State Street, Apollo Debut Private-Debt ETF in Breakthrough

What You Need To Know

• SPDR SSGA Apollo IG Public & Private Credit ETF debuted on the New York Stock Exchange under the ticker PRIV.
• The ETF appears to use an agreement with Apollo to get around the SEC's limits on "illiquid" assets.
• “This represents a seismic shift,” wrote Morningstar analyst Brian Moriarty.