Fidelity International eyes LTAF launch as private assets co-CIO exits

Andrew McCaffery steps down

Fidelity International’s co-chief investment officer for fixed income, multi-asset and private assets Andrew McCaffery is stepping down after five years, as the firm prepares the launch of its first Long-Term Asset fund.

McCaffery joined the asset manager in 2019 as the lead for alternatives and solutions before taking on a broader global CIO position, where he has played a key role in helping to build and diversify the firm's private asset capabilities.  Prior to his time at Fidelity, he headed up abrdn's global alternatives division, including all activity in liquid alternatives, private markets and real asset investing. His departure comes as Fidelity explores plans to join Schroders, BlackRock, Aviva Investors and Fulcrum in launching a private assets LTAF for UK pension schemes.  LTAFs elude r...