Florida-based Abacus Global Management is set to distribute its investment products, including asset-based finance strategies, to Manning & Napier clients after agreeing to acquire a $53m (£40m) minority equity stake in the wealth and asset manager.
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Under the agreement, Manning & Napier will have the ability to offer a range of Abacus Asset Group investment products, including ETFs, longevity funds, and asset-based finance strategies, to their clients and partners.
Abacus Life Solutions, which generates around 10,000 customer leads per month through its origination platform, will pass on to Manning & Napier’s wealth advisory platform any leads generated from individuals receiving settlement proceeds or those not suitable for Abacus’s core products. In turn, Manning & Napier’s client base provides “a natural referral pool” for the Abacus Life Solutions product range.
Additionally, the two firms will collaborate on the development of lifespan-based financial planning products tailored to Manning & Napier’s client demographics, using Abacus’s proprietary longevity data and actuarial capabilities, LifeARC, with Manning & Napier’s wealth planning expertise and infrastructure.
The deal is expected to close in the second quarter of 2026 subject to regulatory approvals.
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Manning & Napier will maintain its independent operations.
“Manning & Napier brings a proven wealth advisory platform with approximately 3,400 clients, $18bn in total AUM, with more than 55 years of trusted investment management,” said Jay Jackson, chief executive of Abacus.
“Combined with our proprietary LifeARC data and actuarial capabilities, this partnership completes the Abacus flywheel – connecting our Life Solutions origination engine, our growing Asset Group, and now a dedicated wealth management channel. As part of this investment, we are building a longevity-focused wealth ecosystem that we believe will generate significant value for our customers and shareholders.”
“This partnership further validates our strategic vision for Manning & Napier, with a continued focus on providing superior investment solutions and exceptional planning tools and technology to deliver on our commitments to clients,” added Paul Battaglia, president and chief financial officer at Manning & Napier.
Dynasty Financial Partners acted as an exclusive financial advisor, and Latham & Watkins acted as legal advisor to Abacus, while Berkshire Global Advisors acted as the exclusive financial advisor, and Morgan, Lewis & Bockius acted as legal advisor to Manning & Napier.
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