Alternative asset manager Apollo Global Management has agreed to buy real estate firm Bridge Investment Group in an all-stock deal worth $1.5 billion. Bridge shareholders and unit holders will receive 0.07081 shares of Apollo stock for every share they hold, with each share valued at $11.50.
The acquisition is expected to give Apollo immediate scale to its real estate equity platform and enhance its origination capabilities in both real estate equity and credit. Bridge, founded in 2009, manages around $50 billion in assets and has more than 300 investment professionals focused on real-estate investments.
Apollo aims to manage $1 trillion of assets by 2026 and $1.5 trillion by 2029. After the deal closes, expected in the third quarter, Bridge will operate as a standalone platform within Apollo’s asset management business. Bridge Executive Chairman Bob Morse will become an Apollo partner and head its real-estate equity business.
The offer represents a premium of about 45% to Bridge’s last close, with shares jumping 34% in premarket trading.
Source: https://www.reuters.com/markets/deals/apollo-buy-real-estate-firm-bridge-investment-group-15-billion-2025-02-24