State Street Expands Private Credit Reach With New IG ABS ETF

State Street Investment Management has launched the State Street IG Public & Private ABS ETF (PRAB), an active ETF designed to provide institutional-grade access to asset-backed securities. This new ETF expands State Street’s private credit offerings, building on the success of its existing public-private ETFs which have garnered significant assets. PRAB aims to diversify core bond allocations by including public and private ABS, leveraging a partnership with Apollo Global Securities for private credit market access.