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Last month at the Exchange conference in Las Vegas, Anna Paglia, State Street Investment Management's chief business officer, discussed how the firm's private credit lineup came to be and how the firm sets about developing some of its products.
With market conditions continuing to shift, advisors are still looking to find potent core fixed income approaches for their client portfolios.
State Street Investment Management is continuing its push into the intersection of public and private credit with the launch of a new ETF. The firm announced today the launch of the State Street IG Public & Private ABS ETF (PRAB).
Private markets were historically for institutional and ultra-high-net-worth investors. Today, that exclusivity is breaking down, as many retail investors realize the value behind private markets and advisors look for additional diversification tools.
After years of researching equities, my research has started trending toward alternatives — including crypto, commodities, and private markets. It is not that equities have gone out of favor.
Private credit isn't necessarily new to retail investors. In fact, closed-end funds (CEFs) and business development companies (BDCs) have been giving everyday investors access to private loans and middle-market financing for years (see my previous note here).
SEC filings for PRSD aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.