In a strategic move that reshapes the real estate investment landscape, Apollo Global Management has announced a blockbuster deal to acquire Bridge Investment Group Holdings Inc. for a staggering $1.5 billion. The all-stock transaction is poised to close in the third quarter, with four powerhouse law firms guiding the intricate negotiations.
Once finalized, Bridge, currently a publicly traded company, will transition into a private entity under the Apollo umbrella. Shareholders of Bridge are set to receive 0.07081 shares of Apollo stock per Bridge Class A common unit owned—valuing the deal at $11.50 per share.
Legal Titans Steer the Deal
A legal dream team has been assembled to navigate this high-stakes transaction. Paul Weiss Rifkind Wharton & Garrison LLP serves as legal counsel to Apollo, with Sidley Austin LLP advising on insurance regulatory matters. Meanwhile, Latham & Watkins LLP is representing Bridge, and Cravath Swaine & Moore LLP is counseling Bridge’s special committee.
A Strategic Growth Move
Apollo’s real estate equity and credit capabilities stand to be significantly bolstered by Bridge’s seasoned expertise. “Bridge brings a seasoned team with deep expertise and a strong track record in their sectors,” said David Sambur, Apollo’s partner and co-head of equity. “Their business will complement and further augment our existing real estate capabilities, and we believe we can help scale Bridge’s products by leveraging the breadth of our integrated platform.”
