CashNews.co
Apollo Global Management Inc. is focusing its new private-credit trading desk on investment-grade debt it has originated as the firm rolls out plans to bundle it into exchange-traded funds, according to people with knowledge of the matter.
The refined scope of the firm’s operation would help traders to establish a market price for the debt, which would be crucial to the ETF push. Apollo has taken steps toward launching its first such fund under an effort with State Street Corp.