In a strategic move to bolster its real estate portfolio, Apollo Global Management has announced plans to acquire Bridge Investment Group Holdings Inc. for $1.5 billion in an all-stock deal. This acquisition marks a significant shift for Apollo, which has historically focused on equity and debt investments, as well as managing assets for the insurance sector.
The deal, expected to close in the third quarter of 2023, will add approximately $50 billion in assets under management to Apollo's portfolio, nearly doubling its real estate AUM to $110 billion. This expansion brings Apollo closer to its rivals Blackstone and KKR, which have substantial real estate holdings.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
