Finance
Fidelity Halts European Direct Lending Activities, Lets Team Members Go
- Firm is expected to support its CLO and real estate divisions
- Fidelity launched its first direct lending fund in October
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Fidelity International has halted its European direct lending activities and let go members of its private markets team, according to a spokesperson for the firm.
The investing giant, which had $817 billion in assets under management as of March 31, has decided to wind down its private credit operations after Andrew McCaffery, the firm’s co-chief investment officer for fixed income, multi asset and private assets, stepped down.