Apollo Global Management will acquire real estate firm Bridge Investment Group for approximately $1.5 billion in an all-stock transaction, boosting its real estate portfolio.
Bridge shareholders and unit holders will receive 0.07081 Apollo shares for each Bridge share, valuing Bridge stock at $11.50 — a 45% premium to its last close. Following the announcement, Bridge shares surged 34% in premarket trading.
The deal strengthens Apollo’s real estate equity platform and enhances its origination capabilities in both real estate equity and credit.
Founded in 2009 and public since 2021, Bridge manages around $50 billion in assets with a team of over 300 investment professionals focused on real estate investments.
Apollo aims to grow its assets under management to $1 trillion by 2026 and $1.5 trillion by 2029 — part of its long-term strategy outlined during its investor day last October.
Upon completion of the deal, expected in the third quarter, Bridge will operate as a standalone platform within Apollo’s asset management division.
Bridge’s Executive Chairman, Bob Morse, will join Apollo as a partner and head of its real estate equity business.
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