BY Richard Summerfield
Alternative asset manager Apollo Global Management and Bridge Investment Group Holdings announced they have entered into a definitive agreement for Apollo to acquire Bridge in an all-stock transaction worth approximately $1.5bn.
Following closure of the deal, expected in the third quarter of 2025, Bridge will operate as a standalone platform within Apollo’s asset management business, retaining its existing brand and management team.
Under the terms of the transaction, Bridge stockholders and Bridge OpCo unitholders will receive, at closing, 0.07081 shares of Apollo stock for each share of Bridge class A common stock and each Bridge OpCo class A common unit, respectively, valued by the parties at $11.50 per each share of Bridge class A common stock and Bridge OpCo class A common unit, respectively. The offer represents a premium of about 45 percent to Bridge’s last close before the deal was announced.
“We are pleased to announce this transaction with Bridge, which is highly aligned with Apollo’s strategic focus on expanding our origination base in areas of our business that are growing but not yet at scale,” said David Sambur, a partner and co-head of equity at Apollo. “Led by a respected real estate team including Executive Chairman Bob Morse and CEO Jonathan Slager, Bridge brings a seasoned team with deep expertise and a strong track record in their sectors. Their business will complement and further augment our existing real estate capabilities, and we believe we can help scale Bridge’s products by leveraging the breadth of our integrated platform.”
“We are proud to be joining Apollo and its industry-leading team, who share our commitment to performance and excellence,” said Bob Morse, executive chairman of Bridge. “This transaction will allow the Bridge and Apollo teams to grow on the strong foundation that Bridge has built since 2009 as we work to pursue meaningful value and impact for our investors and communities. With Apollo’s global integrated platform, resources, innovation and established expertise, we are confident that Bridge will be positioned for the next phase of growth amid growing demand across the alternative investments space.”
Bridge, which was founded in 2009 and went public in 2021, manages about $50bn in assets and has more than 300 investment professionals who focus on real-estate investment. Apollo has set targets of managing $1 trillion of assets by 2026 and $1.5 trillion by 2029, part of a set of goals it laid out at its investor day in October 2024.
News: Apollo to buy real estate firm Bridge Investment Group for $1.5 billion