Private Equity in ETF Form

There are a few business development companies making short-term and unsecured loans and those will soon be bundled into a nice little ETF. You can wait for the ETF, or you can buy up a few of them in anticipation. Via Marketwatch:

"The American Stock Exchange expects to start calculating and publishing the Listed Private Equity Index by the end of September, and PowerShares expects to launch the ETF next month. Because the index isn't yet published, Red Rocks can't comment on its initial components. Stocks that seem likely to make the cut include Apollo Investment (AINV), KKR Financial (KFN), Gladstone Capital (GLAD) and Allied Capital (ALD) . Most of these companies are affiliated with private-equity firms and make loans to private companies."

I picked up a little AINV. Buy it in the next 45 mins to get the 9/28 dividend.