Abacus Global to Acquire Minority Stake in Manning & Napier for $53M

Abacus Global Management (ABX) has agreed to acquire a $53M minority equity stake in Manning & Napier, a company that manages $18B in assets under management and serves around 3,400 clients. The two firms will establish a Strategic Alliance Agreement to expand their business offerings and strengthen their market presence. The deal is expected to boost ABX's assets under management and client base.