Apollo Completes All-Stock Acquisition Of Bridge To Expand Real Estate Equity Platform

(RTTNews) - Apollo Global Management (APO) has finalized its all-stock acquisition of Bridge Investment Group Holdings Inc. (Bridge).

Bridge will operate as a platform company within Apollo's asset management business, maintaining its brand, leadership, investment teams, and capital formation group. The deal provides Apollo with immediate scale in real estate equity while reinforcing its ability to originate opportunities across key growth sectors.

Under the transaction terms, Bridge stockholders and OpCo unitholders will receive 0.07081 Apollo shares for each Bridge share or unit, equivalent to $11.50 per Bridge Class A share. Bridge's common stock has been delisted from the New York Stock Exchange.

David Sambur, Apollo Partner and Co-Head of Equity, said the acquisition significantly enhances Apollo's real estate capabilities by combining Bridge's investment talent, operating expertise, and investor relationships with Apollo's existing platform.

Bob Morse, Bridge Executive Chairman, stated that joining Apollo provides resources and strategic guidance to broaden investment verticals, strengthen capital formation, and create one of the industry's leading real estate investment franchises.

APO currently trades at $134.56 or 1.23% lower on the NYSE.