# Abacus Global Management Publicly-traded life settlement firm (NASDAQ: ABL), headquartered at 2101 Park Center Drive #250, Orlando, FL 32835. Abacus is in the business of purchasing existing life insurance policies on the secondary market from policyholders who no longer need or want them, holding the policies, and paying the death benefit when the insured passes. The firm's marketing tagline is "Proof Abacus Pays the Most." Abacus is documented in this batch as one of two distinct investment products pitched to Auditor of State Dennis Milligan and Chief Deputy Auditor Jason Brady through the SFOF networking circuit. Rob Phillips, Abacus SVP Investor Relations and Corporate Affairs, emailed Milligan and Brady on 4/28/2025 5:56 PM with subject "Thank you + SFOF follow up." The date positions the contact as a follow-up to the SFOF Spring National Meeting (4/22-24/2025, Omni Orlando ChampionsGate). The body of the email confirms two facts: Phillips, Milligan, and Brady met "last week" (i.e., during the SFOF Spring meeting week), and Milligan and Brady had expressed "interest in Abacus as an investment for Arkansas' pension funds." The framing characterizes Milligan and Brady as having affirmatively considered Abacus as a candidate for Arkansas pension placement. The Auditor's office is therefore documented as an investment-recommendation channel for at least two distinct private placements pitched through SFOF connections: DCI Israel Bonds (which reached the ATRS Resolution 2025-22 Board action stage and the APERS Investment Committee approval) and Abacus life settlements (whose disposition is not documented in the available batches). Life settlements are an unusual asset class for state pension funds. The investment thesis depends on accurately estimating life expectancies, the difference between the purchase price of the policy and the eventual death benefit, premium-payment obligations over the holding period, and the credit quality of the issuing insurer. The Arkansas Teacher Retirement System Board Policy 4 governs ATRS asset categories. Whether life settlements would fit within BP4's authorized asset allocation framework is not addressed in the available batches. ## Pre-existing vendor relationship through ABL Tech The Abacus Global Management investment pitch to the Auditor's office is not the corporate family's first engagement with the Arkansas pension systems. ABL Tech (the same NASDAQ-ticker-name corporate affiliate at the same 2101 Park Center Drive Orlando address) is documented as an existing vendor to both APERS and ATRS for mortality verification services. JC Oviedo, ABL Tech Director of Sales and Operations, emailed Milligan on 5/2/2025 following from in-person SFOF Spring National Meeting contact: "We're proud to be supporting both the Arkansas Public Employees Retirement System and the Arkansas Teacher Retirement System in their efforts to prevent overpayments and fraud through accurate mortality verification." See [[abl-tech]] and [[jc-oviedo]]. The Abacus corporate family therefore has both an active investment-product pitch and a pre-existing services-vendor relationship with the Arkansas pension systems simultaneously. The SFOF Spring National Meeting in Orlando served as the relationship venue for both engagements within the same week of contact. Oviedo's 5/2 follow-up and Phillips's 4/28 follow-up were sent four days apart, both to the same Auditor's-office contacts, both referencing SFOF as the meeting context. Whether the vendor relationship informed the investment pitch — or whether the investment pitch leveraged the vendor relationship — is not documented in the available batches, but the temporal and venue overlap is direct evidence. ## What the materials do not establish Whether Abacus was actually proposed to either ATRS or APERS Boards as an investment, whether further meetings occurred after the 4/28 follow-up, whether Jay Jackson (the To-line addressee, likely Abacus founder and CEO) and David Jackson (the Cc-line addressee) had subsequent contact with Arkansas pension systems, and whether the "investment teams" Phillips referenced were Abacus's or the pension systems' teams, are all open questions. ## Evidence > "From: Rob Phillips. Sent on: Monday, April 28, 2025 5:56:00 PM. To: Dennis Milligan; Jason Brady; Jay Jackson. CC: David Jackson. Subject: Thank you + SFOF follow up." > Email header, Thank you + SFOF follow up.pdf p.1, 4/28/2025 > "Dennis / Jason – Great to catch up last week. Thank you again for your partnership, and for taking the time to meet with Jay. Thank you also for your interest in Abacus as an investment for Arkansas' pension funds. We look forward to getting together again to continue this conversation, and would be thrilled to schedule a call with the investment teams in the meantime." > Rob Phillips to Dennis Milligan, Jason Brady, Jay Jackson, Thank you + SFOF follow up.pdf p.1, 4/28/2025 > "ABACUS GLOBAL MANAGEMENT, INC. NASDAQ | ABL" > Rob Phillips email signature block, Thank you + SFOF follow up.pdf p.1 > "Proof Abacus Pays the Most | Try the Life Settlement Calculator" > Rob Phillips email signature footer, Thank you + SFOF follow up.pdf p.1 ## Cross-References [[rob-phillips]] Abacus SVP and the email correspondent [[abl-tech]] corporate affiliate and existing Arkansas pension systems vendor [[jc-oviedo]] ABL Tech sales contact who parallel-followed-up after SFOF [[dennis-milligan]] [[jason-brady]] Auditor's-office recipients of the SFOF follow-up pitch [[sfof-policy-letter-operation]] companion concept page on the SFOF Spring National Meeting and the network's broader investment-introduction function [[auditor-as-dci-channel]] companion concept page on the parallel DCI Israel Bonds investment-pitch channel [[auditor-foia-r2-milligan]] source page