Abacus Global Management is an alternative asset management company built around the life settlements market. A life settlement is a transaction where Abacus buys an existing life insurance policy from its owner — typically a senior over 75 — for more than the policy's cash surrender value but less than the death benefit. Abacus then pays ongoing premiums and collects the death benefit at maturity. Policies are sourced through a network of ~30,000 financial advisors, direct-to-consumer advertising, and third-party brokers. Once acquired, Abacus either trades a policy to an institutional investor for an immediate spread, or holds it on its own balance sheet for the full death benefit. Abacus operates across four divisions: Abacus Life Solutions, the core origination and active management business; Abacus Asset Group, an asset management division with ~$3.3B in fee-paying AUM across longevity-focused funds and free-cash-flow ETFs (added via the acquisitions of Carlisle and FCF Advisors in late 2024); Abacus Intel, a technology division that provides mortality verification services to pension funds and insurers via SaaS-like contracts; and Abacus Wealth Advisors, an early-stage wealth management division. Abacus earns revenue through origination fees, trade spreads or hold returns on policies, and recurring management and servicing fees. Recurring fee revenue currently represents ~16% of total revenue, but Abacus is targeting 70% recurring revenue over the next five years. Abacus recently completed its first securitization of life insurance assets as a scalable, lower-cost funding mechanism it plans to expand.