Abacus Group, a provider of hosted cloud IT solutions for alternative asset funds, added 25 new clients in the first quarter of 2017, including a large institutional investor with multiple offices in the US, UK and Asia.
During the quarter, Abacus doubled its revenues as compared to the last quarter of 2016.
“The growth of Abacus in the alternative asset management space continues at a rapid pace,” says CEO Chris Grandi (pictured). “During the past quarter, we expanded our new data centres in London and in Dallas, increasing our data processing capabilities and capacity to meet the analytic demands of our customers.”
Grandi adds that during the past six months Abacus has rolled out product enhancements, including a robust and secure infrastructure technology solution for remote/satellite offices in an easily managed single device, and the introduction of an inventory and asset control module for the Abacus Portal that assists clients with meeting OCIE requirements. In addition, Abacus continues to expand its AbacusFLEX client base in the UK with the addition of a recently launched large, high-profile hedge fund.
Grandi says Abacus’s cybersecurity solutions, deployed in the past year through partnerships with Kaspersky Lab, Foresite and Palo Alto Networks, continue to be in high demand among alternative asset management firms seeking an end-to-end IT solution.
“Cybercriminals target financial services firms like bank robbers target banks,” Grandi says. “Abacus provides a secure environment in which our clients can do business.”
