Bridge Investment Group is an alternative asset manager focused primarily on U.S. real estate, operating an owner-operator model that combines fund management with in-house property management, construction management, and leasing. Bridge raises capital from institutional investors (pension funds, sovereign wealth funds, endowments) and high-net-worth individuals, pools it into closed-end funds, and deploys it across specialized real estate verticals including multifamily, workforce and affordable housing, seniors housing, logistics, office, and single-family rental, as well as real estate credit, renewable energy, and private equity secondaries. Bridge manages ~$49.8B in AUM across these platforms, with its largest being a debt strategies platform (~$12.1B AUM) focused on Freddie Mac K-Series bonds, directly originated loans, and CRE CLOs. Bridge earns revenue through management fees (charged on committed or invested capital), carried interest (typically 15–20% of profits above a preferred return hurdle, realized at fund end), and transaction and property management fees from its operating platform. Management fees are the primary and most stable revenue stream, while carried interest realizations have been minimal in recent years due to suppressed real estate transaction volumes. Bridge is a capital-light business at the corporate level. In February 2025, Bridge entered into a merger agreement to be acquired by Apollo in an all-stock transaction valued at ~$1.5B, expected to close in Q3 2025.