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Stock impact report

Abacus Global expands with Manning & Napier stake - ICYMI [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) CEO Jay Jackson talked with Proactive about the company's $53 million strategic investment in Manning & Napier and how it strengthens its long-term growth strategy. Proactive : Exciting times for the company. A big deal announced — Manning & Napier taking a $53 million stake. Tell me about them and why you made this move. Jay Jackson : We were looking for complementary businesses to our already successful model. Our core engine is in our life solutions division, where we acquire policies and hold or resell them. Our asset management division raises capital to acquire those policies. A third key piece was gaining more access to originate policies while providing services to clients. Manning & Napier goes back 50 years and has a strong reputation. With $18 billion in assets and over 3,400 retail accounts, the relationship is incredibly additive. It provides a direct pipeline into our life solutions division and generates revenue for both firms. Show less Read more
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