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Laxman Pai, Opalesque Asia:

HighVista Strategies, an alternative asset manager investing in private and public markets, agreed to acquire abrdn's U.S. private markets business, with about $4 billion in private equity and venture capital assets moving to the alternative asset manager.

According to a joint press release, this strategic acquisition will increase HighVista's assets under management to approximately $9 billion. Terms of the transaction, expected to close later this year, were not disclosed.

Based in Boston, HighVista, which has $4.8bn AUM, has a singular focus on specialized alternative investments in less efficient markets, investing globally on behalf of sophisticated institutions, including pensions, insurers, sovereign wealth funds, family offices, and high net worth individuals and families.

"This transaction augments HighVista's investment program with very strong capabilities in lower middle market private equity and early-stage venture capital, and it broadens the offering for clients seeking enduring alpha and meaningful diversification of portfolio return drivers," said the release.

Kirsten Morin and Peter Mooradian, co-heads of abrdn's global venture capital investments, will continue to manage the global venture capital strategy, with industry veteran 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 Tif......................

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