DigitalBridge Group, Inc. (NYSE: DBRG) saw its stock price decrease by 1.5% today, bringing it to a trading price of $17.81 per share. The company released a statement announcing the completion of the deconsolidation of Vantage SDC, marking a corporate transition to a pure-play alternative asset manager focused on digital infrastructure.
Marc Ganzi, CEO of DigitalBridge, expressed satisfaction with the milestone, stating, "I am pleased to report that today we are a pure-play alternative asset manager, fully aligned with our investment partners to drive long-term returns powered by the secular demand for digital infrastructure and our history of building value in the sector."
Ganzi also highlighted the significance of the deconsolidation of Vantage SDC, emphasizing that it aligns with the company's 2023 objective of simplifying its business profile and reporting structure while maintaining financial exposure to Vantage SDC's high-quality data center assets serving key power-constrained North American markets.
Following the deconsolidation, Vantage SDC becomes the sole remaining asset in DigitalBridge's operating segment, leading to the discontinuation of that segment, with investment management becoming the company's sole line of business as of December 31, 2023. The company's equity investment in Vantage SDC, representing a 12.8% ownership interest, will be carried under investments on its balance sheet.
DigitalBridge, a leading global alternative asset manager dedicated to investing in digital infrastructure, manages $75 billion of digital infrastructure assets on behalf of its limited partners and shareholders. The company is headquartered in Boca Raton, Florida, with key offices in New York, Los Angeles, London, Luxembourg, and Singapore.
The company's full 8-K submission is available here.