Redding Ridge Asset Management to Acquire Irradiant Partners

Core Viewpoint - Redding Ridge Asset Management (RRAM), an affiliate of Apollo, is set to acquire Irradiant Partners, which will add approximately $10.7 billion in CLO assets, increasing RRAM's total AUM to around$38 billion, positioning it as a top five CLO manager in the industry [2][4]. Company Overview - RRAM is an independently managed affiliate of Apollo, founded in 2016, specializing in structured credit with over $27 billion in AUM prior to the acquisition [9]. - Irradiant Partners, established in 2021, focuses on liquid credit, private credit, and renewables, managing nearly$13 billion primarily for institutional investors [10]. Acquisition Details - The acquisition will enhance RRAM's scale and resources, with a first close expected in Q2 2025, subject to regulatory approval [5]. - RRAM will fund the acquisition using cash on its balance sheet, although financial terms have not been disclosed [5]. Leadership Changes - Following the acquisition, John Eanes, currently co-CEO of Irradiant, will become the Chief Investment Officer of RRAM US, while Michael Levitt and Jon Levinson will join Apollo [3][4]. Strategic Importance - The acquisition is seen as critical for achieving scale and operating leverage in portfolio management, enhancing RRAM's position as a well-capitalized global CLO manager [4].