Abacus expands investment team

The New York based lender has recently reached $500 million in new loan commitments and added four people to its investment staff.

Abacus Finance Group, the New York-based direct lending firm that provides senior financing to private equity-sponsored, lower mid-market companies, has added a senior vice president, an associate and two analysts to its team recently. The new hires are meant to support the firm’s growth, as Abacus has recently reached $500 million in new loan commitments around the time of its three year anniversary, the firm announced on Tuesday. The firm was formed by president and chief executive Tim Clifford in June 2011.

Aized Rabbani was brought on board as a senior vice president. He will be responsible for originating, structuring, underwriting and executing new investments. Prior to joining Abacus, he was an executive director at JPMorgan in the investment banking corporate credit group. He has previously held other posts at the bank and has also worked at General Electric in the past.

Abacus also recently hired Brian Green as an associate, as well as Rafal Rydzewski and Joseph Lee as analysts. Green was previously an associate at Aterian Investment Partners and Wafra Partners, while Rydzewski hails from BNP Paribas’ Merchant Banking Group and Lee was an analyst at GE Capital.

Abacus targets debt financing opportunities of up to $50 million with a typical hold size ranging from $10 million to $25 million, and finances companies with EBITDA between $3 million and $15 million. Abacus is an affiliate of New York Private Bank & Trust, the holding company for Emigrant Bank, which was founded in 1850.