Fintech firm Abacus Group doubles footprint in Ballantyne for Charlotte-based software development team
by Abacus Group, on Sep 20, 2018
CHARLOTTE, September 20, 2018 – Global fintech firm Abacus Group, which provides IT services and cloud computing solutions to the alternative investment industry, has moved its Charlotte-based software development team into a larger office within Ballantyne Corporate Park. The company’s new space at 13900 Conlan Circle measures out at nearly 2,600 square feet, nearly doubling its footprint in the south Charlotte, North Carolina, master-planned community of Ballantyne. Headquartered in New York City, Abacus has had an office in Charlotte’s Ballantyne development since 2015, taking advantage of the 2,000-acre mixed-use community’s many retail and recreational amenities.
“Abacus Group’s expansion is a testament to their impressive growth and commitment to the Charlotte market, and we are excited to accommodate their growth in Ballantyne,” said Rett Turner, director, Northwood Office, which operates Ballantyne.
The majority of Abacus’s Charlotte team consists of software developers who work on the company’s proprietary client portal software, which consists of a suite of compliance tools designed and developed in-house at Abacus to provide its clients with complete transparency and control over their technology hosted on the Abacus cloud platform. Self-service portal access gives Abacus clients visibility into their managed services via a library of important documents, reports and interfaces geared towards helping investment firms achieve compliance and regulatory oversight. The software also includes an internal side for Abacus employees to centrally manage all components of a client’s hosted IT services.
“We’ve been very impressed with the outstanding tech talent in the Charlotte area, and being located within the Ballantyne development with convenient access to so many amenities has allowed us to recruit the best of the best,” said Christopher Steele, managing director – software services at Abacus Group. “Our commitment to expanding the Charlotte office is indicative of our plans for future growth and allows us to add to our team of software developers as part of our continued investment in the Abacus Client Portal.”
Over the last 10 years, Abacus has become known as a leader in its industry, specializing in providing hosted IT solutions for hedge funds, private equity firms and family offices. So far in 2018, Abacus reports 20% growth in revenue (year-over-year), a 23% increase in number of end-users on its flagship IT-as-a-Service product, AbacusFLEX™, and a 28% increase in number of client firms on its cloud platform.
Founded in San Francisco in 2008, Abacus Group has grown into a global IT services firm, with seven offices across the U.S. and a Europe division based in London (UK). The company is currently doubling the size of its New York headquarters in midtown Manhattan and, earlier this year, it completed an expansion of its London office.
Abacus continuously receives industry recognition, including recently winning “Best Tech Infrastructure Provider” and “Best Use of Cloud Technology” categories at the 2018 HFM US Hedge Fund Services Awards. The company ranked on the 2018 Inc 5000 list of America’s fastest-growing private companies, with three-year revenue growth of 90 percent, and was ranked #1 on Crain’s Best Places to Work in New York City list in 2014.
About Abacus Group
Abacus Group, LLC is a leading provider of hosted IT solutions and service focused on helping alternative investment firms by providing an enterprise technology platform specifically designed for the unique needs of the financial services industry. The innovative and award-winning Abacus Cloud platform allows investment managers to source all technology needs as a service, offering the capacity to scale on demand to meet current and future cybersecurity, storage and compliance requirements. The company has offices in New York, NY; San Francisco, CA; Boston, MA; Dallas, TX; Greenwich, CT; Los Angeles, CA; Charlotte, NC; and London, England. For more information, visit www.abacusgroupllc.com.
Recognized nationally as one of the most successfully designed and executed mixed-use communities, Ballantyne is a 2,000-acre community in Charlotte, North Carolina. Ballantyne features thousands of apartments, over 1,000 single family homes, nearly 600 hotel rooms, 16 miles of walking trails and bike paths and parks, as well as dozens of restaurants, medical and retail amenities. With a laser-sharp focus on providing the nation’s most desirable work-life balance community, Ballantyne features more than four million square feet of Class A office space and is zoned for six million square feet of office space with additional entitlements in place. Ballantyne’s vibrant community offers plenty of ways to get engaged, including opportunities such as group fitness events, lunch seminars, charitable drives, social hours, tenant golf leagues and more at goBallantyne.com. Current corporate clients include Wells Fargo, Liberty Mutual, Premier, TIAA, Synchrony Financial, Sonic Automotive and Siemens, among others. For more information, visit ballantynecorporate.com.
About Northwood Office
Northwood Office was established by Northwood Investors LLC – a privately-held, global real estate investment and management firm – to provide a complete approach to fulfilling office space needs. Offering best-in-class services in commercial development, leasing and property management, Northwood Office is committed to creating and sustaining work environments that inspire by focusing on enhancing quality, productivity, flexibility and community. For more information, visit northwoodoffice.com.
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