Abacus Group LLC, a leading provider of hosted IT solutions for hedge funds and private equity funds, today announced that it has increased its U.S. presence and capabilities by opening a new office in Boston, which will provide support for its growing client base and the industry’s ever increasing demand for the AbacusFlex private cloud solution.
Abacus’s entry into the market was spurred by being selected by Boston based clients to provide a scalable, flexible and robust technology solution that also adheres to the latest regulatory compliance and security requirements.
"The financial services industry in the Boston area is significant, and both established and up-and-coming startup funds from across the region are demanding greater access to our managed cloud and hosted IT services,” said Jason Elmer, Director of Business Development for Abacus Group. ”We see an opportunity to address this underserved market while continuing to build our market presence across the U.S.”
Abacus has shown significant growth in 2015, with over 50% year over year annual growth and 63 client wins in 2015, opening new offices across the U.S. to meet customer demand including Los Angeles, Dallas, and most recently Charlotte, North Carolina. The company is also set to extend their current office facilities in Greenwich, Connecticut as part of the current expansion.
"We are very pleased to have chosen Abacus as our private cloud provider,” said John A. Ritacco, Jr., CFO/CCO Frontlight Capital. “Their experience providing services to the financial services sector is a clear strength, and the team has delivered both in terms of expertise and client service."