Abacus Group Caps Landmark Year with 100% Growth and Continued Geographic Expansion
by Abacus Group, on May 21, 2012
Abacus Group Caps Landmark Year with 100% Growth and Continued Geographic Expansion Top-tier and emerging hedge funds and investment managers turn to trusted provider for secure, cloudbased IT services
New York, NY, May 21, 2012 - Abacus Group LLC, a leading provider of hosted IT solutions for hedge funds and private equity funds, today announced explosive 12-month growth. Abacus recorded significant new client wins in North America driven by demand for its AbacusFLEX™ hosted IT solution, with a 100% increase to its client base since May 2011. The company has doubled its sales and support staff and opened its third new office in North America as hedge funds and private equity funds rapidly adopt Abacus’s cloud-based technology services to support their critical IT operations.
The past 12 months have seen an accelerated expansion of Abacus’s business, with a considerable
increase of live users on the Abacus private cloud. Growth has been particularly strong among both
newly launched and established hedge funds that face escalating costs associated with owning and
operating their own on-site IT resources. Abacus solutions empower clients with the flexibility to host
any application, the scalability to add resources as needed, and the security of knowing data is always available and always protected. The cost-effective and fully redundant suite of services is supported 24x7x365.
Other key milestones for Abacus over the past 12 months include:
Certification as the first private cloud network for hedge funds to complete the Statement on
Auditing Standard (SAS) 70 audit
Rapid adoption among new hedge funds, with double-digit growth among emerging hedge
funds in Q1 2012 alone
Recognized as the #1 Technology Provider by Hedge Funds Review in its 2011 Service Provider
Rankings, and a Top 100 Managed Service Provider by MSPmentor, and a Top 100 Cloud
Services Provider by Talkin’ Cloud
Partnerships with key technology providers, including: NYSE Technologies and SunGard Global
Network and MarketMap to give hedge funds and investment managers global connectivity and
market data through Abacus; eSentire for collaborative threat management; and Eze Castle
Software and Advent for funds that choose to deliver sophisticated financial applications, such
as multi- strategy order management or portfolio management systems, as a service, rather
than managed in house
Appointments of key established industry personnel, including Jonathan Jasmine, Vice
President, who joined Abacus following his senior role at Bank of America; Aaron Perlstein,
Senior Network Engineer, formerly of Bank of America and BNP Paribas Prime Brokerage; and Paul Ponzeka, Senior Systems Engineer and Storage Administrator, who held prior roles at
Davidson Kempner Capital Management.
“Abacus’s continued momentum and rapid adoption among the hedge fund community is an incredible endorsement of our proven cloud deployments, deep domain expertise and extensive library of tested proprietary tools,” Chris Grandi, CEO of Abacus Group. “Hedge funds continue to move to the cloud to help them manage regulatory requirements and cost pressures to allow them to focus on their core business without sacrificing performance, security, and resiliency of their technology and operations.
We’re proud so many are turning to Abacus to help them accurately predict technology expenses,
ensure business continuity and expand IT capacity as they grow their businesses.”
About Abacus Group LLC
Abacus Group LLC is an IT solutions firm focused on helping hedge funds and private equity funds deploy and manage hosted IT solutions. Our objective is to provide investment managers and technology executives with solutions to improve their IT service experience. Abacus has developed a scalable, redundant and highly available IT platform to allow investment managers to run all of their technology as a service. The days of purchasing new hardware every few years are over. Abacus manages mirrored data centers throughout the US and provides cost effective and efficient solutions. Firms connect to their IT applications and data through high speed circuits with minimal onsite equipment.
For more information, please visit http://abacusgroupllc.com/.