State Street stole a lead on rivals with new ETF, but SEC is concerned
But in a letter to State Street after the fund launched, SEC associate director Brent J. Fields expresses concern about the fund’s liquidity, name (“the use of Apollo in the fund’s name is misleading”), and its ability to comply with valuation rules.
US flags concerns with State Street and Apollo private credit ETF
State Street, one of the largest ETF issuers in the US, is sponsoring the fund, while Apollo will source private credit investments for the product. Apollo has also inked an agreement to shore up liquidity on the private credit side of the fund’s portfolio, which also includes public debt.
State Street-Apollo private credit ETF raises SEC concern
The letter came after the ETF officially launched on Feb. 27, debuting on the New York Stock Exchange under the ticker “PRIV.” It’s a swift response to an ETF that brings together the very private world of direct lending and a more democratic market for trading.
There's a new ETF in town. SPDR SSGA Apollo IG Public & Private Credit ETF (PRIV) will trade Thursday at the NYSE. This fund ...
Even the most advanced financial engineering may not be able to solve the almost immutable laws of financial markets ...
EFT PRIV by State Street & Apollo offers steady returns & income, allocating 80% to investment-grade debt & 20% to high-yield bonds. SEC raises concerns.
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Democratizing Private Assets: Trailblazing ETF LaunchesPrivate asset investing is no longer limited to the ultra-wealthy. ETFs are opening the world of private assets to retail ...
State Street (NYSE:STT) rolled out an exchange-traded fund investing in investment-grade private credit, including ...
A novel private-credit ETF from State Street Corp. and Apollo Global Management Inc. started trading on Thursday, in a ...
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