ProShares Expands into Active Management and Private Markets with Key Hires — ProShare Advisors LLC (ProShares)

Event summary

ProShares has made several key hires to support its expansion into active management, private markets, and fixed income, with over 20 open positions.
The firm is launching a new Active Investments platform, led by Alessio de Longis, former Head of Asset Allocation at Invesco.
ProShares plans to introduce interval funds to access less-liquid, return-oriented opportunities not available through traditional ETFs.
The company is considering strategic partnerships with other asset management firms to accelerate growth.
ProShares' assets under management (AUM) reached close to $120 billion as of September 2026.

The big picture

ProShares' move into active management and private markets reflects a broader industry trend of ETF providers diversifying their offerings to capture higher-fee strategies. With AUM nearing $120 billion, the firm is positioning itself to compete with larger asset managers by leveraging specialized talent and new product structures. The success of this pivot will depend on its ability to execute on complex investment strategies while maintaining its ETF leadership.

What we're watching

Execution Risk: How ProShares will integrate new talent and capabilities into its existing ETF-focused platform.
Market Penetration: Whether ProShares can successfully compete in active management and private markets, historically dominated by larger firms like BlackRock and Invesco.
Strategic Partnerships: The pace at which ProShares forms and leverages partnerships to accelerate its expansion into new asset classes.