Abacus Finance Group, a provider of cash-flow based senior financing for private equity-sponsored, lower-middle market companies, has promoted Aized Rabbani from Director to Managing Director, Timothy Wong from Senior Vice President to Director, and Jonathan Choa from Senior Associate to Vice President.
Mr. Rabbani joined Abacus Finance in 2014 as a senior vice president on the investment team, responsible for originating, structuring, underwriting and executing new investments. His sponsor coverage area includes the Northeast and Mid-Atlantic states. Previously, he was an executive director at JPMorgan in the investment banking corporate credit group. Earlier in his career, he was a vice president in JPMorgan’s mezzanine capital group and an associate in the firm’s leveraged finance group. Mr. Rabbani has an MBA from the Wharton School of Business at the University of Pennsylvania and a BS in Electrical Engineering from Lafayette College.
Mr. Wong joined Abacus Finance in 2013 as a vice president on the investment team, responsible for originating, structuring, underwriting and executing new investments. He also performs various portfolio monitoring activities. His sponsor coverage area includes the Mid-West and West Coast. Previously, he was a vice president and a founding member of the leveraged finance team at US Bank in New York. Prior to US Bank, he was an assistant vice president at CIT Asset Management and a senior associate at American Capital. He has a BA in Economics and Finance from the University of Illinois.
Mr. Choa joined Abacus Finance in 2015 as an associate and works as part of the investment team in structuring, underwriting and executing new investments. He also fulfills various portfolio monitoring and valuation roles. Previously, he was an associate at Bank of America Merrill Lynch in the leveraged finance group. Prior to that, he was an associate at Jefferies in the leveraged finance group. Before transitioning to the private sector, he spent six years as an Army Infantry Officer. He earned an MBA from the Harvard Business School and has a BS in Economics from the United States Military Academy at West Point.
“These three partners are key members of the Abacus team and have helped us complete over 60 investments since our launch in 2011, putting us past the $1.7 billion mark in total financings,” said Tim Clifford, Co-Founder and CEO of Abacus. “When we set out to build a sponsor-focused leveraged lending business for the lower-middle market, we knew the demand was there, and over the past seven years we have been on a growth path that has made us the lower-middle market financing leader. Our value proposition goes back to that interaction with our private equity clients and wanting to make sure that they are at the forefront of everything we do. As we look forward, we will continue to put our sponsor relationships first and provide them with the level of service they have grown to expect.”
Abacus provides cash flow-based senior financing to private equity-sponsored, lower-middle market companies that have EBITDA between $3 million and $15 million. Debt facilities can be as large as $60 million with a typical hold size ranging from $10 million to $30 million. New York-based Abacus was formed in June 2011 and is an affiliate of New York Private Bank & Trust (www.abacusfinance.com).
“In addition to an exclusive focus on financing smaller buyouts,” added Sean McKeever, Managing Director, COO and Co-founder of Abacus. “The principal factor contributing to our growth is our Total Partnership Approach, which is a passionate commitment to serving our clients and delivering on what we promise. Execution of this would not be possible without talented partners like Aized, Timothy and Jonathan.”
© 2018 Private Equity Professional | January 10, 2018