Aberdeen Standard plans private markets push

Edinburgh-based investment giant Aberdeen Standard Investments (ASI) indicated it is planning to increase its investments in private markets as it hired Mark Redman as its new global head of private markets.

Redman was previously global head of private equity with OMERS — one of Canada’s largest defined benefit pension plans.

Redman will succeed Peter McKellar, who is retiring at 55.

“ASI has a long track record of managing private market strategies spanning real estate, private equity, infrastructure, real assets and private credit, and we have developed a number of innovative private markets solutions,” said Aberdeen Standard.

“ASI has £55.1 billion of assets under management in private markets portfolios.”

Aberdeen Standard is the asset management business of Edinburgh-based Standard Life Aberdeen plc, which manages assets of about £545 billion.

Aberdeen Standard Investments chief investment officer Rod Paris said: “Investor demand for private market assets across the globe continues to grow and, as an asset class, is becoming more mainstream and forming a larger component of investors’ portfolios.

“Private markets is a key component of our investments landscape and it is important we build on our strong presence in this growth area.

“I am delighted that we have secured someone of Mark’s calibre to drive global growth in our franchise as we continue to deliver innovative solutions and generate performance for our clients.”

Redman said: “I’m delighted to be joining ASI to lead its private markets franchise.

“Few asset managers have the breadth and depth of ASI’s expertise across real estate, private equity, infrastructure, real assets and private credit.

“As investors increase their exposure to private markets to meet their financial objectives we are in prime position to provide single and multi-strategy solutions.

“I’m looking forward to working with the team and the broader business to continue to grow the franchise and deliver for its global client base.”