The acquisition marks the latest sign that the world’s largest asset managers believe the worst of the commercial real estate crisis—caused by the pandemic-induced recession—is behind us.
Apollo has agreed to pay $0.07081 for each share of Bridge it holds, which values Bridge at approximately $11.50 per share. The Salt Lake City-based company manages around $50 billion in real estate assets, targeting institutional clients and high-net-worth individuals.
Bridge is one of the largest private equity real estate managers, with $22 billion in assets under management.
Following the deal's closure, Bridge will operate as an independent platform within Apollo’s asset management division, maintaining its current brand and management team.
Bridge’s Executive Chairman, Bob Morse, will become a partner at Apollo and will lead the company’s real estate division.
Apollo aims to manage $1 trillion in assets by 2026 and $1.5 trillion by 2029.
The transaction is expected to close in the third quarter of 2025, subject to typical closing conditions for deals of this nature, including shareholder approval and regulatory clearances.
Once the transaction is finalized, Bridge’s shares will no longer be listed on the New York Stock Exchange.
