Global asset manager Apollo is acquiring real estate fund manager Bridge Investment Group for $1.5 billion (€1.43 billion).
NYSE-listed Bridge shareholders will receive 0.07081 shares of Apollo stock for each of their Bridge shares or units. The exchange is valued at $11.50 per Bridge share/unit.
As part of the deal, Bridge’s executive chairman, Bob Morse, will join Apollo as a partner and it is their real estate equity business.
Founded in 2009, Bridge manages $50 billion in US residential, industrial and other niche real estate assets. Apollo said the acquisition immediately scales its real estate equity platform and enhances its ability to develop new real estate and hybrid investment offerings.
Source: IPE Real Assets on 25 Feb 2025
https://realassets.ipe.com/news/apollo-to-buy-us-real-estate-manager-bridge-investment-group-for-15bn/10129068.article