HighVista to buy abrdn’s U.S. private markets business

• The acquisition will increase HighVista’s assets under management to about $9 billion
• The deal is expected to close later this year
• Based in Boston, HighVista is an alternative asset manager investing in private and public markets

HighVista Strategies has agreed to acquire abrdn‘s U.S. private markets business. The deal includes abrdn’s U.S. private equity and venture capital assets as well as the investment and operational teams.

The acquisition will increase HighVista’s assets under management to about $9 billion.

The deal is expected to close later this year.

Based in Boston, HighVista is an alternative asset manager investing in private and public markets.

Kirsten Morin and Peter Mooradian, co-heads of abrdn’s global venture capital investments, will continue to manage the global venture capital strategy, with Peter Lawrence assuming a senior advisor role. The senior U.S. private equity team, including John Dickie, Scott Reed, Whit Matthews, Rob Nagle and Ryan Tiffany will continue to manage the U.S. private equity strategy.

“This strategic acquisition is a significant milestone in our firm’s nearly 20-year history,” said Caroline Page, a partner at HighVista in a statement. “We are very enthusiastic about bringing this highly talented and seasoned team of private market investors aboard at HighVista to help meet the growing and evolving needs of our clients.”

PL Advisors served as financial advisor and Sidley Austin LLP served as legal advisor to HighVista Strategies LLC, while Rothschild & Co served as financial advisor and Proskauer Rose LLP served as legal advisor to abrdn in connection with the transaction.

Investment firm abrdn is headquartered in Edinburgh, Scotland.