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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.