Abacus Enters 15th Year with Series of Promotions

Abacus Finance Group has promoted Seth Friedman and Eric Petersen from managing director to senior managing director and Greg Scanlon from senior associate to vice president.

Abacus specializes in financing sponsor-led transactions in the lower middle market. Since inception, the firm has closed more than $3.5 billion in financings and targets private debt investments of up to $60 million in companies with EBITDA between $2 million and $15 million.

In October 2025, Abacus closed its first Small Business Investment Company vehicle, Abacus Finance SBIC Fund I LP (Fund I), with $262.5 million in capital. The firm secured $87.5 million in private commitments and leveraged the U.S. Small Business Administration’s SBIC program to reach its hard-cap target. Fund I has already deployed approximately 40% of its capital and expects to invest the remainder over the next 9 to 18 months.

“Seth, Eric, and Greg are key members of what has become one of the strongest investment teams in our industry. As we celebrate our 15th year, our team’s experience continues to deepen, making us better prepared than ever to meet our goal of providing our customers with resources that deliver swift and efficient service,” said Tim Clifford, the CEO and founding partner of Abacus. “Their promotions reflect our long-standing commitment to fostering professional growth as we continue building an organization that delivers exceptional results for clients and stakeholders. The strength of our investment team and our ability to move quickly are important aspects of why clients can Count on Us™ and the effectiveness of our Total Partnership Approach™.”

Mr. Friedman joined Abacus in 2019 and serves as an investment committee member of the firm’s SBIC fund and leads its capital formation efforts. He has more than 25 years of experience in leveraged finance and investment banking in the lower middle market. Before joining Abacus, Mr. Friedman was a managing director at GB Capital where he led lower middle market business development. Earlier in his career, Mr. Friedman held senior roles at RLJ Credit Management, Perseus Finance and MetLife Investments, and previously worked at Brown Brothers Harriman, Mesirow Financial and LaSalle Bank.

Mr. Petersen joined the firm in 2013 and serves as an investment committee member and chief financial officer of the SBIC fund, while also leading business development efforts. He previously worked in leveraged finance at BNP Paribas and held private equity-backed operational roles at Chromalloy and GE Energy. Earlier in his career, Mr. Petersen spent more than 14 years as a naval officer and F/A-18 fighter pilot.

Mr. Scanlon joined Abacus in 2021 and is involved in structuring, underwriting, executing, monitoring and valuing investments. Prior to Abacus, Mr. Scanlon was an analyst in MetLife’s corporate private credit group.

Abacus is headquartered in New York City and maintains a second office in Portsmouth, New Hampshire. Abacus is an affiliate of New York Private Bank & Trust, which was founded in 1850.