Apollo has struck a deal to buy Bridge Investment Group in an all-stock deal worth around $1.5 billion. Bridge oversees $50 billion in assets, with a focus on residential and industrial properties. The deal will nearly double Apollo’s real estate holdings, pushing them past $110 billion.
Bridge stockholders will receive 0.07081 shares of Apollo stock for each of their shares at $11.50 per share. Post-deal, Bridge will run as its own platform under Apollo’s asset management umbrella, keeping its brand and leadership intact. The deal is expected to be immediately accretive to Apollo’s fee-related earnings upon closing.
The acquisition will provide Apollo with immediate scale to its real estate equity platform and enhance its origination capabilities. The transaction is expected to close in the third quarter of 2025. Bridge management and affiliates, owning approximately 51.4% of voting power, have agreed to vote in favor of the transaction.
“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,” said Apollo partner and co-head of equity David Sambur.
BofA Securities, Citi, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Newmark Group are acting as financial advisors, Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel and Sidley Austin LLP is acting as insurance regulatory counsel to Apollo. JPMorgan Securities LLC is serving as financial advisor to Bridge and Latham & Watkins LLP is acting as legal counsel. Lazard is serving as financial advisor to the special committee of the Bridge board of directors and Cravath, Swaine & Moore LLP is acting as legal counsel.
Pictured: Bridge Investment Group’s recently acquired Glen 91 in Glendale, AZ.
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