DigitalBridge

Last updated
DigitalBridge Group, Inc.
FormerlyColony Capital (1991–2021)
Company type Public
Industry Investment
Digital infrastructure
Founded1991;33 years ago (1991)
Founder Tom Barrack
Headquarters Boca Raton, Florida, U.S.
Key people
ProductsTowers, Data centers, Small cells, Fiber, Edge infrastructure, Investment management, Digital operating
AUM $84 billion (January 2024)
Website digitalbridge.com

DigitalBridge Group, Inc. is a global digital infrastructure investment firm. The company owns, invests in and operates businesses such as cell towers, data centers, fiber, small cells, and edge infrastructure. Headquartered in Boca Raton, DigitalBridge has key offices in Los Angeles, New York, London, and Singapore.

Contents

In 2010, DigitalBridge, then still Colony Capital, was reported to manage about $30 billion in investments. [1] [2]

History

Recent investments

On December 20, 2021, DigitalBridge sold the bulk of its Other Equity & Debt of real estate assets to Fortress Investment Group, LLC. The total net value realized from the sale is $506.8 million, including $443.4 million received at closing, $31.2 million of net cash for asset monetizations between the sale and close, and $32.2 million of future payments. [3]

DigitalBridge closed its second flagship fund with $8.3 billion in commitments in early 2022. [4]

In April 2022, DigitalBridge bought out Wafra's stake in its investment management subsidiary for $800 million and switched from REIT to traditional C-Corp. [5] DigitalBridge announced and initiated several acquisitions during 2022 including AMP Capital's global infrastructure equity investment management business for $328 million and Switch, Inc., a Dallas-based data center company, for $11 billion. [6] [7] [8] The firm sold 27 percent of its stake in DataBank to Swiss Life and EDF Invest for $1.2 billion. DigitalBridge said it would own 15.5 percent of DataBank after the sale. [9]

In March 2022, DigitalBridge led a $60 million Series C funding round in Celona, an enterprise IT infrastructure company. [10] In April, DigitalBridge led a $385 million funding round for UK fiber startup Netomnia. [11] That June, DigitalBridge acquired Telenet's 3,300 telecommunication towers in Belgium, valued at 745 million euros. [12]

In August 2022, DigitalBridge and Columbia Capital formed Xenith Infrastructure Group, a fiber platform serving key Asia-Pacific markets. [13] In 2023, DigitalBridge purchased 51% of Deutsche Telekom's tower business. [14]

In February 2023, DigitalBridge completed the acquisition of AMP Capital's global infrastructure equity investment management business. [15]

In July 2023, Aware Super invested $500m into DigitalBridge owned data center firm Switch Inc. [16] [17]

In September 2023, DigitalBridge completed the recapitalization of Databank, receiving $219 million in additional commitments in the final closing, totaling recapitalization commitments at $2.2 billion. [18] That same November, DigitalBridge sold 40% of Landmark Dividends to the Abu Dhabi Investment Authority. [19] That month AustralianSuper invested $1.5 billion into Vantage Data Centers. [20]

In November 2023, DigitalBridge sold 40% of Landmark Dividends to the Abu Dhabi Investment Authority. That same month the company secured $1.1 billion for its digital credit fund. [21] [22]

In December 2023, Surf Internet secured $200 million from DigitalBridge to support continued network expansion across the Great Lakes Region. [23] In January 2024, Intel announced it was forming a new independent company around its artificial intelligence software with the backing of DigitalBridge. [24] Also in January, DigitalBridge purchased stake in Vantage Data Centers for a high valuation. [25]

Early investments

Colony purchased Raffles International on July 18, 2005. This included the 41 hotels and resorts operated under the Raffles Hotel and Swissotel brand names. On January 30, 2006, it acquired Fairmont Hotels and Resorts of Toronto, Ontario with Kingdom Hotels International as a joint partner for US$3.24 billion.[ citation needed ] On April 10, 2006, it acquired French professional football team Paris Saint-Germain. [26]

On February 25, 2007, it signed a definitive agreement to take Station Casinos private in a 75%/25% split with members of the founding Fertitta family for US$5.5 billion, or US$90/share. The subsequent economic downturn caused Station Casinos to declare bankruptcy in 2009, and when it emerged in 2011 Colony Capital owned a much smaller portion after providing more cash. [27] [28] [29] Founder, Chairman, and CEO Thomas Barrack said it "could have been the worst investment ever" in terms of timing. [30]

On November 11, 2008, Michael Jackson transferred the title of his 2,700 acre [1] estate Neverland Ranch to Sycamore Valley Ranch Company LLC, a joint venture between Jackson (represented by attorney, L. Londell McMillan) and an affiliate of Colony Capital. [31] [32] [33] [34] It is still unclear whether Colony Capital has a part in the property. [35] Jackson earned a total of US$35 million when he agreed to the joint venture between himself and Colony Capital. [36] [37]

In March 2010, Colony arranged a financing and marketing package for Annie Leibovitz. The New York celebrity photographer had been in financial difficulty and in danger of losing to her previous lender, ArtCapital, the rights to her photographs and negatives and her three Greenwich Village townhouses. ArtCapital's credit was for $24 million. [1] In December 2010, Colony purchased Miramax from Disney with Qatar Investment Authority, Tutor-Saliba Corporation and The Weinstein Company as part of a joint venture called Filmyard Holdings for $663 million. [38] [39]

In January 2017, Colony NorthStar, Inc. (NYSE: CLNS) was formed through a tri-party merger between Colony Capital, Inc. (NYSE:CLNY), NorthStar Asset Management Group Inc. (NYSE:NSAM) and NorthStar Realty Finance Corp. (NYSE:NRF). [40]

In September 2017, Colony NorthStar agreed to sell its Townsend Group unit to Aon for $475 million. [41]

In October 2017, Colony entered discussions to purchase The Weinstein Company, a movie and TV production studio that sustained damage after its co-founder, Harvey Weinstein, was accused of multiple counts of sexual harassment over three decades. [42] In the wake of the Harvey Weinstein sexual assault scandal, in late October 2017, it was reported that Colony Capital LLC had proved hesitant to purchase Weinstein Co. after a week of exclusive negotiations. Fortress Investment Group was also in talks to provide a loan to Weinstein Co. [43]

In June 2018, The New York Times reported that Colony North Star had raised more than $7 billion in investments since Donald Trump won the 2016 presidential election. [44] 24 percent of the money came from the United Arab Emirates and Saudi Arabia. [44]

Leadership

Senior Executives

Related Research Articles

The Carlyle Group Inc. is an American multinational company with operations in private equity, alternative asset management and financial services. As of 2023, the company had $426 billion of assets under management.

<span class="mw-page-title-main">Kohlberg Kravis Roberts</span> American investment manager

KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company. As of December 31, 2023, the firm had completed private equity investments in portfolio companies with approximately $710 billion of total enterprise value. Its assets under management (AUM) and fee paying assets under management (FPAUM) were $553 billion and $446 billion, respectively.

<span class="mw-page-title-main">Blackstone Inc.</span> American alternative investment company

Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter Peterson and Stephen Schwarzman, who had previously worked together at Lehman Brothers. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate across the globe. Blackstone is also active in credit, infrastructure, hedge funds, secondaries, growth equity, and insurance solutions. As of May 2024, Blackstone has more than US$1 trillion in total assets under management, making it the world's largest alternative investment firm.

<span class="mw-page-title-main">EQT AB</span> Swedish investment firm

EQT AB is a Swedish global investment organization founded in 1994. Its funds invest in private equity, infrastructure, real estate, growth equity, and venture capital in Europe, North America, and Asia Pacific.

Bain Capital, LP is an American private investment firm based in Boston, Massachusetts, with around $185 billion of assets under management. It specializes in private equity, venture capital, credit, public equity, impact investing, life sciences, crypto, tech opportunities, partnership opportunities, special situations, and real estate. Bain Capital invests across a range of industry sectors and geographic regions. The firm was founded in 1984 by partners from the consulting firm Bain & Company. The company is headquartered at 200 Clarendon Street in Boston with 22 offices in North America, Europe, Asia, and Australia.

<span class="mw-page-title-main">Federated Hermes</span> American financial services company

Federated Hermes is an investment manager headquartered in Pittsburgh, Pennsylvania, United States. Founded in 1955 and incorporated on October 18, 1957, the company manages $758 billion of customer assets, as of Dec. 31, 2023. The company offers investments spanning equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies, including mutual funds, exchange-traded funds (ETFs), separate accounts, closed-end funds and collective investment funds. Clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers.

<span class="mw-page-title-main">Oaktree Capital Management</span> American global asset management firm

Oaktree Capital Management, Inc. is an American global asset management firm specializing in alternative investment strategies. As of September 30, 2024, the company managed $205 billion for its clientele.

<span class="mw-page-title-main">Intercontinental Exchange</span> American exchange and clearing house company

Intercontinental Exchange, Inc. (ICE) is an American multinational financial services company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada, and Europe; the Liffe futures exchanges in Europe; the New York Stock Exchange; equity options exchanges; and OTC energy, credit, and equity markets.

Fortress Investment Group, LLC is an American investment management firm based in New York City. It was founded as a private equity firm in 1998 by Wes Edens, Rob Kauffman, and Randal Nardone.

Silver Lake Technology Management, L.L.C., is an American global private equity firm focused on technology and technology-enabled investments. Silver Lake is headquartered in Silicon Valley and New York, and has offices in London, Hong Kong, and Singapore.

<span class="mw-page-title-main">Actis Capital</span> British investment firm focused on the private equity

Actis LLP is a global investment firm focused on sustainable infrastructure, in particular the energy, infrastructure, and real estate asset classes.

<span class="mw-page-title-main">Partners Group</span> Swiss-based global private equity firm

Partners Group Holding AG is a Swiss-based global private equity firm with US$149 billion in assets under management in private equity, private infrastructure, private real estate and private debt.

Solera Inc is an American company based in Texas which provides risk management and asset protection software and services to the automotive industry and property insurance marketplace. Solera also provides digital identity management services, as well as re-underwriting and data analytics for the automotive, property and casualty insurance industries. Solera is active in 88 countries across six continents.

<span class="mw-page-title-main">Starwood Capital Group</span> American private equity and investment firm

Starwood Capital Group is an investment firm headquartered in Miami Beach, Florida. It is managed by Barry Sternlicht. It was co-founded by Sternlicht and Robert Faith in 1991. In 1993, Faith left Starwood to found Greystar Real Estate Partners.

Thomas Joseph Barrack Jr. is an American private equity real estate investor and the founder and executive chairman of Colony Capital, a publicly traded real estate investment trust (REIT). Barrack has for decades been a close friend of and fundraiser for former U.S. President Donald Trump, representing him in television news appearances. He was senior advisor to Trump's 2016 presidential campaign and served as the chairman of his Inaugural Committee.

<span class="mw-page-title-main">WisdomTree Investments</span> U.S. ETF and ETP asset manager company

WisdomTree, Inc. is a global exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor and asset manager with headquarters in New York. WisdomTree launched its first ETFs in June 2006, and became one of the major ETF providers in the United States. WisdomTree sponsors different ETFs that span asset classes and countries worldwide. Categories include: U.S. and International Equity, Currency, Fixed Income and Alternatives.

<span class="mw-page-title-main">Ardian (company)</span> Private equity investment company

Ardian is a France-based, independent private equity investment company, founded and managed by Dominique Senequier. It is one of the largest European-headquartered private equity funds. The company was originally set up by Dominique Senequier in 1996 as the AXA Group's private equity division, but later gained independence in 2013, and rebranded itself as Ardian. The name Ardian (ar・di・an) was inspired by an ancient European language in which 'hardjan' mean strength, durability, and boldness. Ardian manages assets worth US$150 billion in Europe, North America and Asia, and has fifteen offices. The firm offers a funds of funds, direct funds, infrastructure, private debt and real estate, and manages a direct portfolio of more than 150 companies. Its fund of funds segments owns stakes in over 1500 funds. Ardian's 880 investors include institutional investors, funds of funds, government agencies, sovereign funds, family offices, pension funds and insurance companies). The firm has been ranked one of the largest companies by amount raised in equity by Private Equity International, and was named "Company of the Year" 2013 by the readers of Private Equity International.

Sixth Street is a global investment firm with around $75 billion in assets under management. The firm operates nine investment platforms across its growth investing, adjacencies, direct lending, fundamental public strategies, infrastructure, special situations, agriculture and par liquid credit businesses. Sixth Street invests in the equity and debt of public and private companies, acquires real estate, finances infrastructure projects, and provides start-up capital to new businesses. Sixth Street has been noted in the financial media for the unusual structure of its largest fund, which is open-ended and able to hold longer-term investments.

<span class="mw-page-title-main">Antin Infrastructure Partners</span>

Antin Infrastructure Partners is a private equity firm with offices in Paris, London, New York, Luxembourg and Singapore. It has EUR 30.6 billion in assets under management as of December 2022. Antin invests in the energy & environment, digital technology, transportation, and social infrastructure sectors.

Blue Owl Capital Inc. is an American alternative investment asset management company. It is listed on the New York Stock Exchange under the ticker symbol: "OWL".

References

  1. 1 2 3 "Private equity firm snaps up chance to help Leibovitz put house in order" by Henny Sender, Financial Times, March 9, 2010 02:00, Retrieved 2010-03-09.
  2. Perenews.com Archived 2011-06-26 at the Wayback Machine
  3. "Fortress Announces Completed Acquisitions of DigitalBridge and BrightSpire Capital Assets for Total Consideration of Nearly $730". Bloomberg. Retrieved 3 July 2023.
  4. "DigitalBridge surpasses its fund target by over $2.3 billion in commitments". Wireless Estimates. Retrieved 10 August 2023.
  5. "DigitalBridge buys out Wafra's stake in its investment management subsidiary for $800 million". datacenterdynamics.com. Data Center Dynamics. 20 April 2022.
  6. "DigitalBridge & IFM complete Switch Inc acquisition". Data Center Dynamics. Retrieved 21 June 2023.
  7. Swinhoe, Dan. "DigitalBridge acquires infrastructure equity business from AMP subsidiary, becomes investment manager for Expedient". www.datacenterdynamics.com. Retrieved 2022-08-01.
  8. Wack, Chris (2022-05-11). "DigitalBridge, IFM Buying Data Center Company Switch for $11 Billion". Wall Street Journal. Retrieved 2022-08-01.
  9. "DigitalBridge to sell stake in data center platform DataBank for $1.2 bln". www.bloomberg.com. 2022-06-16. Retrieved 2022-08-01.
  10. "DigitalBridge Backs Celona in $60m Series C Round from Ventures Strategy". Dgtl Infra. Retrieved 10 August 2023.
  11. "U.K. Fiber Startup Netomnia Raises $385 Million to Battle BT". Bloomberg. Retrieved 10 August 2023.
  12. "DigitalBridge Buys Telenet's 3.3k Towers in Belgium at €745m Valuation". Dgt Linfra. Retrieved 20 July 2023.
  13. "DigitalBridge and Columbia Capital Launch Xenith IG Fiber Platform in Asia-Pacific". Bloomberg. Retrieved 3 July 2023.
  14. "Deutsche Telekom finalizes majority sale of GD Towers to Brookfield and DigitalBridge". Data Center Dynamics. Retrieved 20 July 2023.
  15. "DigitalBridge Completes Acquisition of AMP Capital's Global Infrastructure Equity Investment Management Business". Yahoo Finance. Retrieved 27 November 2023.
  16. "Aware Super invests $500m in US-based data centre platform via DigitalBridge". IPE Real Assets. Retrieved 27 November 2023.
  17. "Aware Super invests $500 million into Switch Inc". Data Center Dynamics. Retrieved 27 November 2023.
  18. "DigitalBridge Completes DataBank Recapitalization". Yahoo Finance. Retrieved 27 November 2023.
  19. "DigitalBridge to sell 40% of Landmark Dividend to ADIA". IPE Real Assets. Retrieved 27 November 2023.
  20. "AustralianSuper invests €1.5 billion in Vantage Data Centers EMEA". Data Center Dynamics. Retrieved 16 January 2024.
  21. "Abu Dhabi Investment Authority acquires 40% stake in DigitalBridge's Landmark Dividend". Data Center Dynamics. Retrieved 16 January 2024.
  22. "DigitalBridge's inaugural digital infrastructure credit strategy secures $1.1bn". IPE Real Assets. Retrieved 16 January 2024.
  23. "Surf Internet Secures Upsized $200 million Debt Facility to Support Continued Network Expansion Across the Great Lakes Region". Yahoo Finance. Retrieved 13 March 2024.
  24. "Intel spins out AI software firm with backing from DigitalBridge". Reuters. Retrieved 13 March 2024.
  25. "New Data-Center Property Investment Signals AI Boom". WSJ. Retrieved 13 March 2024.
  26. "Paris Saint-Germain changes hands". bbc.co.uk. BBC News. 11 April 2006. Retrieved 16 October 2017.
  27. "Station Casino Family to Remain in Control". The Wall Street Journal. August 7, 2010.
  28. Weinberger, Evan. "Lenders, Colony Capital To Acquire Station Casinos - Law360". www.law360.com. Retrieved 2019-04-25.
  29. Jinks, Beth; Church, Steven (June 17, 2011). "Station Casinos Exits Bankruptcy After Almost Two Years in Chapter 11". Bloomberg.
  30. Perenews.com
  31. Taletela.com, Michael Jackson's Neverland ranch is sold Archived July 27, 2009, at the Wayback Machine
  32. "Neverland May Be Jacko's Ticket to Vegas". TMZ. Retrieved 2019-04-25.
  33. Ukpress.google.com, Jacko gives up Neverland ranch deed Archived December 15, 2008, at the Wayback Machine
  34. News.yahoo.com, Michael Jackson gives Neverland to corporation
  35. Sbcvote.com Archived 2016-06-11 at the Wayback Machine
  36. "Entertainment News, Celebrity News, Celebrity Gossip | E! News". E! Online. Retrieved 2019-04-25.
  37. "Neverland peters out for pop's Peter Pan". The Sydney Morning Herald. 2008-11-13. Retrieved 2019-04-25.
  38. Ben Fritz (December 6, 2010). "The Business Behind the Show". Los Angeles Times .
  39. Claudia Eller (December 3, 2010). "The Business Behind the Show". Los Angeles Times .
  40. "Document".
  41. Roumeliotis, Greg. "Aon to buy real estate investment firm Townsend from Colony NorthStar". Reuters. No. 1 Sept 2017. Reuters. Archived from the original on September 2, 2017. Retrieved 5 September 2017.
  42. Roumeliotis, Greg (16 October 2017). "Colony Capital in talks to buy Weinstein Co". reuters.com. Reuters. Archived from the original on 16 October 2017. Retrieved 16 October 2017.
  43. Fritz, Ben (October 25, 2017). "Colony Capital's Talks to Acquire Weinstein Co. Hit Snag". The Wall Street Journal . New York City, United States. Retrieved October 26, 2017.
  44. 1 2 "Who Is Behind Trump's Links to Arab Princes? A Billionaire Friend" . Retrieved 2018-06-13.