![]() “We showed consistent interest in this business even in the face of more challenging market conditions and there was a strong cultural fit between the two firms. “We might have had a tough time winning the deal in the go-go years but in this environment there was much higher market uncertainty and volatility, and that may have benefited us,” Schorr said. By comparing RSI’s EV/Sales multiple to that of competitors, Rush Street Interactive fair value ranges for the RSI stock price from 22.2 to 30.55. This usually means that the stock has never paid a dividend. “A minority of them lend to investment managers but we were able to find a few that would,” he added, referring to direct lenders that are willing to finance money managers’ deals. There is no dividend history available for Rush Street Interactive. With banks that would have financed the deal pulling back or out of business, HighVista tapped private credit to help arrange financing, according to Schorr. Calendar RSI US7820111000 RUSH STREET INTERACTIVE, INC. One of those institutions - Silicon Valley Bank - was an important lender in the venture community and its failure contributed to a shock wave through venture companies valuations. The deal negotiations survived the failure of three US banks and rise in interest rates to combat inflation. “It was just our luck that abrdn decided to leave this market.” “A year ago there was an article that leaked that abrdn was selling the business so we contacted the bankers and expressed interest,” Schorr said in a telephone interview. Terms of the transaction, expected to close later this year, were not disclosed.īoston-based HighVista, which already has a private equity business, wanted to bolster its capabilities with a dedicated team that adds additional investment offerings and to compliment its opportunity sourcing efforts, according to Raphael Schorr, deputy chief investment officer at HighVista Strategies. ![]() ![]() shareholders, with the stock dropping 11 to US3.74 in the week since its latest quarterly results.Revenues of US148m came in 5.8. The purchase of abrdn’s US private equity and venture capital unit, abrdn Inc., nearly doubles HighVista’s assets under management to $9 billion, according to a press release. Its been a mediocre week for Rush Street Interactive, Inc. (Bloomberg) - Alternative money manager HighVista Strategies LLC, said it’s buying the private markets subsidiary of one of Scotland’s largest asset managers abrdn plc. Analysts do not give Apple stock price predictions for 2025, but Morgan Stanley said they expect revenue to grow by 6.07.9 over the next three years to 448.1bn by fiscal year-end 2024, up from 365.8bn in the company’s latest earnings from October, according to a report provided to. ![]()
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