State Street, Apollo team up to launch first of its kind private credit ETF

Published On Feb 27, 2025, 8:44 AM

State Street and Apollo have launched a groundbreaking ETF, the SPDR SSGA Apollo IG Public & Private Credit ETF (PRIV), which will be listed on the NYSE. This ETF aims to invest at least 80% of its assets in investment-grade debt securities, including a mix of public and private credit. The inclusion of private equity in an ETF is notable due to the liquidity challenges related to private credit investments. To tackle this, Apollo will provide credit assets and agree to repurchase them as needed. The SEC has granted a higher threshold for private credit holdings in this ETF, allowing up to 35% in some cases.