(Reuters) -Alternative asset manager Apollo Global Management will buy real estate firm Bridge Investment Group for about $1.5 billion in an all-stock deal, expanding its real estate offerings. Bridge stockholders and unit holders of its subsidiary will each receive 0.

Bridge Investment Group (BRDG) stock rocketed higher today after Apollo Global Management (APO) announced it will spend roughly $1.5 billion to

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.