B
ridge Investment Group's stock surged today after Apollo Global Management announced a $1.5 billion acquisition deal, with the investment firm opting to use stock instead of cash for the transaction. This move is part of Apollo Global Management's strategy to bolster its real estate investments and compete more effectively with rival equity firms.

    The acquisition brings new talent to Apollo Global Management, with Bridge Investment Group Executive Chairman Bob Morse set to become a partner at the company and lead its real-estate equity business. The deal also supports Apollo Global Management's goal of increasing assets under management to $1.5 trillion by 2029, building on last year's total of $751 billion.

    Investors in Bridge Investment Group welcomed the news, with shares rising 35.35% as trading volume spiked to 1.16 million units, more than seven times the three-month daily average. Apollo Global Management's stock, meanwhile, dipped 1.86%, a typical response for the buyer in an acquisition deal.

    Analysts are bullish on Apollo Global Management, with a Strong Buy consensus rating based on 13 Buy and three Hold ratings over the last three months. The average price target of $190.07 suggests potential upside of 28.59% for APO stock.