![]() All inquiries and investment opportunities should be directed to Mr. We are excited about building this business into a leading finance company for lower middle-market companies."Ībacus is headquartered at 6 East 43rd Street, 20th Floor, New York, NY 10017. It includes revolving loans, term loans, subordinated debt, and one-stop structures in addition to equity co-investments, fund investments and traditional banking services including treasury and private wealth management services. We also have a broad and flexible product offering for sponsors. We have an initial lending capacity of over $600 million, derived principally from a substantial retail and stable FDIC-insured depository base, to support private equity-backed investments. Clifford added, "are its funding source and its product offering. "Two important advantages of this platform," Mr. Our approach to financings will, as in the past, be client-focused and flexible with an emphasis on quick and thoughtful responses and the creation of tailored capital solutions that precisely meet the financing needs of clients. ![]() Both previously worked with me and have significant middle market leveraged lending experience. Sean McKeever and Mindy Naylor have joined Abacus as Senior Vice Presidents. "We have a cohesive team and expect to close Abacus's first transaction in June. Abacus targets financing opportunities of up to $50 million with a typical hold size ranging from $10 to $20 million, and the companies we help finance will typically have EBITDA between $3 million to $15 million. "Our exclusive focus on buyouts and recapitalizations in that market is what makes our model different. "In structuring Abacus, we chose to specialize in cash flow-based senior and subordinated debt financing to lower middle-market companies sponsored by private equity firms because we believe that market remains underserved," Mr. Tim, who over a two-year period built Amalgamated Capital from a start-up into a successful leveraged lending business on a regulated banking platform, has 20 years of leveraged finance experience and a loyal following within the private equity community." "We know what it takes to build a successful leveraged lending franchise, and we are looking forward to partnering with Tim Clifford in the development and growth of Abacus. "We are enthusiastic about the leveraged lending business, and we are fully committed to building Abacus into a market-leading specialty finance business to support the growth of lower middle-market companies across the country," said William Staudt, Vice Chairman of Emigrant Bank. Clifford was a Managing Director and Principal of Churchill Financial, Senior Vice President and Group Head at Comerica Bank, and a Managing Director at FleetBoston Financial. Prior to founding Amalgamated Capital, Mr. Clifford, the founder and former Head of Amalgamated Capital, has been appointed President and CEO of Abacus. NEW YORK, J(GLOBE NEWSWIRE) - New York Private Bank & Trust (NYPB&T) and its subsidiary Emigrant Bank are pleased to announce the formation of Abacus Finance Group, LLC (Abacus), a specialty finance company focusing on cash flow financing for lower middle-market companies sponsored by private equity firms. Focus Will be on Lower Middle-Market Cash Flow Financing for Private Equity-Sponsored Companies
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