By Kyle Morris

EQT AB said Friday that it has agreed to buy Chicago-based Redwood Capital Group to expand its presence in the U.S.

Redwood Capital will join EQT Exeter and is expected to generate below $10 million in revenue during 2022, EQT said.

The transaction isn't expected to have a material impact on EQT's financial numbers and won't add any assets under management at closing.

The transaction is expected to close by the third quarter of 2022, subject to conditions.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

May 13, 2022 10:56 ET (14:56 GMT)