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US flags concerns with State Street and Apollo private credit ETF

State Street Global Advisors and Apollo Global Management launched the SPDR SSGA Apollo IG Public & Private Credit ETF on February 27, aimed at blending private credit and public markets to attract investors.
The ETF aims to provide investors with risk-adjusted returns and a net expense ratio of 70 basis points by investing at least 80% of its net assets in investment-grade debt.
The U.S. Securities and Exchange Commission raised concerns about the ETF's liquidity and transparency, flagging issues with heavily redacted details in an agreement.
State Street acknowledged the SEC's concerns and will cap illiquid investments at 15%, while private credit exposure remains between 10% and 35%.

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Benzinga

New ETF PRIV Bridges Private And Public Credit, Draws Investor Interest And SEC Concerns - SSGA Active Trust SPDR SSGA Apollo IG Public & Private Credit ETF (ARCA:PRIV)

State Street Global Advisors and Apollo Global Management have made headlines with the launch of their private credit ETF, the SPDR SSGA Apollo IG Public & Private Credit ETF (NYSE:PRIV). This ETF, which began trading on Feb. 27, marks a significant development in the convergence of private credit and public markets. PRIV is designed to offer investors risk-adjusted returns and steady income, with a net expense ratio of 70 basis points. The fund…

3 days ago·New York, United States

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The Economist

How cheap can investing get?

THE BATTLE between the world’s two largest exchange-traded funds has reached a pivotal moment. On February 18 VOO, an ETF tracking the S&P 500 that is managed by Vanguard, a giant passive-investing firm, took the crown as the world’s largest. Days later SPY, an ETF managed by State Street Global Advisors, another giant, reclaimed it. Both funds boast assets of over US$620 billion.

3 days ago·London, United Kingdom

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Financial Times

US flags concerns with State Street and Apollo private credit ETF

SEC questions how fund will maintain liquidity and value debt as product begins trading

3 days ago·London, United Kingdom

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Deadline

Paramount Re-Ups First-Look Deal With ‘Bob Marley: One Love’ Producer State Street Pictures

EXCLUSIVE: Paramount Pictures has renewed its first-look feature film deal with George L. Tillman Jr. and Robert Teitel’s State Street Pictures. The Bob Marley: One Love production company first inked a production pact with the studio in 2020. Tillman and Teitel’s film credits include The Hate U Give, the Barbershop franchise, Men of Honor, Soul Food and Notorious among others. State Street Pictures’ executive suite also includes […]

4 days ago·Los Angeles, United States

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