Apollo Global Management (APO) affiliate Redding Ridge Asset Management said late Friday is acquiring Irradiant Partners through a transaction expected to have its initial close by mid-year.

The deal is expected to provide Redding with about $10.7 billion in additional assets under management. Apollo also will receive about $2.2 billion of private credit and renewables from the deal.

Once the deal closes, Irradiant co-founder John Eanes will become chief investment officer at Redding Ridge. Most of Irradiant's other employees also expected to remain with the company.