IPO Edge and the Palm Beach Hedge Fund Association hosted a fireside chat with Abacus Life on Friday, June 23rd to discuss the company’s merger with East Resources Acquisition Corp. (Nasdaq: ERES), its growth story and business model along with its acquisition strategy. The live event featured Abacus President and CEO Jay Jackson, moderated by IPO Edge Editor-in-Chief John Jannarone in a video session lasting approximately 60 minutes including a Q&A with the audience.
WATCH FULL REPLAY: CLICK HERE
Mr. Jackson discussed:
- Current ownership structure and growth story
- Business model
- Scale of the business and growth projections
- Expectations for capital raises or new investors in the next couple of years
- Acquisition strategy whether core or opportunistic
- Recent or forward-looking growth metrics
Abacus is a leading vertically integrated alternative asset manager specializing in life insurance products. Since 2004, the company has purchased life insurance policies from consumers seeking liquidity and has actively managed those policies over time (via trading, holding, and/or servicing). With over $2.9 billion in face value of policies purchased, Abacus has helped thousands of clients maximize the value of life insurance. Over the past 18 years, the company has built an institutionalized origination and portfolio management process that is supported by a 59-person team, long-term relationships with 78 institutional partners and 30,000 financial advisors, and the ability to operate in 49 states. The company has serviced approximately $950 million in policies and has managed assets for large asset managers and third-party investment funds. Abacus’ leadership team averages 20+ years of experience and have been innovators since the life settlements industry’s inception in the mid-90s. The company is a proud member of the Life Insurance Settlements Association (LISA) and complies with HIPAA and privacy laws to maintain and protect confidentiality of financial, health, and medical information. Abacus is also proud to be a BBB Accredited Business with an A+ rating.
About Jay Jackson
Jay Jackson joined Abacus Life in 2016. His strategic business development and creation of innovative new processes and efficiencies has propelled the company forward and, under his direction, Abacus has taken over as the industry’s leader in payouts to clients. As President & CEO, Jay has built multiple cutting-edge origination and investment platforms and launched a direct underwriting and purchase process to dramatically reduce the time a client has to wait for payment. Jay is an industry thought leader relating to longevity and senior finances; he coauthored the book “Pursuing Wealthspan”, he frequently presents to universities and has been interviewed by major publications on the subject matter including the NY Times. Jay also serves as a current member of the Orlando Mayors Committee on Livability and Healthy Aging and serves as an Executive Board Member for the Senior Resource Alliance an agency of the Florida Department of Elder Affairs. Jay began his career at Franklin Templeton Investments, where he served as vice president for more than a decade. Prior to joining Abacus, Jay co-founded and managed the Fayerweather Street Life Fund as well as the Cambridge Life Management origination platform for FDO Partners, a $3 billion quant investment firm founded by Harvard Business School professor Ken Froot.