At a glance
- Alternative Credit Investor reported the work on Oct. 28.
- The change replaces monthly valuations with daily marks for the covered strategies, according to the report.
- For advisors and allocators holding semi-liquid credit funds, the change shows up in the mark: valuations that came monthly will be produced daily for the covered strategies, giving a fresher reading between reports.
State Street has started implementing a daily net asset value operating model for certain private markets strategies, supporting Apollo's recent decision to price its $850 billion credit business daily. Alternative Credit Investor reported the work on Oct. 28.
The change replaces monthly valuations with daily marks for the covered strategies, according to the report. Eric Needleman, a partner and head of Apollo capital solutions, said: "Expanding daily pricing across our credit platform reflects our commitment to providing investors with greater price transparency and more regular access to information."
For advisors and allocators holding semi-liquid credit funds, the change shows up in the mark: valuations that came monthly will be produced daily for the covered strategies, giving a fresher reading between reports.
Reported by the Fund launches & raises desk from Alternative Credit Investor. Published . Corrections