Apollo Global Management and State Street are combining forces to launch an exchange traded fund that invests in both public and private credit, in the latest effort by large investment firms to sell alternative assets to retail investors to fuel their next leg of growth.
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Apollo and State Street join forces on public-private credit fund
“Private assets are one of the fastest growing sectors of the financial industry . . . This relationship combines the strengths of two market leaders to allow even more investors to participate,” said Ron O’Hanley, chief executive of State Street, which pioneered the ETF with an S&P 500 fund in the 1990s.
