ERES: The Longevity Data Play Is Gaining Traction as Private Credit Stumbles
ERES (Abacus Global Management) delivered a Q2 2026 earnings call that was equal parts vision and contrast. The company is building what it calls “lifespan-linked finance” — a platform that uses medical, genetic, and biometric data to personalize retirement planning. The core thesis rests on the $124 trillion wealth transfer from baby boomers, and the company argues that every financial plan today guesses at lifespan instead of knowing it. As CEO Jay Jackson put it: “The opportunity is to replace that guess with a personalized lifespan, and that is exactly what LifeARC does” — Jay Jackson · 2026-08-06. This is not a crypto pivot or a thematic sideline; it is a fully articulated strategy to own the data and distribution rails around longevity.
Financial Execution: Steady Growth, New Products
The quarter itself was solid. Revenue grew 30% year-over-year to $73 million, with Life Solutions up 38.3% to $65.4 million. Adjusted net income came in at $27.1 million, beating the guided range, and adjusted EBITDA was $40 million at a 55% margin. The company also hit key operational metrics: $197.9 million of capital deployed (up 62% YoY), an average realized gain on policy sales of 25%, and a portfolio turnover of 2x — at the top of its long-term target. CFO Bill McCauley emphasized the quality of these numbers in his prepared remarks: “Abacus grew revenue by 30% over last year to $73 million… Our growth was driven by Life Solutions, which grew 38.3% to $65.4 million year-over-year.” — William McCauley · 2026-08-06
Perhaps more important than the quarterly numbers is the product roadmap. The company received SEC effectiveness for the Interval Fund (ABXGX), the first registered interval fund dedicated to the longevity asset class. This is a structural expansion of the distribution — it opens the asset class to individual investors and RIA firms. CEO Jay Jackson said the fund is generating interest from “very large distribution firms” and even pension funds that already use the mortality verification service. The company is also exploring asset tokenization for in-force policies, which it frames as financial infrastructure rather than crypto. The origination platform remains the engine: the company reviewed over 50,000 policies year-to-date, with AI driving both lead generation and underwriting speed.
The Private-Credit Contrast
The most striking part of the call was the deliberate positioning against the stress in private credit. CIO Elena Plesco pointed to redemption activity in non-traded credit vehicles, slowing fundraising, and rating agencies scrutinizing liquidity cushions. She made the case that Abacus is insulated because its assets are mortality-linked, not credit-linked. In a market obsessed with whether marks are real, the company’s realized gains and twice-a-year turnover are a direct answer. She stated:
When the concern in the market is whether an asset can be sold at its carried value, we have a book that turns twice a year and tells us the answer in cash. And when the concern is liquidity mismatch, our interval fund is purpose-built to align investor liquidity with the underlying assets rather than promise daily liquidity against illiquid holdings.
This is a clever narrative move. Global tape history shows private credit themes as consistent decliners — the 360-day window lists “direct lending market,” “non-traded BDC,” and “private credit loans” among the biggest losers. ERES is explicitly pitching itself as the uncorrelated alternative. Even the realized gain of 25% is a proof point: “We turn our book roughly twice a year, which means these are not marks on the screen. They are realized transactions at real prices with real counterparties.”
A Compounding Story
The earnings call also outlined a path to $5 billion AUM by year-end, with the interval fund and longevity funds as primary contributors. The company is betting that its rev share model for LifeARC — currently being rolled out with Manning & Napier — will eventually drive technology revenue and deeper wealth relationships. The first-half 2026 inflows into longevity funds hit $544.2 million, surpassing the $500 million target, and technology service fees are approaching $1 million YTD, with a ramp into $3 million implied by existing contracts.
There are risks: the asset management fee line was lower due to ETF outflows, and the company is taking on more debt ($290.8 million long-term) to fund origination. But the strategic direction is clear. ERES is not just another asset manager; it is trying to become the platform for a new asset class that happens to be uncorrelated to the cycle. The market is paying attention to the private credit storm, and Abacus is positioning itself as the safer harbor — with data, turnover, and a fully registered product.
The “mission is to own the data, products and distribution rails that let advisers build portfolios around each individual's specific lifespan drivers.” — Jay Jackson · 2026-08-06 Whether that mission can scale into the $124 trillion opportunity remains to be seen, but the Q2 results show real momentum and a clear differentiation in a crowded alternatives landscape.