It would give retail investors access to a $1.7 trillion market. It could be tricky, as private credit tends to be illiquid while ETF investors need high liquidity. According to The Wall Street Journal, some of the biggest private equity and investment management giants want to offer retail investors access to exchange-traded funds backed by private credit. The race to launch private credit ETFs has heated up in recent months. Last month, State Street proposed a private debt ETF to the Securities and Exchange Commission.

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Persons: —, Anna Paglia, Paglia, Eric Mogelof Organizations: Service, Wall Street, Apollo Global Management, BlackRock, Capital Group, KKR, Securities and Exchange Commission, Street's