On February 15, 2023, Bridge Investment Group Holdings Inc. announced an agreement to acquire Newbury Partners LLC.
Under the terms of the transaction, Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge”) announced its planned acquisition of Newbury Partners LLC (“Newbury”). Bridge will acquire Newbury in an all-cash transaction for approximately $320 million. Newbury’s management team will remain in place post-closing. The transaction is subject to standard regulatory review and is expected to close in the first half of 2023.
Bridge, based in Salt Lake City, is a real estate investment manager with approximately $43 billion in assets under management.
Newbury, based in Stamford, CT, is an investor in the private equity secondaries market, with a focus on acquiring limited partnership interests in buyout, growth equity and venture capital funds. Newbury manages over $4.3 billion in committed capital. Berkshire Global Advisors served as financial advisor to Newbury during the transaction.
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