04:51 PM EDT, 07/18/2024 (MT Newswires) -- Abacus Life ( ABL ) unveiled a definitive agreement late Thursday to acquire Carlisle Management for about $200 million, expanding its global asset management business.

The company said Carlisle has about $2 billion in assets under management.

The transaction is subject to regulatory approval.

Abacus shares surged 13% in after-hours activity.