The Small Business Investor Alliance (“SBIA”) announced the appointment of Seth Friedman, Managing Director of Abacus Finance Group to its Board of Governors. Friedman will serve as the Northeast Regional Chair, representing the interests of small business investment companies throughout the region.

"I'm honored to serve as the Northeast Regional Chair and to help advance SBIA's mission of strengthening small business investment across the United States," said Friedman, who brings more than 25 years of dedicated experience supporting U.S. small businesses through leveraged finance and investment banking in the lower middle market. Having joined Abacus Finance in 2019 as a Managing Director, he currently leads capital formation efforts and serves as an Investment Committee Member of the firm's SBIC fund.

Throughout his distinguished career, Friedman has held senior positions at GB Capital, RLJ Credit Management, and co-founded Perseus Finance. He previously worked at MetLife Investments, Brown Brothers Harriman's 1818 SBIC Fund, Mesirow Financial, and LaSalle Bank. Friedman earned a Bachelor of Science degree from the University of Wisconsin.

In October, Abacus Finance Group announced the successful final closing of its SBIC Fund I at $262.5 million, achieving its hard cap. This milestone underscores Abacus Finance's continued commitment to supporting small businesses across the United States.

The SBIA represents Small Business Investment Companies (SBICs) licensed by the U.S. Small Business Administration, which provide critical growth capital to American small businesses.