abrdn completes sale of $4bn US private equity and venture capital business to alternatives boutique

Sold to HighVista Strategies

abrdn’s US subsidiary has completed the sale of its US private equity and venture capital capabilities to US-based alternative investment boutique HighVista Strategies.

In a statement, the firm said the sale involves the transfer of approximately $4bn in assets under management and approximately 30 employees.  The move, announced in July, follows a comprehensive review of abrdn's private markets business, which concluded that the US private equity and venture capital capabilities would be "best developed under a different ownership and management structure". abrdn said the sale underlines its commitment to exit non-core businesses that "no longer align to its overall offering or product strategy". abrdn eyes split of private equity arm to attract ...