The Globe and Mail reports in its Wednesday, Nov. 6, edition that asset managers are aiming to combine two rapidly growing investment areas -- exchange traded funds and private credit -- by creating ETFs that track the $1.7-trillion (U.S.) market for private loans. The Globe's Jamie Sturgeon writes that last month State Street and Apollo Global Management filed an application with the Securities and Exchange Commission for a pioneering ETF to hold private debt directly, and others are expected to follow. If approved, Canadian asset managers may seek similar regulatory approvals. Experts believe this approach could extend to other private market classes like private equity and real assets. "This hasn't been done at scale before," says TD Securities' Andres Rincon. State Street will manage the proposed SPDR SSGA Apollo IG Public & Private Credit ETF, with Apollo providing a liquidity backstop. Mr. Rincon notes that this creates challenges due to the mismatch between the ETF's daily trading on stock exchanges and the non-tradeable nature of private investments, especially during market volatility. Mr. Rincon says: "It is the issue everybody is trying to figure out. This is not a new endeavour."