DigitalBridge has recently released its 10-K report, detailing its financial performance and operations for the year. DigitalBridge, an infrastructure investment firm, specializes in digital infrastructure assets and serves institutional investors. The company primarily invests in data centers, cell towers, fiber networks, small cells, and edge infrastructure. In 2024, DigitalBridge raised $9.0 billion of capital, reduced its leverage with the full exchange/redemption of its remaining $78 million of 5.75% senior notes, and completed the monetization of marketable equity securities for total net proceeds of $43 million. The company also received proceeds of approximately $59 million in connection with its participation in a secondary sale of equity by its DataBank portfolio company and approximately $1 million of net carried interest.
The company's performance metrics for its key investment funds from inception through December 31, 2024, are presented in the table below:
| Fund | Inception Date | Total Commitments | Invested Capital | Available Capital | Investment Value | MOIC | IRR | | -- | -- | -- | -- | -- | -- | -- | -- | | DBP I | Mar-2018 | $4,059 | $4,838 | $206 | $6,262 | 1.6x | 13.9% | | DBP II | Nov-2020 | $8,286 | $7,933 | $920 | $9,659 | 1.3x | 11.9% | | CoreSAF | Nov-2022 | $1,110 | $996 | $148 | $1,061 | 1.1x | 6.3% | | InfraBridge GIF I | Mar-2015 | $1,411 | $1,504 | $388 | $1,246 | 1.6x | 8.9% | | GIF II | Jun-2018 | $3,382 | $3,151 | $28 | $2,238 | 0.8x | <0% | | Credit I | Dec-2022 | $697 | $455 | $418 | $312 | 1.1x | 10.0% |
In 2024, DigitalBridge's total revenues were $607.0 million, a decrease from $821.4 million in 2023. This decrease was driven by variability in unrealized carried interest and principal investment income, despite a $65.6 million increase in fee revenue. Fee revenue increased by $65.6 million, with management fees and other fee revenue contributing to the rise.
Total expenses for DigitalBridge were $496.9 million in 2024, down from $551.9 million in 2023. The decrease was primarily due to lower compensation expense, including unrealized carried interest compensation, partially offset by higher administrative costs. Compensation expense, including cash and equity-based compensation, and incentive fee and carried interest compensation allocation, decreased in 2024 compared to 2023.
Following these announcements, the company's shares moved -0.7%, and are now trading at a price of $12.16. If you want to know more, read the company's complete 10-K report here.
