EQT Exeter expands U.S. team, acquiring Redwood Capital Group

EQT AB has reached an agreement to acquire Redwood Capital Group (RCG), a residential core plus and value-add investment manager headquartered in Chicago.

RCG is a vertically integrated, core plus and value-oriented residential investment management firm experienced in all operating areas, including acquisition, asset management, construction management and property management. RCG, which has about 35 corporate employees, has successfully executed 79 multifamily investments in high-growth U.S. markets, including 48 realized investments that achieved in more than two-times equity returns across more than 22,000 units. RCG investments comprise deal-by-deal joint ventures on behalf of multiple institutional clients, including global fund sponsors, insurance companies and family offices.

The RCG team will combine with EQT Exeter’s existing U.S. multifamily team. The new group will be led by RCG's co-founder, David Carlson, who will report directly to Ward Fitzgerald, hea