FFL Partners (FFL), a private equity firm focused on growth investments in tech-enabled business services and healthcare companies, has completed a strategic growth investment in Abacus Group (Abacus), a financial services-focused IT Managed Services Provider (MSP) specialising in hedge fund, private equity, venture capital and family office clients.
FFL Partners (FFL), a private equity firm focused on growth investments in tech-enabled business services and healthcare companies, has completed a strategic growth investment in Abacus Group (Abacus), a financial services-focused IT Managed Services Provider (MSP) specialising in hedge fund, private equity, venture capital and family office clients.
Terms of the private transaction have not been disclosed.
Founded in 2008, Abacus manages clients’ entire IT stack via a tech-enabled streamlined offering specifically designed for the unique needs of the financial services industry. The innovative and award-winning Abacus Cloud platform allows investment managers to source all technology as-a-service, offering the capacity to scale on-demand to meet current and future IT, cybersecurity, and compliance requirements. Founded in San Francisco and headquartered in New York City, Abacus has over 250 employees and serves more than 650 clients with on-site support teams in every major financial city across the US and the UK.
Abacus’ financial services IT MSP market is estimated to be over $4 billion and is projected to grow as much as 15% through 2025.
Abacus marks FFL’s third IT services investment, following ALKU, an Andover, Mass.-based leading IT & Life Sciences specialized consulting firm; and Optomi Professional Services, a specialized provider of technology consulting, team augmentation and IT outsourcing services.
