Abacus Group LLC, a leading provider of hosted IT solutions for hedge funds and private equity funds, today announced that propelled by demand for its AbacusFLEX private cloud solution, as well as growth and increased interest in managed services and hosted solutions, it has opened a new office in Los Angeles.
The company achieved a record year in 2014, winning 60 new clients, and sees continued momentum in 2015.
The increased demand for Abacus Group's private cloud solution is due to a significant interest in managed services and hosted solutions from the financial services industry with both established financial institutions and up-and-coming startup funds. These clients have selected Abacus Group to achieve a scalable, flexible and robust technology solution that also adheres to the latest regulatory compliance requirements.
"We have seen an increasing number of hedge funds and private equity funds look to leverage the value of private cloud-based technology as a way to differentiate their offerings with greater innovation, security and efficiency," said Brian Sigmond, Director of Business Development and Client Technical Services, Abacus Group. "In a vibrant startup market, we have been working with several West Coast clients that understand the scalability and cost-efficiency of the private cloud model. We expect continued interest in the region. We are staffing the office accordingly to support the anticipated growth."