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pollo Global Management is expanding its real estate portfolio with a $1.5 billion all-stock deal to acquire Bridge Investment Group Holdings Inc. This move marks a significant shift for Apollo, which has traditionally focused on equity and debt investments, as well as managing assets for the insurance sector. The acquisition will add approximately $50 billion in assets under management, nearly doubling Apollo's real estate AUM to $110 billion. This expansion brings Apollo closer to its rivals Blackstone and KKR, which have substantial real estate holdings. Under the agreement, Bridge stockholders will receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock, valuing Bridge at $11.50 per share - a premium of about 45% over its previous closing price. The market reacted positively to the news, with Apollo's stock rising 0.8% and Bridge Investment's stock surging 35%.