Apollo to Acquire Bridge Investment Group in $1.5 Billion Stock Deal
Apollo (NYSE: APO) and Bridge Investment Group Holdings Inc. (NYSE: BRDG) have entered into a definitive agreement for Apollo to acquire Bridge in an all-stock transaction with an equity value of approximately $1.5 billion. Both Apollo and Bridge are active sponsors of private placements and publicly registered alternative investment offerings.
The transaction is expected to be immediately accretive to Apollo’s fee-related earnings upon closing.
Bridge was founded in 2009 with a focus on residential and industrial real estate, as well as other specialized real estate asset classes. Led by a senior leadership team and over 300 investment professionals, Bridge says its forward-integrated model, nationwide operating platform, and data-driven approach have fostered organic growth and positive outcomes across asset classes.
“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. 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,” said David Sambur, Apollo partner and co-head of equity.
According to Apollo, Bridge will provide it with immediate scale to its real estate equity platform and enhance Apollo’s origination capabilities in both real estate equity and credit, which is expected to benefit Apollo’s growing suite of hybrid and real estate product offerings. Bridge manages approximately $50 billion of assets under management in real estate products targeting both institutional and wealth clients and is expected to be highly synergistic with Apollo’s existing real estate equity strategies and real estate credit platform.
“[Bridge’s] 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 look forward to working with Bob and the talented Bridge team as we seek to achieve the strategic objectives we laid out at our recent ‘investor day,’” added Sambur.
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.
“We are proud to be joining Apollo and its industry-leading team, who share our commitment to performance and excellence. 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,” said Bob Morse, executive chairman of Bridge.
Upon the closing of the transaction, Bridge will operate as a standalone platform within Apollo’s asset management business, retaining its existing brand, management team and dedicated capital formation team. Morse will become an Apollo partner and lead Apollo’s real estate equity franchise.
The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions. Certain members of Bridge management and their affiliates, collectively owning approximately 51.4% of the outstanding voting power of the Class A common stock and Class B common stock of Bridge, have entered into voting agreements in connection with the transaction and have agreed to vote in favor of it.
Following the transaction, shares of Bridge common stock will no longer be listed on the New York Stock Exchange, and Bridge will become a privately held company.
Click here to visit Alts Wire directory page.
