Core Viewpoint - Abacus Global Management has launched a new asset-based finance strategy targeting the $20 trillion-plus asset-based finance market, leveraging its proprietary insurance analytics and institutional origination expertise [1][10]. Company Overview - Abacus Global Management, Inc. is a leader in the alternative asset management industry, focusing on longevity-based assets and personalized financial planning [19]. Leadership Team - The new strategy will be led by Monty Cook and Elena Plesco, who bring a combined four decades of experience in asset-based finance and specialty credit [4][5][6]. Investment Strategy - The ABF strategy will focus on asset-backed investments, aiming for net risk-adjusted returns of 11–13% with a target investment duration of three to five years [9][10]. - Key investment areas include consumer credit, equipment finance, receivables, small business loans, and insurance-related assets [8][9]. Strategic Rationale - The launch of the ABF strategy aligns with Abacus's goal of building a diversified alternative asset management platform, responding to increasing institutional demand for predictable cash flows and low correlation to traditional markets [10][11]. Unique Capabilities - Abacus combines institutional-quality origination and structuring expertise with proprietary insurance analytics, providing a competitive edge in sourcing and pricing [2][14]. - The strategy emphasizes downside protection, targeting approximately 65% of investments in holdings with investment grade-like characteristics [14].

Fundraising - PIMCO raised over $7 billion for an asset-based finance strategy [1] - The fundraising includes PIMCO's initial funds specifically for insurance companies and high-net-worth individuals [1]

Core Insights - HarbourView Equity Partners has successfully closed an additional $500 million in debt financing through a new private securitization backed by its diversified music portfolio, bringing its total regulatory assets under management to approximately $2.67 billion [1][8] - The financing was supported by KKR-managed insurance vehicles, which also participated in a previous financing round of nearly $500 million in 2024 [2][4] - HarbourView aims to leverage this additional capital to accelerate its strategy in the media, sports, and entertainment markets, focusing on investing in evergreen intellectual property that is historically uncorrelated to broader market volatility [3][5] Company Overview - Established in 2021, HarbourView has built a diverse portfolio featuring over 70 music catalogs and approximately 35,000 songs across various genres and artists [5][8] - The firm has engaged in notable projects, including financing Hip Hop biopics in partnership with Will Smith's Westbrook Studios and investing in Usher's 2024 concert film [5] - HarbourView's strategy emphasizes data analytics and value creation to deliver differentiated returns within the creative ecosystem [5][8] KKR's Role - KKR's Asset-Based Finance strategy focuses on credit investments backed by diversified pools of financial and hard assets, with approximately $74 billion in ABF assets under management globally [4] - KKR's continued support for HarbourView highlights the strong demand for uncorrelated assets in the market [6][10] - The partnership with KKR exemplifies the breadth of investment opportunities in music intellectual property [3][4]