Apollo has plans to acquire Bridge Investment Group in an all-stock transaction with an equity value of approximately $1.5 billion.
As part of the deal, Bob Morse, Bridge executive chairman, will become an Apollo partner and head of its real estate equity business.
Upon the closing of the transaction, Bridge will operate as a stand-alone platform within Apollo’s asset management business, retaining its existing brand, management team and dedicated capital formation team.
Bridge will provide Apollo with immediate scale to its real estate equity platform and enhance Apollo’s origination capabilities in both real estate equity and credit, which is expected to benefit Apollo’s growing suite of hybrid and real estate product offerings. Bridge manages approximately $50 billion of high-quality AUM in real estate products targeting both institutional and wealth clients and is expected to be highly synergistic with Apollo’s existing real estate equity strategies
