Apollo buys Bridge Investment Group for $1.5B in all-stock deal

What's happening: Apollo is acquiring Bridge Investment Group in an all-stock transaction valued at approximately $1.5 billion, expanding Apollo's footprint in residential and industrial real estate sectors while adding $50 billion in assets under management.

The key moves:

• Bridge will operate as a standalone platform within Apollo's asset management business, keeping its brand and leadership team

• Bridge Executive Chairman Bob Morse will become an Apollo Partner and lead Apollo's real estate equity franchise

• Transaction expected to close in Q3 2025, subject to shareholder approval and regulatory clearances

By the numbers:

• $1.5 billion - equity value of the all-stock transaction

• $50 billion - Bridge's assets under management

• 0.07081 - Apollo shares Bridge stockholders will receive for each Bridge share

Key quotes:

• "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." - David Sambur

• "This transaction will allow the Bridge and Apollo teams to grow on the strong foundation that Bridge has built since 2009." - Bob Morse

The wrap: This acquisition immediately scales Apollo's real estate equity platform while enhancing its origination capabilities in both equity and credit. The deal is expected to be immediately accretive to Apollo's fee-related earnings and positions both firms for stronger growth in the alternative investments space.