Apollo has successfully completed the acquisition of Bridge Investment Group Holdings Inc. in an all-stock transaction.
Bridge will remain a platform company within Apollo's asset management business, retaining its brand, management, and investment teams.
The acquisition aims to provide immediate scale in real estate equity for Apollo and strengthen their ability to originate across market growth areas.
Acquisition Details
Bridge stockholders and Bridge OpCo unitholders receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock, valued at $11.50 per share.
Advisors Involved
Financial advisors included BofA Securities, Citi, Goldman Sachs & Co., Morgan Stanley & Co., Newmark Group, J.P. Morgan Securities; legal counsels were Paul, Weiss, Rifkind, Wharton & Garrison LLP, Sidley Austin LLP, Latham & Watkins LLP, and Cravath, Swaine & Moore LLP.
Forward-Looking Statements
Apollo's press release included forward-looking statements regarding the benefits of the acquisition, business performance, and liquidity, emphasizing the Company's cautious optimism.
- The acquisition positions Apollo to expand and diversify investment verticals, enhance capital formation capabilities, and create value for investors.
- Apollo's real estate business gains significant expertise and resources from Bridge, setting the stage for growth and market leadership.
Apollo's acquisition of Bridge Investment Group signifies a strategic move to strengthen its real estate portfolio and enhance market presence. The collaboration between the two entities is poised to deliver value and growth in the real estate investment landscape.