After announcing a significant acquisition deal, shares of Abacus Life, Inc. (NASDAQ: ABL) experienced a notable surge this morning. As of the latest update during the current session, ABL stock rose by 18.26%, trading at $9.91.
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Strategic Acquisition of Carlisle Management Company
Abacus Life (ABL) has entered into a definitive agreement to acquire Carlisle Management Company SCA, a prominent Luxembourg-based investment manager specializing in the life settlement sector, for approximately $200 million.
With approximately $2.0 billion in assets under management, this acquisition aligns seamlessly with Abacus’ strategy for continued expansion as a global asset manager. Abacus’s offerings to institutional investors who are looking for appealing risk-adjusted returns with no connection to other asset classes are improved by the inclusion of Carlisle.
Leading the life settlement sector since 2008, Carlisle and his team have established new benchmarks for honesty and openness while generating remarkable prospects for policyholders and investors. The Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, the second-largest fund manager domicile in the world, has granted Carlisle a license as an Alternative Investment Fund Manager.
Enhancing Global Financial Capabilities
The acquisition of Carlisle represents a strategic move that aligns perfectly with Abacus Life’s commitment to client-centric solutions and its ongoing growth as a global alternative asset manager. Carlisle boasts a strong and enduring track record as a fund manager within the life settlement industry, and its geographically diverse client base will further accelerate Abacus’ ambition to become a leading global financial player.
With this transaction, investors now have access to an uncorrelated, highly-returning asset class—insurance products—which is a crucial turning point for ABL Wealth. By incorporating Carlisle’s expertise and robust portfolio, Abacus Life strategically positions itself at the forefront of delivering sophisticated investment solutions for the life settlement market. This move underscores ABL’s dedication to offering unparalleled value and expanding its capabilities to serve a broader range of investors.
Transaction Details
Carlisle shareholders will receive consideration in the form of $73.5 million in par value of Abacus bonds and 9.3 million shares of Abacus Life common stock, subject to closing adjustments and certain performance thresholds. The transaction is pending regulatory approval.
