NEW YORK, July 24, 2023 – Proskauer, a leading international law firm, announced today that it advised global asset manager abrdn Inc. (“abrdn”) in its definitive agreement to sell its U.S. private equity and venture capital businesses, including the investment and operational teams, to HighVista Strategies, LLC (“HighVista”). Under the agreement, HighVista is anticipated to add $4 billion of assets under management and 30 employees to its platform.
Through the acquisition, abrdn’s co-heads of global venture capital investments will continue to manage the global venture capital strategy and abrdn’s senior U.S. private equity team will continue to manage the U.S. private equity strategy.
The Proskauer team was led by partners Steven Peck and Grant Darwin (Mergers & Acquisitions); partners David Tegeler, Michael Suppappola and Kerry Shriver (Private Funds); partners Janicelynn Park and Jamiel Poindexter (Tax); partner Seth Safra (Employee Benefits and Executive Compensation); and partner Jin Joo (Finance). The team also included associates Taylor Robertson and Tiffany Mallakis (Mergers & Acquisitions); associate Rachel McKie (Private Funds); associate Erik Hays (Employee Benefits and Executive Compensation); associate Carolyn Killea (Finance); and law clerk Carrie Slaton (Tax).
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