$APO (-11,14%) and $STT (-7,02%) have launched the SPDR SSGA Apollo IG Public & Private Credit ETF ($US78470P6227 ). The ETF invests at least 80% of its portfolio in investment grade bonds, including public and private credit, and may hold up to 35% in private securities.
- 0.70% management fee
- Apollo provides liquidity through repurchases of private credit, but with daily limits
- The SEC allows up to 35% illiquid investments instead of the usual 15%
https://www.ssga.com/us/en/intermediary/etfs/spdr-ssga-apollo-ig-public-private-credit-etf-priv