The World’s First Private Credit ETF, Backed by State Street & Apollo Global Management, Inc. Officially Begins Trading

Private Credit

The World’s First Private Credit ETF, Backed by State Street & Apollo Global Management, Inc. Officially Begins Trading

The World’s First Private Credit ETF, Backed by State Street & Apollo Global Management, Inc. Officially Begins Trading 🤯 

$4.1 trillion asset manager State Street and alternative investment giant Apollo ($616 billion AUM) have officially launched their highly anticipated private credit ETF.

'SPDR SSGA Apollo IG Public & Private Credit ETF (PRIV)' began trading yesterday on the NYSE with an expense ratio of 0.7% and $50m AUM.

This groundbreaking ETF is the first of its kind, providing retail investors with direct and transparent access to a diversified portfolio of private credit assets.

Private Credit is one of the fastest-growing asset classes on Wall Street.

PRIV is an actively managed fund primarily allocating to investment-grade debt securities, including both public and private credit instruments.

According to the filing, the ETF may invest in private credit instruments sourced by Apollo.

Typically, the SEC limits ETFs to holding 15% of their assets in illiquid securities. However, PRIV may allocate up to 35%.

The indexation of private markets has begun but liquidity remains the biggest question.

Historic.