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Abacus Global Management (NYSE: ABX) has completed a dual-tranche life insurance securitization valued at more than $400 million. The Orlando-based alternative asset manager announced the closing on September 23, 2026. The structure includes Class A and Class B notes as well as a residual interest, and it is backed by a diverse portfolio of life insurance policies.
Investment-Grade Rating and Strong Investor Demand
The notes received an investment-grade rating from a third-party rating agency. Demand from institutional fixed income investors was strong enough that the offering was oversubscribed and upsized. The notes were sold through a private placement to accredited investors under Section 4(a)(2) of the Securities Act of 1933.How the Deal Works
A special-purpose vehicle issues the notes, which are backed by a pool of policies. Abacus continues to service those policies through its affiliates. The company says its integrated origination, underwriting, and servicing platform is what connects these assets to institutional capital markets.Use of Proceeds
Abacus plans to use the net proceeds to support continued policy origination and for general corporate purposes. The company also says the deal grows its assets under management and moves its revenue mix toward recurring, fee-related earnings and away from transactional gains.What Executives Said
Chief Investment Officer Elena Plesco described the deal as "a platform strategy, not a financing strategy." She said packaging longevity-based assets for institutional fixed income buyers broadens the investor base and builds a durable, management-fee-driven revenue stream.Chairman and CEO Jay Jackson called it the company's largest security to date. He said the rating and response investors show a deep market for longevity-based assets among the world's largest fixed income buyers.
A Step Up from Earlier Issuance
The transaction follows a much smaller $50 million investment-grade securitized note backed by life insurance assets, which Abacus completed earlier this year. Together, the two deals point to a maturing securitization platform that gives the company a repeatable funding channel and ongoing servicing revenue.
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