Apollo and Bridge Investment Group Holdings Inc. have announced a definitive agreement under which Apollo will acquire Bridge in an all-stock transaction valued at approximately $1.5 billion.
Founded in 2009, Bridge Investment Group has established itself as a leader in residential and industrial real estate, as well as other specialized real estate asset classes. With a team of over 300 investment professionals and a forward-integrated model, Bridge has driven organic growth and delivered strong investment performance across its portfolio.
The acquisition will significantly enhance Apollo’s real estate equity platform, adding immediate scale and strengthening its origination capabilities in both real estate equity and credit. Bridge currently manages approximately $50 billion in assets under management (AUM), targeting institutional and wealth clients. The integration is expected to create synergies with Apollo’s existing real estate equity strategies and its industry-leading real estate credit platform.
David Sambur, Partner and Co-Head of Equity at Apollo, emphasized the strategic alignment of the acquisition: “We are pleased to announce this transaction with Bridge, which aligns with our focus on expanding our origination base in high-growth areas. Led by a seasoned real estate team including Executive Chairman Bob Morse and CEO Jonathan Slager, Bridge has a strong track record in its sectors. We believe we can scale Bridge’s offerings by leveraging Apollo’s broad integrated platform.”
Bridge Executive Chairman Bob Morse expressed optimism about the partnership: “We are proud to be joining Apollo and its industry-leading team, who share our commitment to performance and excellence. This transaction enables both companies to build upon Bridge’s strong foundation and drive further growth. With Apollo’s global platform and deep expertise, we are confident in our ability to capitalize on opportunities in the alternative investments space.”
The transaction is expected to be immediately accretive to Apollo’s fee-related earnings upon closing. It positions Apollo to expand its footprint in the real estate sector, leveraging Bridge’s data-driven approach and nationwide operating platform. The deal reflects Apollo’s ongoing strategy to diversify and scale its investment capabilities, reinforcing its competitive advantage in the alternative asset management industry.
The acquisition remains subject to customary closing conditions and regulatory approvals, with completion expected in the coming months.
Transaction Details
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 share. Upon closing, Bridge will continue to operate as a standalone platform within Apollo’s asset management business, maintaining its existing brand, management team, and capital formation team. Bob Morse will join Apollo as a Partner and lead its real estate equity franchise.
A special committee of independent directors for Bridge, advised by independent legal and financial advisors, reviewed, negotiated, and unanimously recommended approval of the merger agreement, determining it to be in the best interests of Bridge and its stockholders. Acting upon this recommendation, the Bridge Board of Directors approved the merger agreement.
The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions, including approval by a majority of Bridge’s Class A and Class B common stockholders and regulatory approvals. Certain Bridge management members and affiliates, collectively holding approximately 51.4% of voting power, have agreed to vote in favor of the transaction. Upon completion, Bridge common stock will be delisted from the New York Stock Exchange, and Bridge will become a privately held company.
Further details will be disclosed in Bridge’s Current Report on Form 8-K, which will be filed in connection with this transaction.
