Key Takeaways
- • HighVista Strategies LLC completed its acquisition of the U.S. private markets business of abrdn Inc., the U.S. subsidiary of abrdn plc, bringing the firm to approximately $9 billion in client assets.
- • The deal adds U.S. private equity and venture capital assets along with their investment and operational teams to HighVista's platform; terms were not disclosed.
- • HighVista's venture capital strategy will be run by Kirsten Morin and Peter Mooradian, former co-heads of abrdn's global venture capital investments, with Peter Lawrence moving to a Senior Advisor role.
- • The former abrdn U.S. private equity team, including John Dickie, Scott Reed, Whit Matthews, Rob Nagle and Ryan Tiffany, will manage HighVista's U.S. private equity strategy.
- • According to André Perold, CIO and co-founder, the addition strengthens HighVista's lower middle-market private equity and venture capital capabilities.
Summary
Boston-based HighVista Strategies LLC, an employee-owned alternative asset manager founded in 2004, has completed its acquisition of the U.S. private markets business of abrdn Inc., according to a Business Wire announcement dated October 3, 2023. The transaction covers abrdn's U.S. private equity and venture capital assets as well as the associated investment and operational teams. Following the deal, HighVista manages approximately $9 billion of client assets. The companies did not disclose the terms of the transaction.
André Perold, CIO, co-founder and partner at HighVista, said the company has a "singular focus on specialized alternative investments in less efficient markets" and described the private equity and venture capital teams as strategic additions that further differentiate the firm's investment capabilities.
Under the new structure, Kirsten Morin and Peter Mooradian, previously co-heads of abrdn's global venture capital investments, will manage HighVista's venture capital strategy. Industry veteran Peter Lawrence will move into a Senior Advisor role. The former abrdn U.S. private equity team, comprising John Dickie, Scott Reed, Whit Matthews, Rob Nagle and Ryan Tiffany, will run the U.S. private equity strategy.
HighVista describes its strategies as spanning opportunistic private credit, lower middle-market private equity, early-stage venture capital, biotechnology equities, hedged public markets and multi-strategy alternatives. The announcement follows the initial deal disclosure, and biographies for the incoming executives are available on the company's website.
André Perold, CIO, co-founder and partner at HighVista, said the company has a "singular focus on specialized alternative investments in less efficient markets" and described the private equity and venture capital teams as strategic additions that further differentiate the firm's investment capabilities.
Under the new structure, Kirsten Morin and Peter Mooradian, previously co-heads of abrdn's global venture capital investments, will manage HighVista's venture capital strategy. Industry veteran Peter Lawrence will move into a Senior Advisor role. The former abrdn U.S. private equity team, comprising John Dickie, Scott Reed, Whit Matthews, Rob Nagle and Ryan Tiffany, will run the U.S. private equity strategy.
HighVista describes its strategies as spanning opportunistic private credit, lower middle-market private equity, early-stage venture capital, biotechnology equities, hedged public markets and multi-strategy alternatives. The announcement follows the initial deal disclosure, and biographies for the incoming executives are available on the company's website.
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