State Street, Apollo’s Private Credit ETF Raises SEC Concern
- Regulator questions new fund’s liquidity, valuation process
- Product started trading Thursday morning on the NYSE
This article is for subscribers only.
New for subscribers: Sign up for Going Private, Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye.
The US Securities and Exchange Commission expressed concerns over a much-anticipated private credit exchange-traded fund from Wall Street giants State Street Corp. and Apollo Global Management Inc., asking the firms for more information in a letter Thursday.