Andrew McCaffery has been recruiting up a storm over the past 12 months.

It’s part of Fidelity International’s drive to bolster its private assets expertise — a big growth area for asset managers and one that PwC estimates will swell to as much as $15tn by 2025. The $768bn asset manager has added 70 people since it set up a new business division last year to launch a range of loan and private credit strategies.