Apollo Global Management Inc. is introducing a new trading desk for private-credit, specifically focusing on investment-grade debt that it has originated.

This is part of their strategy to create exchange-traded funds (ETFs) and establish a market price for the debt, which is crucial for the successful launch of the ETFs.

Apollo is partnering with State Street Corp. to launch their first fund, which is a significant milestone in their efforts to expand their presence in the private-credit market.

This move reflects the increasing trend among traditional finance companies to innovate and diversify their investment offerings in response to changing market demands.