10.03.24

Wall Street Races To Bring Private Credit to the Masses

by: Matt Wirz

Asset managers like BlackRock and State Street are racing to launch exchange-traded funds (ETFs) and other retail products based on private credit. The toughest problem is how to turn rarely traded portfolios of private loans into shares of funds that individuals can trade at will. Some of the largest mutual fund managers are teaming up with their counterparts in the private credit sector. Capital Group announced in May a partnership with KKR to launch funds that invest in a mix of public and private assets, including private debt. State Street, meanwhile, is seeking approval from the U.S. Securities and Exchange Commission for a private-credit ETF co-branded with Apollo Global Management.

Read the full article on The Wall Street Journal