CashNews.co
The first two exchange-traded funds to hold private credit loans began trading on the same day, with issuers racing to tap into one of the investing world’s hottest trends.
The BondBloxx Private Credit CLO ETF (ticker PCMM) and the Virtus SEIX AAA Private Credit CLO ETF (PCLO) launched on Tuesday. The actively managed funds will invest at least 80% of their assets in collateralized loan obligations backed by a pool of loans made to private companies, according to filings.