Apollo Global Management, Inc. (APO) entered a merger agreement on February 24, 2025, to acquire real estate investment firm Bridge Investment Group Holdings Inc. (BRDG) in an all-stock deal valued at $1.5 billion.
Under the terms of the agreement, Bridge stockholders and Bridge OpCo unitholders will receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A common unit, respectively.
This exchange is valued at $11.50 per share of Bridge Class A common stock and per Bridge OpCo Class A common unit, representing a premium of 45.2% from the stock’s last close.
Bridge Investment is a U.S.-based alternative investment manager with about $50 billion in AUM, specializing in real estate, credit, renewable energy, and secondaries, serving global institutions and individual investors through 25 investment vehicles.
Apollo is a global alternative asset manager with approximately $751 billion in AUM, specializing in credit, private equity, and real estate investments, serving institutional and individual investors worldwide.
After the deal closes, expected in the third quarter of 2025, Bridge will operate as a standalone platform within Apollo’s asset management business, preserving its existing brand and management team.
Bridge will provide Apollo with immediate scale in real estate equity and strengthen its origination capabilities in both equity and credit, supporting Apollo’s growing hybrid and real estate offerings.
Bridge Executive Chairman Bob Morse will become an Apollo Partner and lead its real estate equity franchise.
Bridge engaged J.P. Morgan Securities and Lazard as financial advisors, with legal counsel from Latham & Watkins and Cravath, Swaine & Moore. Apollo received financial advice from BofA Securities, Citi, Goldman Sachs, Morgan Stanley, and Newmark Group, with legal counsel from Paul, Weiss, Rifkind, Wharton & Garrison.
For additional details on this M&A transaction, please visit the Deal Metrics page here:
Deal Metrics for the acquisition of Bridge Investment Group Holdings Inc. (BRDG) by Apollo Global Management, Inc. (APO)
The Deal Metrics page for each merger or acquisition includes:
– A spread history chart of the merger from announcement through eventual completion or failure.
– Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
– News and SEC filings.
– A history of deal updates.
– And a whole lot more.
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Editor’s Note: Baranjot Kaur contributed to this article