Apollo Partners with State Street to Launch Private Credit ETF

According to Bloomberg: Apollo Global Management Inc. is making its debut in the exchange-traded fund (ETF) space, collaborating with State Street Corp. to introduce a fund that includes private credit investments. This marks Apollo's first ETF, expanding access to private credit for retail investors.The SPDR SSGA Apollo IG Public & Private Credit ETF was registered by State Street, with a portion dedicated to liquid credit and another managed by Apollo for private credit investments. This collaboration positions Apollo alongside major players like BlackRock and Invesco in making private assets more accessible to individual investors.Apollo CEO Marc Rowan previously announced plans to grow the company's asset origination business, aiming to bring private credit to retail markets. Traditionally, private credit has been available to institutional investors like insurance firms and sovereign wealth funds, but firms are increasingly opening this asset class to a broader audience.The fund is pending regulatory approval.