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Apollo Moves to Start a Private Credit ETF With State Street (2)

Sept. 10, 2024, 3:01 PM UTC
Sonali Basak
Sonali Basak
Bloomberg News

Apollo Global Management Inc. is working on its first exchange-traded fund, teaming up with State Street Corp. on an offering that will include private credit investments.

State Street registered the SPDR SSGA Apollo IG Public & Private Credit ETF, according to a filing Tuesday. A portion of the fund, which requires regulatory approval, will be allocated toward liquid credit, while Apollo will seek to originate a pocket of private credit investments for the vehicle.

Apollo Global Management Inc. probably will win approval from regulators for its first ETF, according to Bloomberg Intelligence’s Eric Balchunas, as it seeks new ways to satisfy investors’ appetite for private credit. Apollo is working with State Street Corp., a well-known name in ETFs, Balchunas says on “Bloomberg Open Interest.” Source: Bloomberg

State Street joins firms such as BlackRock Inc. and Invesco Ltd. that are looking to make private assets more accessible to individual ...

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