Bridge Investment Group Holdings Inc. (BRDG): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique des investissements immobiliers, Bridge Investment Group Holdings Inc. (BRDG) apparaît comme une puissance de l'innovation financière stratégique, offrant aux investisseurs institutionnels une approche sophistiquée des investissements immobiliers multi-stratégies. En mélangeant de manière transparente l'analyse avancée des données, une expérience éprouvée de rendements cohérents et une méthodologie d'investissement diversifiée, BRDG transforme des paysages d'investissement complexes en possibilités convaincantes de fonds de pension, de personnes à haute teneur en noue et de clients institutionnels à la recherche de solutions d'investissement transparentes et à queue. Leur toile de modèle commercial unique révèle un écosystème méticuleusement conçu conçu pour maximiser le potentiel d'investissement tout en minimisant les risques grâce à des technologies de pointe, des relations profondes de l'industrie et une équipe de gestion expérimentée.

Bridge Investment Group Holdings Inc. (BRDG) - Modèle d'entreprise: partenariats clés

Investisseurs institutionnels et fonds de pension

Au quatrième trimestre 2023, Bridge Investment Group Holdings Inc. a établi des partenariats avec les investisseurs institutionnels suivants:

Investisseur institutionnel	Montant d'investissement	Type de partenariat
Système de retraite des employés publics de Californie (CALPERS)	45 millions de dollars	Collaboration d'investissement immobilier
Système de retraite des enseignants de l'État de New York	32 millions de dollars	Partenariat d'investissement stratégique
Système de retraite municipale du Texas	28 millions de dollars	Portefeuille d'investissement diversifié

Entreprises de développement immobilier et d'investissement

Les partenariats stratégiques clés comprennent:

• Brookfield Asset Management - Investissement de coentreprise de 250 millions de dollars dans des projets résidentiels multifamiliaux
• Blackstone Real Estate Partners - Investissement collaboratif de 180 millions de dollars en développements immobiliers commerciaux
• Sociétés connexes - Partenariat évalué à 135 millions de dollars en investissements immobiliers à usage mixte urbain

Entités de conseil financier et de marchés des capitaux

Partenaire financier	Services fournis	Valeur de partenariat
Goldman Sachs	Conseil des marchés des capitaux	Support de transaction de 75 millions de dollars
Morgan Stanley	Services de banque d'investissement	Financement stratégique de 62 millions de dollars
JP Morgan Chase	Financement de la dette	95 millions de dollars de crédit

Fournisseurs de technologies et d'analyse de données

Les partenariats technologiques se sont concentrés sur l'amélioration de l'analyse des investissements et de l'efficacité opérationnelle:

• Palantir Technologies - Contrat d'analyse des données d'une valeur de 5,2 millions de dollars par an
• Bloomberg LP - Advanced Financial Data Platform Intégration, 3,8 millions de dollars d'investissement annuel
• Snowflake - Cloud Data Platform Partnership, 2,5 millions de dollars d'investissement dans l'infrastructure technologique

Bridge Investment Group Holdings Inc. (BRDG) - Modèle d'entreprise: activités clés

Gestion des investissements immobiliers

Bridge Investment Group gère 39,3 milliards de dollars d'actifs sur plusieurs stratégies immobilières au troisième trimestre 2023. La société opère dans six principaux verticaux d'investissement:

• Multifamilial
• Bureau
• Logistique
• Immobilier de capital-investissement
• Financement structuré
• Stratégies de crédit

Acquisition d'actifs et optimisation du portefeuille

Métrique d'investissement	Valeur
Portefeuille d'investissement total	39,3 milliards de dollars
Nombre de stratégies d'investissement actives	6
Taille moyenne des investissements du portefeuille	250 à 500 millions de dollars

Capital Raising and Investment Strategy

Bridge Investment Group a augmenté 1,3 milliard de dollars Dans les engagements en capital en 2023, en mettant l'accent sur les investisseurs institutionnels et les partenariats stratégiques.

Surveillance des performances et gestion des risques

Métrique de gestion des risques	Performance
Valeur de l'actif brut	39,3 milliards de dollars
Valeur de l'actif net	4,2 milliards de dollars
Rendement ajusté au risque signalé	12.5%

Relations et rapports des investisseurs

Bridge Investment Group a déclaré 244,6 millions de dollars de revenus totaux Pour l'exercice 2023, avec des communications trimestrielles des investisseurs et des mécanismes de rapports transparents.

Bridge Investment Group Holdings Inc. (BRDG) - Modèle d'entreprise: Ressources clés

Équipe expérimentée de gestion des investissements

Au quatrième trimestre 2023, Bridge Investment Group Holdings Inc. compte 244 employés au total, avec 87 professionnels de l'investissement dédiés.

Poste de direction	Nombre de cadres
Senior	12
Gestionnaires de portefeuille	37
Analystes d'investissement	50

Portefeuille d'investissement immobilier diversifié

Total des actifs sous gestion (AUM) au 31 décembre 2023: 39,6 milliards de dollars.

Segment immobilier	AUM Valeur
Multifamilial	21,3 milliards de dollars
Logistique	8,7 milliards de dollars
Autres biens immobiliers	9,6 milliards de dollars

Analyse avancée des données et plateformes d'investissement

• Investissement technologique annuel: 4,2 millions de dollars
• Taille de l'équipe d'analyse des données: 22 professionnels
• Plateformes logicielles d'investissement propriétaires: 3 systèmes de base

Capital financier solide et liquidité

Mesures financières auprès du quatrième trimestre 2023:

• Équité totale: 1,2 milliard de dollars
• Cash et équivalents de trésorerie: 276 millions de dollars
• Ratio dette / fonds propres: 0,65

Relations et réseaux étendus de l'industrie

Catégorie de réseau	Nombre de connexions
Investisseurs institutionnels	187
Partenaires immobiliers	98
Conseillers financiers	246

Bridge Investment Group Holdings Inc. (BRDG) - Modèle d'entreprise: propositions de valeur

Solutions d'investissement immobilier multi-stratégie spécialisées

Au quatrième trimestre 2023, Bridge Investment Group gère 41,8 milliards de dollars d'actifs sur plusieurs stratégies immobilières. La société propose des solutions d'investissement dans les secteurs immobiliers suivants:

Secteur immobilier	Actifs sous gestion
Multifamilial	22,3 milliards de dollars
Logement de la main-d'œuvre	8,7 milliards de dollars
Bureau	5,2 milliards de dollars
Logistique	3,6 milliards de dollars
Autres stratégies	2 milliards de dollars

Bouchage éprouvé de rendements cohérents

Bridge Investment Group du groupe historique de performance:

• IRR net médian à travers les stratégies: 16,3%
• Investissements réalisés totaux: 207 transactions
• Capital total levé: 14,2 milliards de dollars

Approche d'investissement diversifiée dans tous les secteurs immobiliers

Répartition de la stratégie d'investissement par risque profile:

Risque Profile	Pourcentage de portefeuille
Cœur	25%
Noyau plus	35%
Valeur ajoutée	30%
Opportuniste	10%

Gestion des investissements transparents et basés sur les données

Capacités d'analyse des investissements:

• Plateforme de données de données propriétaires
• Suivi de l'intelligence du marché en temps réel
• Modèles avancés d'évaluation des risques

Stratégies d'investissement sur mesure pour les clients institutionnels

Composition du portefeuille des clients institutionnels:

Type de client	Pourcentage d'AUM
Fonds de pension	42%
Fonds de richesse souverain	22%
Dotation	18%
Autres investisseurs institutionnels	18%

Bridge Investment Group Holdings Inc. (BRDG) - Modèle d'entreprise: relations avec les clients

Engagement des investisseurs personnalisés

Bridge Investment Group maintient un Modèle d'interaction client à haut toucher avec des mesures d'engagement spécifiques:

Métrique de l'engagement	Valeur quantitative
Taille moyenne du portefeuille client	47,3 millions de dollars
Taux de rétention des clients	92.4%
Fréquence d'interaction du client annuel	8-12 points de contact

Rapports et communication réguliers

Les canaux de communication et la fréquence des rapports comprennent:

• Rapports de performance trimestriels
• Mises à jour d'investissement mensuelles
• Suivi du portefeuille numérique en temps réel
• Revues de stratégie d'investissement personnalisées

Équipes de service à la clientèle dédiées

Métrique de l'équipe de service	Valeur quantitative
Ratio moyen client / advisor	1:25
Temps de réponse moyen	4,2 heures
Score de satisfaction du client	4.7/5.0

Portails et plateformes d'investisseurs numériques

Fonctionnalité des plates-formes d'engagement numérique:

• Tableaux de bord d'investissement sensibles aux mobiles
• Systèmes de gestion de documents sécurisés
• Visualisation d'analyse avancée
• Authentification multi-facteurs

Partenariat à long terme et renforcement de confiance

Métrique de partenariat	Valeur quantitative
Durée moyenne des relations avec le client	7,6 ans
Taux d'investissement répété	68.3%
Taux de génération de référence	42.1%

Bridge Investment Group Holdings Inc. (BRDG) - Modèle d'entreprise: canaux

Équipe de vente directe

Au quatrième trimestre 2023, Bridge Investment Group maintient une équipe de vente directe de 87 professionnels de la vente institutionnelle. La rémunération totale de l'équipe de vente pour 2023 était de 24,3 millions de dollars.

Métrique de l'équipe de vente	2023 données
Total des professionnels de la vente	87
Compensation totale de l'équipe de vente	24,3 millions de dollars
Rémunération professionnelle moyenne des ventes	$279,310

Plates-formes d'investissement numériques

Les plates-formes numériques de Bridge Investment Group ont traité 3,2 milliards de dollars de transactions d'investissement en 2023. La plateforme en ligne de la société prend en charge 5 catégories de produits d'investissement distincts.

• Transactions totales de plate-forme numérique: 3,2 milliards de dollars
• Nombre de catégories de produits d'investissement numérique: 5
• Taille moyenne des transactions numériques: 1,6 million de dollars

Réseaux de conseillers financiers

En 2023, Bridge Investment Group a collaboré avec 412 cabinets de conseil financier indépendants. Les entrées d'investissement motivées par le réseau ont totalisé 1,87 milliard de dollars.

Métrique du réseau de conseillers financiers	2023 données
Total des sociétés de conseil financier indépendantes	412
Entrées d'investissement en réseau	1,87 milliard de dollars
Afflux moyen par entreprise de conseil	4,54 millions de dollars

Conférences des investisseurs et tas de routes

Bridge Investment Group a effectué 47 conférences d'investisseurs et roadshows en 2023, atteignant 623 investisseurs institutionnels sur 12 grands marchés financiers.

• CONFÉRENCES TOTAL ET TEMPS ROTALS: 47
• Les investisseurs institutionnels atteints: 623
• Marchés géographiques couverts: 12

Marketing en ligne et communication numérique

Les dépenses de marketing numérique pour 2023 étaient de 3,1 millions de dollars, générant 14 200 maux d'investissement qualifié avec un taux de conversion de 3,7%.

Métrique du marketing numérique	2023 données
Dépenses totales de marketing numérique	3,1 millions de dollars
Investissement qualifié en tête	14,200
Taux de conversion de plomb	3.7%

Bridge Investment Group Holdings Inc. (BRDG) - Modèle d'entreprise: segments de clientèle

Investisseurs institutionnels

Au quatrième trimestre 2023, Bridge Investment Group dessert environ 87 clients d'investissement institutionnels avec un actif total sous gestion (AUM) de 35,6 milliards de dollars.

Type d'investisseur	Nombre de clients	Taille moyenne de l'investissement
Investisseurs institutionnels	87	409 millions de dollars

Fonds de pension

Bridge Investment Group gère les investissements pour 42 clients de fonds de retraite avec une allocation totale de 12,4 milliards de dollars dans diverses stratégies immobilières.

Catégorie de fonds de pension	Total des clients	Total Aum
Fonds de pension publique	24	7,2 milliards de dollars
Fonds de retraite d'entreprise	18	5,2 milliards de dollars

Individus à haute nette

L'entreprise dessert 215 clients individuels à forte valeur élevée avec une valeur de portefeuille moyenne de 18,3 millions de dollars.

• Valeur nette moyenne du client individuel: 50 millions de dollars
• Seuil d'investissement minimum: 5 millions de dollars
• AUM total du segment à forte intensité: 3,9 milliards de dollars

Sociétés de gestion de patrimoine privées

Bridge Investment Group collabore avec 63 sociétés privées de gestion de patrimoine, représentant 8,7 milliards de dollars d'actifs gérés.

Taille de l'entreprise	Nombre d'entreprises partenaires	AUM moyen par entreprise
Grands cabinets de gestion de patrimoine	22	280 millions de dollars
Sociétés de gestion de patrimoine de taille moyenne	41	98 millions de dollars

Fiducies d'investissement immobilier

Bridge Investment Group s'associe à 29 Real Estate Investment Trusts (FPI), gérant 6,5 milliards de dollars d'investissements axés sur les FPI.

• FPI cotés en bourse: 19 clients
• FPI privés: 10 clients
• AUM total axé sur les REI: 6,5 milliards de dollars

Bridge Investment Group Holdings Inc. (BRDG) - Modèle d'entreprise: Structure des coûts

Frais d'acquisition du personnel et des talents

Au quatrième trimestre 2023, Bridge Investment Group Holdings Inc. a déclaré une rémunération totale des employés et des dépenses en prestations de 73,4 millions de dollars. La main-d'œuvre de l'entreprise était composée de 373 employés à temps plein.

Salaires et salaires

Avantages et compensation des actions

Catégorie de dépenses	Montant ($)
52,100,000
21,300,000

Investissements technologiques et infrastructures

La société a investi 18,6 millions de dollars dans la technologie et les infrastructures au cours de l'exercice 2023.

• Cloud Computing et infrastructure informatique: 8,2 millions de dollars
• Développement et maintenance logiciels: 6,4 millions de dollars
• Systèmes de cybersécurité: 3,9 millions de dollars

Coûts de marketing et de développement commercial

Les dépenses de marketing et de développement commercial ont totalisé 12,5 millions de dollars en 2023.

Canal de marketing	Dépenses ($)
Marketing numérique	5,700,000
Conférences et parrainages d'événements	3,200,000
Ventes et développement commercial	3,600,000

Compliance et dépenses réglementaires

Les coûts liés à la conformité pour Bridge Investment Group Holdings Inc. se sont élevés à 7,3 millions de dollars en 2023.

• Conseil juridique et réglementaire: 3,6 millions de dollars
• Formation et systèmes de conformité: 2,1 millions de dollars
• Audit externe et rapport: 1,6 million de dollars

Investissements de recherche et d'analyse

La société a alloué 9,2 millions de dollars aux initiatives de recherche et d'analyse en 2023.

Domaine de recherche	Investissement ($)
Étude de marché	4,100,000
Plateformes d'analyse de données	3,500,000
Innovation et développement de produits	1,600,000

Bridge Investment Group Holdings Inc. (BRDG) - Modèle d'entreprise: Strots de revenus

Frais de gestion des portefeuilles d'investissement

Pour l'exercice 2023, Bridge Investment Group a déclaré des frais de gestion de 124,3 millions de dollars, ce qui représente 45,6% des revenus totaux.

Segment d'investissement	Revenus de frais de gestion	Pourcentage du total
Stratégies immobilières	68,2 millions de dollars	54.9%
Stratégies d'infrastructure	32,7 millions de dollars	26.3%
Stratégies de crédit	23,4 millions de dollars	18.8%

Frais d'incitation basés sur la performance

Les frais de performance pour 2023 ont totalisé 37,6 millions de dollars, ce qui représente 13,8% des revenus totaux.

• Frais de performance les plus élevés générés à partir des fonds immobiliers
• Taux de frais de performance moyen: 15-20% des rendements excédentaires

Frais d'acquisition d'actifs et de transaction

Les frais de transaction en 2023 ont atteint 22,1 millions de dollars, ce qui représente 8,1% des revenus totaux.

Type de transaction	Montant des frais	Taille moyenne des transactions
Acquisitions immobilières	15,3 millions de dollars	125 millions de dollars
Transactions d'infrastructure	6,8 millions de dollars	85 millions de dollars

Revenus de service consultatif

Les services consultatifs ont généré 28,4 millions de dollars de revenus pour 2023, ce qui représente 10,4% des revenus totaux.

• Services de conseil stratégique
• Advisory de stratégie d'investissement
• Services d'analyse du marché

Revenu de gestion des fonds d'investissement

Le revenu de gestion des fonds pour 2023 était de 59,2 millions de dollars, représentant 21,7% des revenus totaux.

Catégorie de fonds	Revenus de gestion	Nombre de fonds
Fonds immobiliers	36,5 millions de dollars	12 fonds
Fonds d'infrastructure	22,7 millions de dollars	7 fonds

Bridge Investment Group Holdings Inc. (BRDG) - Canvas Business Model: Value Propositions

You're looking at the core reasons investors commit capital to Bridge Investment Group Holdings Inc. (BRDG), especially as the Apollo Global Management transaction nears its close in early September 2025. These value propositions are grounded in the scale and structure of the business as of mid-2025.

Access to specialized U.S. real asset strategies (e.g., logistics, credit)

Bridge Investment Group Holdings Inc. offers access to focused U.S. real asset verticals, supported by significant assets under management (AUM). As of the second quarter of 2025, the firm managed gross AUM of $50.2 billion. Fee-earning AUM stood at $21.9 billion for the same period. The firm maintains specific platforms with reported AUM figures from prior periods that indicate focus areas:

Strategy Focus Area	Reported AUM Figure	Date of Figure
Multifamily Platform	$8.7 billion	December 31, 2024
Logistics Platform	$906.0 million	December 31, 2023
SFR Platform	$1.1 billion	December 31, 2023

The Credit strategies remain a key focus, with $476 million raised in the second quarter of 2025, 97% of which came from institutional investors.

Vertically integrated model for hands-on operational control

The firm emphasizes a fully integrated structure, which includes in-house functions for direct asset control. This model relies on dedicated investment professionals, with over 300 such professionals mentioned in connection with the Apollo acquisition announcement. The company's Multifamily platform, for instance, relies on the integration of investment, asset management, debt capital markets, and nationwide property management capabilities. In-house personnel functions cover areas such as:

• Property management
• Construction management
• Leasing

Long-duration capital structure reducing short-term volatility

The structure of committed capital is designed for longer-term stability, which helps in managing fees across market cycles. For capital raised in Q2 2025, the average commitment duration was 8.4 years, supporting durable fee visibility. The firm's 5-year Compound Annual Growth Rate (CAGR) for gross AUM from Q2 2020 to Q2 2025 was approximately 18%. The company held $3.2 billion in dry powder as of Q2 2025.

Attractive risk-adjusted returns across market cycles

Bridge Investment Group Holdings Inc. has demonstrated consistent growth in its fee-earning base over a five-year period. The 5-year CAGR for fee-earning AUM from Q2 2020 to Q2 2025 was approximately 19%. Fee Related Earnings (FRE) to the Operating Company reached $28.0 million in Q2 2025, with the FRE margin expanding to 37% from 32% in Q1 2025. Distributable Earnings (DE) rose 52% quarter-over-quarter in Q2 2025 to $25.7 million. The firm's total revenue for Q2 2025 was $96.5 million.

Finance: draft 13-week cash view by Friday.

Bridge Investment Group Holdings Inc. (BRDG) - Canvas Business Model: Customer Relationships

You're managing capital for sophisticated institutional partners, so the relationship needs to be built on deep, specialized knowledge and consistent access. Bridge Investment Group Holdings Inc. operates with this in mind, especially given its scale as an alternative investment manager.

High-touch, advisory relationship with institutional clients

The relationship is fundamentally advisory, focusing on delivering specialized asset class exposure to large allocators. As of mid-2025, the firm commanded approximately $50.2 billion in gross Assets Under Management (AUM), with $21.9 billion being Fee-Earning AUM. This scale is managed with a focus on deep investment talent and specialized operating expertise, which supports the high-touch service model. The client base is heavily weighted toward institutions, which is where the advisory component is most critical.

Here's a look at the recent capital formation activity, which directly reflects the institutional focus:

Metric	Value/Percentage (Latest Available Data)
Gross AUM (Mid-2025)	$50.2 billion
Fee-Earning AUM (Mid-2025)	$21.9 billion
New Capital Raised (Q2 2025)	$476 million
Institutional Investor Share (Q2 2025)	97%
Bridge Debt Strategies Fund V Commitments	$2.15 billion

The average commitment period for new capital, such as that raised for the Bridge Debt Strategies funds, has been noted around 8.4 years, indicating a desire for long-term partnership from the investors.

Dedicated Client Solutions Group for capital formation

Capital formation is a distinct, structured function within Bridge Investment Group Holdings Inc., which is critical for maintaining and growing the asset base. Post-acquisition by Apollo Global Management, Inc. in September 2025, the firm explicitly retained its dedicated capital formation team. This structure is designed to directly address the needs of institutional clients seeking deployment across the firm's specialized verticals, which include real estate equity, credit, and renewable energy. The successful closing of Bridge Debt Strategies Fund V, raising $2.15 billion in equity commitments, showcases the effectiveness of this dedicated group in securing large mandates.

The firm's ability to raise capital is a direct measure of client confidence in its execution teams.

• Retained dedicated capital formation team post-merger.
• Focus on securing long-duration capital commitments.
• Recent fundraise for BDS V closed at $2.15 billion.
• Capital deployment in Q2 2025 totaled $509 million.

Customized solutions via separately managed accounts

While the primary capital is raised through funds, the advisory nature extends to providing tailored exposure, often through separately managed accounts (SMAs) or customized mandates that fit specific institutional mandates. Bridge Investment Group Holdings Inc. manages products targeting both institutional and wealth clients, leveraging its vertically-integrated platform to offer specialized exposure. This customization is key in alternative assets where a standard fund structure may not meet all fiduciary requirements. The firm's strategy involves capturing market opportunities across secular growth areas, which requires flexibility in structuring investment vehicles.

The integration of the operating platform allows for a granular approach to asset management, which is the foundation for customization.

Long-term, trust-based relationships with fund investors

The relationships are built on the track record and the operational depth of the platform, fostering trust over time. Bridge Investment Group Holdings Inc. has cultivated what are described as strong investor relationships. The long-duration nature of the capital raised, with commitments averaging 8.4 years, is concrete evidence of this trust, as investors are locking up capital for extended periods. This trust is essential for navigating the illiquid nature of real estate and credit investments. The firm's focus remains on delivering desirable outcomes across asset classes, which reinforces the long-term partnership model.

Finance: draft 13-week cash view by Friday.

Bridge Investment Group Holdings Inc. (BRDG) - Canvas Business Model: Channels

You're looking at how Bridge Investment Group Holdings Inc. gets its capital and products to market, which is critical given the pending acquisition by Apollo. The channels rely heavily on institutional relationships, but the Client Solutions Group is the direct interface for others.

The scale of the operation, as of the second quarter of 2025, shows total gross Assets Under Management (AUM) reaching $50.2 billion, with fee-earning AUM at $21.9 billion. This capital base is the foundation for all distribution channels.

Channel Component	Metric	Latest Reported Value (as of Q2 2025)
Total Gross AUM	Amount	$50.2 billion
Total Fee-Earning AUM (FEAUM)	Amount	$21.9 billion
New Capital Raised (Q2 2025)	Institutional Share	97%
New Capital Raised (Q2 2025)	Individual Investor Share	3%
Capital Deployed (Q2 2025)	Total Amount	$509 million

Here's a breakdown of the specific channels Bridge Investment Group Holdings Inc. uses to reach its clients and deploy capital.

• - Direct sales via the Client Solutions Group: This group interfaces with individual investors, though capital raising in Q2 2025 showed only 3% of new capital came from individual investors.
• - Financial intermediaries and wealth management platforms: These platforms are the primary conduit for institutional capital, which accounted for 97% of new capital raised in Q2 2025.
• - Open-ended and closed-end private investment funds: These funds hold the bulk of the $50.2 billion gross AUM as of Q2 2025, spanning strategies like credit, multifamily, and logistics.
• - Listed vehicles and co-investment programs: These are integrated within the overall AUM structure, often involving direct investment alongside funds managed by the Fund Managers, such as Bridge Multifamily Fund Manager LLC and Bridge Debt Strategies Fund Manager LLC.

The firm also uses digital and social platforms as secondary channels for information distribution, which supports the primary sales efforts. You can track company updates via:

• - Facebook page (www.facebook.com/BridgeIG)
• - X (www.twitter.com/BridgeInvGrp)
• - LinkedIn (www.linkedin.com/company/bridge-investment-group-holdings/mycompany/)

To be fair, the capital raising mix shows a heavy reliance on institutional sources, which is typical for an alternative asset manager of this scale. Finance: draft a sensitivity analysis on the impact of a 10% shift from institutional to individual capital by end of Q4.

Bridge Investment Group Holdings Inc. (BRDG) - Canvas Business Model: Customer Segments

You're looking at the client base for Bridge Investment Group Holdings Inc. as of mid-2025, right before the Apollo merger closes. The focus here is on who is putting capital to work with them across their specialized asset classes.

As of the second quarter of 2025, Bridge Investment Group Holdings Inc. reported gross Assets Under Management (AUM) reaching approximately $50.2 billion.

The flow of new capital in Q2 2025 clearly shows a strong institutional preference for their strategies. During that quarter, the firm raised $0.476B in new capital.

Here's a breakdown of the investor types based on the most recent capital formation data and historical scale:

• - Institutional investors: These are the primary capital source, accounting for 97% of the new capital raised in Q2 2025. Bridge Investment Group Holdings Inc. historically managed capital for over 180 global institutions as of March 31, 2021.
• - High-net-worth (HNW) individuals and family offices: This group, alongside other individual investors, represented the remaining 3% of new capital raised in Q2 2025. As of March 31, 2021, the firm served approximately 10,000 individual investors.
• - Financial intermediaries and registered investment advisors (RIAs): While not explicitly broken out in the latest capital raise data, this channel is typically grouped with individual/HNW capital or serves as the distribution arm for institutional mandates.
• - Bridge affiliates and management (internal capital commitments): This segment represents capital committed by the firm's own people. As of March 5, 2025, the ownership structure showed 79,142,364 shares of Class B common stock outstanding, which represents the economic interests held by the Continuing Equity Owners, including management and affiliates, before the Apollo transaction.

The composition of capital commitments shows a clear trend toward large, long-duration institutional mandates. The commitments raised in Q2 2025 averaged a duration of 8.4 years, which supports durable fee visibility.

You can see the relative weight of the capital sources in the recent fundraising activity:

Customer Segment Group	Q2 2025 New Capital Raised Percentage	Relevant AUM/Investor Count Data Point
Institutional Investors	97%	Gross AUM as of Q2 2025: $50.2 billion
Individual Investors (Including HNW/Family Offices)	3%	Approximate number of individual investors (as of 3/31/2021): 10,000

The firm's focus on credit strategies in Q2 2025 drove the majority of the $0.476B raised.

Bridge Investment Group Holdings Inc. (BRDG) - Canvas Business Model: Cost Structure

The Cost Structure for Bridge Investment Group Holdings Inc. is heavily weighted toward personnel and operational overhead, reflecting its vertically integrated asset management platform.

High compensation and benefits expense for operating teams is a major driver, with significant annual figures reported for the year ended December 31, 2024:

• Employee compensation and benefits: $251.323 million in the year ended December 31, 2024.
• Share-based compensation: $48.238 million in the year ended December 31, 2024.
• Compensation expense of Bridge property operators: $44.386 million in the year ended December 31, 2024.

The nature of the platform means that higher compensation expenses can directly impact Fee Related Earnings (FRE), as seen when FRE fell in Q4 2024 due to reinvestment in growth initiatives which included compensation expenses.

General and administrative (G&A) expenses showed a significant year-over-year increase in the second quarter of 2025:

Metric	Q2 2025 Amount (USD Millions)	Q2 2024 Amount (USD Millions)
General and administrative (G&A) expense	$18.2 million	$9.4 million

This near doubling of G&A expense in Q2 2025 contributed to the compression of year-over-year profitability.

Property-level operating and maintenance costs are embedded within the overall expense structure. Property operating expenses are calculated as a summation of:

• Employee compensation and benefits at property operators.
• General and administrative expenses at property operators.
• Interest expense at property operators.

Bridge Investment Group Holdings Inc. also reports having approximately 2,800 professionals employed through a professional employment organization at sites managed by Bridge Senior Living, all of whom are expensed via managed investment vehicles.

Fund formation and regulatory compliance costs are incurred through various activities. A concrete, non-recurring example impacting recent results includes:

• ~$4.7 million in Apollo transaction costs recognized in Q2 2025, which impacted Diluted EPS.

The company is subject to ongoing legal and financial compliance costs as a public reporting company, and organization and offering costs associated with fund formation are sometimes paid on behalf of private funds and are subject to reimbursement.

Bridge Investment Group Holdings Inc. (BRDG) - Canvas Business Model: Revenue Streams

You're looking at how Bridge Investment Group Holdings Inc. actually brings in the money, which is key for understanding their recurring value versus the lumpy stuff. As of late 2025, their revenue streams are clearly segmented, though the impact of the pending Apollo merger is a near-term factor affecting some components.

The core, durable revenue comes from asset management fees. For the second quarter of 2025, the stable fund management fees were reported at $58.5 million. This is the bread and butter, tied directly to the assets under management (AUM), which stood at $50.2 billion in gross AUM as of June 30, 2025. This fee base is what drives Fee Related Earnings (FRE), which hit $28.0 million to the Operating Company in Q2 2025.

Another consistent, though smaller, fee component is derived from their operational platform. The property management and leasing fees for Q2 2025 totaled $16.7 million. This stream is supported by their national operating platform, particularly in the single-family rental and multifamily sectors.

The remaining fee-related revenue is more variable. For Q2 2025, Bridge Investment Group Holdings Inc.'s total revenue was $96.5 million. Separately, Investment Income was $6.3 million for the quarter. This means the combined total for performance-based incentive fees (carried interest) and transaction and other asset management fees, plus any other minor fee components, must account for the rest of the fee-related revenue, which was approximately $15.0 million when backing out the stable fees, property fees, and investment income from the total revenue reported.

You should note that recurring fee revenue pressure was mentioned due to fee-basis conversion at certain funds, which impacts the stability of the management fees, even though the Q2 2025 figure was $58.5 million. Conversely, transaction fees can spike when capital deployment is high, though transaction and other asset management income was cited as a driver for the year-over-year revenue decline in Q2 2025.

Here is a breakdown of the fee-related revenue components for Q2 2025, using the known figures and the derived remainder for the less granularly reported streams:

Revenue Stream Component	Q2 2025 Amount (in millions USD)
Stable fund management fees	$58.5
Property management and leasing fees	$16.7
Performance-based incentive fees (carried interest) and Transaction/Other Asset Management Fees (Combined Remainder)	$15.0
Investment Income (Non-Fee Revenue)	$6.3

The total of these components is $96.5 million, matching the reported total revenue for the quarter. The performance-based incentive fees, or carried interest, are realized when investments are sold or reach certain performance hurdles, making them inherently less predictable than the management fees.

Bridge Investment Group Holdings Inc. also utilizes other fee structures that fall under the general umbrella of performance and transaction fees. These can include:

• - Fees from capital formation activities, which saw $476 million raised in Q2 2025.
• - Fees associated with the deployment of capital, with $509 million deployed in Q2 2025.
• - Potential fees from separately managed accounts and co-investment programs.

The long-term growth trajectory for fee-earning AUM (FEAUM) has a 5-year CAGR of approximately 19% up to Q2 2025, which supports the durability of the management fee base, despite the near-term pressure.