State Street Files for Second Private-Debt ETF as First Fund Stalls

State Street Corp. is set to double down on its bid to bring private assets to a broader spectrum of investors, even as its initial ETF experiment in this area has struggled to gain momentum.

The fund giant plans to introduce its second exchange-traded fund that tracks private debt with the help of Apollo Global Management Inc. According to an SEC filing dated May 23, the SPDR SSGA Short Duration IG Public & Private Credit ETF will invest in both public credit and “private credit investments including, but not limited to, those sourced by Apollo.”