Apollo Moves to Start a Private Credit ETF With State Street
- Firms say new fund will invest in liquid and private credit
- The vehicle would be Apollo’s first-ever exchange-traded fund
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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.