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"Historically, the ETF vehicle has been used to unlock market opportunities for all investors, no matter how big or small. Thanks to ETFs, all investors have transparent access to traditionally less-liquid segments of the markets," said Anna Paglia, chief business officer at State Street Global Advisors. "We have worked with Apollo to provide a liquidity solution within PRIV and PRIV continues the mission of democratizing access to private markets," she added.

PRIV seeks to maximize risk-adjusted returns and provide current income by investing primarily in investment grade debt securities, including a combination of public and private credit such as asset-based finance and corporate lending. PRIV uses a risk-aware, macroeconomic top-down approach combined with bottom-up security selection to construct a portfolio that seeks to overweight the most attractive sectors and issuers. PRIV may invest in private credit instruments sourced by Apollo Global Securities, LLC, an affiliate of Apollo Global Management, Inc.

Over the last decade, investment demand for private markets exposure has surged, driven by large institutional investors seeking higher yields and greater diversification potential. State Street Global Advisors expects the next wave of private market demand will include retail investors seeking exposure to this growing asset class through lower cost investment vehicles that are tradable, transparent, and provide daily liquidity.

Apollo reported more than $220 billion of origination in 20241 supported by its credit business and broader origination ecosystem spanning 16 standalone platforms. Apollo estimates the potential addressable market for private credit is a $40 trillion market.