Key Takeaways Bridge Investment Group Holdings agreed to be purchased by investment firm Apollo Global Management for $1.5 billion, and shares took off.The agreement gives Bridge investors Apollo shares worth about $11.

Apollo Global Management is acquiring Bridge Investment Group for $1.5 billion. Marc Rowan is ready to take a bigger bite out of real estate. The deal is expected to double Apollo’s real estate assets under management, pushing the number past $110 billion.

Salt Lake City-based Bridge manages approximately $50 billion in assets, primarily in the industrial and residential sectors.