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Stock impact report

Abacus Global Management to acquire $53 million stake in Manning & Napier, forms strategic alliance [Yahoo! Finance]

Abacus Global Management, Inc. Class A (ABX) 
Last abacus global management, inc. class a earnings: 10/24 05:05 pm Check Earnings Report
US:NYSE Investor Relations: barrick.com/investors/default.aspx
Company Research Source: Yahoo! Finance
Abacus Global Management (NYSE:ABX) has agreed to acquire an approximately $53 million minority equity stake in wealth and asset manager Manning & Napier, as the alternative asset manager looks to expand distribution of its longevity-focused investment products. The Orlando, Florida-based company said the deal will be accompanied by a strategic alliance agreement aimed at driving growth through product distribution, lead generation and joint product development, while allowing Manning & Napier to maintain its independent operations. Manning & Napier manages about $18 billion in total assets and serves roughly 3,400 clients. Abacus CEO Jay Jackson said the investment marks a key step in the company's evolution into a “fully integrated, longevity-focused alternative asset management platform.” “Combined with our proprietary LifeARC data and actuarial capabilities, this partnership completes the Abacus flywheel—connecting our Life Solutions origination engine, our growing Asset Show less Read more
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