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Description:
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A new competition has begun to see who can successfully solve an investing paradox: how to package illiquid, private assets into liquid, public ETFs. State Street, in partnership with Apollo, officially kicked off this race with a recent filing; if approved, their offering would make one of Wall Street's fastest-growing corners — private credit — open to a much wider world than just institutional investors. On this episode of Trillions, Eric Balchunas and Joel Weber speak with Vildana Hajric, a cross-asset reporter at Bloomberg News, about the details of the filing, why more filings are expected, what to know about Apollo's "liquidity backstop" and why all of this is such a potential game-changer. See omnystudio.com/listener for privacy information. |