State Street, Apollo Debut Private-Debt ETF in Big Breakthrough
- PRIV to hold around 10% to 35% in private credit overall
- Wall Street has been racing to wrap up the asset class in ETFs
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A novel private-credit ETF from State Street Corp. and Apollo Global Management Inc. started trading on Thursday, in a watershed moment for the $1.6 trillion industry.
The SPDR SSGA Apollo IG Public & Private Credit ETF debuted on the New York Stock Exchange under the ticker “PRIV.”