Abacus Finance Announces a Further Expansion of its Team With the Hiring of Two New Investment Professionals

July 22, 2019

By: Abacus Finance Group, LLC

Abacus Finance Group, LLC, a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, today announced the hiring of Seth I. Friedman as a managing director and Austin Rendell as an analyst. This follows last week’s announcement of the promotion of Eric Petersen to director and the hiring of Jacob Wise as an analyst.

“Both of these announcements reflect our continuing commitment to creating the deepest investment team serving sponsors in the lower-middle market sector,” said Tim Clifford, president and CEO of Abacus. “These investment professionals will be valuable additions to what is a proven team whose collective ability is an important aspect of Making Life Easier™ through our Total Partnership Approach™.” 

Seth Friedman is an experienced cash-flow lender to lower-middle market companies in support of leveraged buyouts, recapitalizations, and growth financings across a broad range of industries. Previously, he served as a managing director at both GB Capital and RLJ Credit Management and was co-founder and managing director of Perseus Mezzanine Partners. Earlier experience included positions at MetLife Investments, Brown Brothers Harriman, Mesirow Financial, and LaSalle Bank. Friedman earned a Bachelor of Science degree at the University of Wisconsin.

Austin Rendell, who joins Abacus as an analyst, works as part of the investment team structuring, underwriting and executing new investments. He also performs various portfolio monitoring and valuation tasks. Previously, he was a financial analyst with BMO Harris Bank’s Food & Consumer Group, which provides senior debt financing to middle-market companies in the food sector. Rendell earned a Bachelor of Science in Business Administration with majors in finance and marketing from Georgetown University. 

Abacus Finance is a leading direct lending company, focused on providing cash flow senior financing to private equity-sponsored, lower-middle market companies across diverse industries. Since its inception in June 2011, it has closed over $2 billion in financings. Abacus targets debt financing opportunities of up to $75 million with a typical hold size ranging from $10 million to $40 million, and finances companies with EBITDA between $3 million and $15 million. Abacus is an affiliate of New York Private Bank & Trust which was founded in 1850. 

Abacus Finance is located at 335 Madison Avenue, 23rd Floor, New York, NY 10017. All inquiries and new investment opportunities should be directed to Tim Clifford at 212-850-4620 or to cliffordt@abacusfinance.com. Please visit abacusfinance.com for more information.

The Total Partnership Approach TM, which is a registered trademark of Abacus Finance, LLC, brings together cash-flow financing expertise, deep industry knowledge and exceptional client service over the lifecycle of each investment – all providing our sponsors with certainty of close and giving them peace of mind. Our team’s deep industry knowledge combined with an obsession for efficiency results in a turnaround time of under 72 hours. This swift response time is just one aspect of our Total Partnership Approach™ – a comprehensive methodology that reflects our emphasis on growing relationships rather than just focusing on the number of transactions.

How do we go about Making Life Easier™ – which is our slogan and also a registered trademark? The key lies in forging deep partnerships by going well above and beyond what sponsors traditionally have come to expect. We don’t believe in the phrase “good enough.” We push ourselves to create custom financing solutions tailored for each company – deals are started from the ground up, and we work side-by-side with the private equity sponsors we serve during each stage of the transaction life cycle.