State Street IG Public & Private Credit ETF
PRIV
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- One Iron Street Boston MA United States of America 02210
- IPO Date
- Feb 27, 2025
- CIK
- 0001516212
- Website
- ssga.com
- Similar Companies
- Business
- SPDR SSGA Apollo IG Public & Private Credit ETF (PRIV) is an actively managed exchange-traded fund that primarily invests in investment-grade debt securities, including a blend of public credit instruments such as U.S. Treasurys, corporate bonds, securitized loans, agency and non-agency residential and commercial mortgage-backed securities (RMBS and CMBS), asset-backed securities (ABS), collateralized debt obligations (CDOs), collateralized loan obligations (CLOs), preferred stock, bank loans, and foreign and emerging markets debt securities; as well as private credit instruments, primarily asset-backed and corporate finance securities sourced from Apollo Global Securities LLC, which typically comprise 10-35% of the portfolio though this allocation may vary. The fund employs a risk-aware macroeconomic top-down approach combined with bottom-up security selection by the State Street Global Advisors Active Fixed Income Team to overweight attractive sectors and issuers, seeking to maximize risk-adjusted returns and current income with flexibility to hold up to 20% in high-yield securities; its portfolio features approximately 144-156 holdings, with key asset allocations including corporate bonds (38%), mortgage-backed securities (22%), asset-backed securities (18%), sovereign debt (13%), and cash/other (9%). Launched on February 26, 2025, and listed on NYSE Arca, PRIV is issued by SSGA Active Trust and managed by State Street Global Advisors, headquartered in Boston, Massachusetts, as part of the State Street Corporation family with no disclosed subsidiaries or parent relationships for the fund itself. In a major strategic development, the fund established a contractual liquidity support agreement with Apollo Global Securities LLC, obligating Apollo to provide daily firm bids and repurchase private credit investments (AOS Investments) at specified prices to enable up to 35% allocation to private assets, bypassing traditional SEC illiquid holding limits and enhancing retail investor access to private credit markets previously dominated by institutions. The launch drew SEC scrutiny shortly after inception on February 27, 2025, regarding valuation transparency, liquidity risks, and potential pricing distortions in the private credit structure, though no confirmed name changes, funding rounds, acquisitions, or operational reorganizations have been reported as of late 2025; the fund maintains a gross/net expense ratio of 0.70% and targets investors seeking enhanced income, diversification, and exposure to a potential $30-40 trillion addressable private credit market including asset-based finance across real estate, aviation, consumer receivables, and more.