Boston-based HighVista Strategies LLC, an alternative asset manager investing in private and public markets, announced the completion of its acquisition of the US private markets business of Abrdn Inc, the US subsidiary of Abrdn plc.

On July 20, Abrdn had said it agreed to transfer the management of approximately $4 billion in assets under management and 30 employees to HighVista Strategies.

The deal includes the US private equity and venture capital assets, and the investment and operational teams.

HighVista now manages approximately $9 billion of client assets. Terms of the transaction were not disclosed.

“HighVista has a singular focus on specialized alternative investments in less efficient markets,” said André Perold, CIO, co-founder and partner at HighVista Strategies.

“The addition of the private equity and venture capital teams is strategic for HighVista and further solidifies our well-differentiated investment capabilities.”

Kirsten Morin and Peter Mooradian, previously co-heads of Abrdn’s global venture capital investments, will manage HighVista’s venture capital strategy, with industry veteran Peter Lawrence moving into the role of a senior advisor.

The former Abrdn US private equity team, including John Dickie, Scott Reed, Whit Matthews, Rob Nagle and Ryan Tiffany, will manage HighVista’s US private equity strategy.