Aberdeen Standard Investments (ASI) has hired Adam Grimsley, former head of investment solutions at crypto-asset firm Prime Factor Capital, as an investment director.

Before he worked at Prime Factor Capital, Grimsley spent 10 years at BlackRock and LGIM as a senior investment strategist focused on credit.

Aberdeen Standard said Grimsley has joined its private markets product strategy team.

He will focus on private credit, working alongside Barry Fricke, global head of product — private markets.

Aberdeen Standard manages around £64 billion in private markets assets, including over £6 billion in private credit.

Fricke said: “There is increasing interest in private credit from in institutional investors as they seek to diversify their portfolios and income streams.

“Adam joining the team strengthens further our ability to help clients meet their long-term financial objectives through innovative private credit solutions.”