Abacus Capital Group sells equity interest to AMG

Abacus Capital Group has sold a majority equity interest to Affiliated Managers Group (AMG).

After the closing of the transaction, Abacus senior management will continue to hold a substantial portion of the equity of the firm and direct its day-to-day operations, consistent with AMG’s partnership approach, which is recognized by the marketplace for preserving the operating and investment independence of AMG Affiliates.

Abacus is an independent, privately owned real estate investment manager with $2 billion in assets under management.

The terms of the transaction were not disclosed. Benjamin Friedman, CEO, and members of the senior management team will enter into long-term employment agreements with the firm. The transaction is expected to close in fourth quarter 2021.

Hodes Weill acted as financial adviser to AMG.