By Suzanne McGee
NEW YORK (Reuters) – State Street Global Advisors said its much-anticipated private credit exchange-traded fund, developed in conjunction with alternatives investment firm Apollo Global Management, began trading on Thursday morning.
The firm announced its partnership with Apollo and plans for the SPDR SSGA Apollo IG Public & Private Credit ETF last September. The actively managed ETF will hold up to 35% of its portfolio in private securities but will limit holdings in illiquid investments to 15% of total assets, according to the prospectus.
Apollo couldn’t be immediately reached for comment.
(Reporting by Suzanne McGee)
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