Bridge Investment Group

Short description: American Real Estate Investment company

Bridge Investment Group Holdings Inc.

Type| Public

Traded as

* NYSE: BRDG

Industry| Investment management
Founded| 2009; 14 years ago (2009)
Founders|

* Paul Hutchinson
* John Pennington
* Douglas Anderson
* Jonathan Slager
* Donaldson Hartman
* Kelley Hansen

Headquarters| 111 East Sego Lily Drive,

Salt Lake City

Utah, United States

Key people

* Robert Morse (Chairman)
* Jonathan Slager (CEO)

Products| Alternative investments
Private equity real estate
Private credit
Revenue|  $409.05 million (FY 2022)

Net income

|  $272.37 million (FY 2022)
AUM| $48.8 billion (March 31, 2023)[1]
Total assets|  $1.15 billion (FY 2022)
Total equity|  $646.32 million (FY 2022)

Number of employees

|  2,250 (FY 2022)
Subsidiaries| Newbury Partners
Website| www.bridgeig.com
Footnotes / references
[2][3]

The Bridge Investment Group (Bridge) is an American alternative investment company headquartered in Salt Lake City, Utah. The company focuses on investments in the real estate sector as well as credit investments. It has expanded into other areas such as the private-equity secondary market, property technology, and renewable energy.

In 2022, the firm was ranked by PERE (under Private Equity International) as the thirteenth largest Private Equity Real Estate company based on total fundraising over the most recent five-year period.[4]

## History

In the fall of 2005, entrepreneurs Paul Hutchinson and John Pennington were returning to Utah from a scuba diving trip in Ecuador. The two decided to start their own private equity investment fund, Bridge Loan Capital Fund LP in 2006. They later brought in four other partners, Douglas Anderson, Jonathan Slager, Donaldson Hartman and Kelley Hansen to join Bridge Loan Capital, which was the investment management company.[5]

In December 2006, Hartman foresaw the Subprime mortgage crisis and Bridge Loan Capital changed it strategy from doing real estate loans to acquiring real estate properties and selling them for a profit at a more favorable time. In the fall of 2008, the Bridge Multifamily & Commercial Office Fund I was launched. The team looked for a team that could manage the properties that were acquired and eventually found a company nearby named Bridge Property Management which was a separate company founded in 1991.[5]

In the spring of 2009, all the Bridge entities above combined into one entity to form the Bridge Investment Group. It was joined by Hartman's former boss, Robert Morse who was previously the CEO of Citigroup Asia. Despite the effects of the 2007–2008 financial crisis, Bridge was able to successfully raise capital for its funds during this period.[5]

In July 2019, Bridge announced it would be deploying $509 million in capital for projects in opportunity zones.[6] In January 2021, Bridge announced it had raised almost $2 billion in capital for opportunity zones projects.[7]

In July 2021, Bridge held an initial public offering becoming a listed company on the New York Stock Exchange at $16 per share.[8][9][10]

In February 2023, Bridge acquired private equity firm, Newbury Partners in $320.1 million all-cash deal so it could perform activities in the private-equity secondary market.[11][12]

## References

1. ↑ "Q1 2023 10-Q Report". https://ir.bridgeig.com/sec-filings/all-sec-filings/content/0001854401-23-000069/brdg-20230331.htm.
2. ↑ "Form ADV". https://reports.adviserinfo.sec.gov/reports/ADV/159127/PDF/159127.pdf.
3. ↑ "2022 10-K Report". https://ir.bridgeig.com/sec-filings/all-sec-filings/content/0001854401-23-000041/brdg-20221231.htm.
4. ↑ "The PERE 100 bounces back". 2022. https://www.harrisonst.com/wp-content/uploads/2022/06/The-PERE-100-Bounces-Back.pdf.
5. ↑ 5.0 5.1 5.2 "Investor Success Magazine – Paul Hutchinson – Rev Media USA". https://revmediausa.com/investor-success-magazine-paul-hutchinson/.
6. ↑ "The Masses Are Drawn Toward Funds Chasing Real Estate Tax Breaks" (in en). Bloomberg.com. 2019-07-09. https://www.bloomberg.com/news/articles/2019-07-09/wealthy-masses-bet-500-million-as-new-funds-chase-u-s-tax-perk.
7. ↑ "Stock Market Rally Spurs Investment in New Tax-Saving Funds" (in en). Bloomberg.com. 2021-01-15. https://www.bloomberg.com/news/articles/2021-01-15/stock-market-s-rally-spurs-investment-in-new-tax-saving-funds.
8. ↑ "Bridge Investment Group Holdings Inc. Announces Pricing of Initial Public Offering" (in en). Bloomberg.com. 2021-07-15. https://www.bloomberg.com/press-releases/2021-07-15/bridge-investment-group-holdings-inc-announces-pricing-of-initial-public-offering.
9. ↑ Dorbian, Iris (2021-07-16). "Bridge Investment Group goes public" (in en-US). https://www.pehub.com/bridge-investment-group-goes-public/.
10. ↑ Machine, Weighing (2022-12-16). "Bridge Investment Group: 8% Yield & Significant Upside Potential (BRDG) | Seeking Alpha" (in en). https://seekingalpha.com/article/4564859-bridge-investment-group-8-percent-yield-significant-upside-potential.
11. ↑ James, Rod (2023-02-14). "Bridge Investment Group Moves Into Secondaries With Newbury Acquisition" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/bridge-investment-group-moves-into-secondaries-with-newbury-acquisition-bd4b3a87.
12. ↑ Manayiti, Obey Martin (2023-02-21). "Bridge's $320m acquisition of Newbury opens path to real estate secondaries" (in en-US). https://www.pehub.com/bridges-acquisition-of-newbury-offers-path-to-real-estate-secondaries/.

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