Abacus Finance Launches as a Specialty Finance Company

Focus Will Be on Lower Middle-Market Cash Flow Financing for Private Equity-Sponsored CompaniesNEW YORK, NY, June 20, 2011 – New York Private Bank & Trust (NYPB&T) and its subsidiary Emigrant Bank are pleased to announce the formation of Abacus Finance Group, LLC (Abacus), a specialty finance company focusing on cash flow financing for lower middle-market companies sponsored by private equity firms.  Timothy G. Clifford, the founder and former Head of Amalgamated Capital, has been appointed President and CEO of Abacus. Prior to founding Amalgamated Capital, Mr. Clifford was a Managing