors are now able to fully access Abacus Life’s uncorrelated, high-returning asset class of insurance products.”
“On behalf of myself and everyone on the Carlisle team, thank you to Jay Jackson, Elena Plesco, the Abacus Life Board members, and everyone on the Abacus team,” said Jose Garcia, Carlisle CEO. “We look forward to working closely together and realizing the full potential of the tremendous opportunities and synergies that lie ahead.”
About Abacus
Abacus is a pioneering global alternative asset manager and market maker specializing in uncorrelated financial products. The company leverages its proprietary, cutting-edge longevity data and actuarial technology to purchase life insurance policies from consumers seeking liquidity. This creates a high-return asset class uncorrelated to market fluctuations for institutional investors.
With nearly $3 billion in assets under management, including recently-completed acquisitions, Abacus is the only publicly traded global alternative asset manager focused on lifespan-based financial products.
Abacus is expanding its leading expertise in longevity and lifespan into new growth areas:
- ABL Wealth - Leverages decades of data and proprietary algorithms to offer longevity-based wealth management platforms that enable financial advisors to create customized plans and provide access to uncorrelated investments.
- ABL Tech - A groundbreaking technology service that delivers advanced real-time data tracking and analysis for pension funds, governments, insurance companies, retirement associations, and more.
Through each new channel, Abacus is revolutionizing the future of asset management and financial planning, centered on longevity and lifespan.
About Carlisle Management Company S.C.A.
Established in 2008, Carlisle is a leading, highly diversified global investment management firm. Carlisle is licensed as an Alternative Investment Fund Manager under the supervision of the CSSF in Luxembourg, the second largest domicile for investment funds in the world.
The Carlisle team is at the forefront of the life settlement industry, establishing a new standard for transparent transactions, maintaining integrity, and creating exceptional opportunities for life settlement investors and policyholders. Carlisle’s state-of-the-art facilities and statistical modelling systems incorporate knowledge gained from over 60 years of combined investment experience within the alternative assets sector.
Supervised by the Luxembourg regulator and overseen by reputable audit firms at both management company and fund levels. Carlisle’s management focuses solely on maximizing investor returns, risk management and transparency in investor reporting within a regulated framework.
Contacts:
Investor Relations
Robert F. Phillips – SVP Investor Relations and Corporate Affairs
rob@abacuslife.com
(321) 290-1198
David Jackson – IR/Capital Markets Associate
djackson@abacuslife.com
(321) 299-0716
Abacus Life Public Relations
press@abacuslife.com
Carlisle Management Investor Relations
info@cmclux.com
Carlisle Management Public Relations
press@cmclux.com
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