DBRIPNYSEInvestment AdviceUS GAAP · USD

DigitalBridge Group, Inc.

DigitalBridge Group is an investment manager focused on digital infrastructure assets and businesses, including data centers, cell towers, fiber networks, small cells and edge infrastructure. It raises capital from institutional investors and deploys it through private equity, core equity, credit and liquid strategies across the digital ecosystem.

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Revenue94.0m USD
−84.5 %y/y
Net income142m USD
+101.2 %y/y
Free cash flow258m USD
+356.3 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

02505007501,0001,250m USD2020: 1,237 m USD20202021: 966 m USD20212022: 695 m USD20222023: 821 m USD20232024: 607 m USD20242025: 94 m USD202594
RevenueOperating profit (EBIT)

Business

Share of revenue
Value-add digital infrastructure funds45 %

Commingled funds that invest in and build businesses across digital infrastructure.

Core equity20 %

Stabilized digital infrastructure assets with long-duration cash flow and current yield.

Credit strategies15 %

Private credit and financing products for digital infrastructure borrowers globally.

Liquid strategies10 %

Long-only, long-short and market-neutral public equity strategies tied to digital infrastructure and adjacent sectors.

InfraBridge and other strategies10 %

Mid-market infrastructure and digital-adjacent investing, including energy and logistics exposure.

Products

Reported · share of revenue
99.8%FY2025100 %
  • Management Service99.8 %
  • Management Service Other0.2 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

DigitalBridge sells primarily to institutional investors that allocate capital to alternative assets, including pensions, sovereign wealth funds, insurers, asset managers and endowments. Its underlying portfolio companies and borrowers are digital infrastructure operators that need equity capital, acquisition financing, refinancing or structured credit to expand networks and platforms.

Institutional fund investors

Pensions, sovereign wealth funds, insurers, endowments and asset managers that commit capital to DBP and related funds for digital infrastructure exposure.

Digital infrastructure operators

Data center, tower, fiber, small cell and edge infrastructure businesses that receive equity or credit capital to grow, refinance or acquire assets.

Corporate borrowers in digital infrastructure

Companies seeking first-lien, second-lien, mezzanine or preferred-equity financing through DigitalBridge Credit.

Public market investors

Investors in liquid strategies that seek exposure to undervalued digital infrastructure, real estate and technology-media-telecom names.

Strategy

DigitalBridge is building a multi-strategy platform around digital infrastructure, using its fund franchise to raise capital, expand fee-earning assets and deepen relationships with operators and institutional allocators. The firm also emphasizes proprietary deal sourcing, balance-sheet structuring and capital solutions across the capital stack, which helps it compete for transactions and support portfolio growth.

Raise and deploy capital into flagship fundsShort term

Higher fund commitments increase management fees and support platform scale.

Broaden product mix across equity, credit and liquid strategiesMedium term

Diversification reduces reliance on any single fund cycle and widens the addressable investor base.

Source proprietary digital infrastructure transactionsMedium term

Proprietary access can improve entry pricing and reduce auction competition.

Increase portfolio company value through capital structure managementMedium term

Optimized leverage and financing can improve returns and resilience for underlying assets.

Geography

The company is headquartered in Boca Raton, Florida, with key offices in New York, London, Luxembourg and Singapore, which supports sourcing and fundraising across North America, Europe and Asia. Its investment activity is global, but the core equity strategy emphasizes more developed geographies while credit and value-add funds can invest across regions where digital infrastructure demand is growing.

Risks

Results are highly sensitive to fundraising, asset valuations and carried interest, which can swing sharply with market conditions and portfolio marks. The company also faces execution risk from its pending SoftBank acquisition, cybersecurity exposure, and the usual risks of managing illiquid, levered infrastructure assets across multiple jurisdictions.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Merger with SoftBank may fail or be delayed1Volatility in unrealized carried interest2Cybersecurity and third-party systems risk3Fundraising and capital deployment risk4Valuation and leverage risk in portfolio companies5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Merger with SoftBank may fail or be delayedImpact: HighLikelihood: Medium

    The transaction is subject to stockholder approval and customary closing conditions, so completion is not guaranteed.

    Exposure: Corporate transaction and strategic uncertainty

  2. Volatility in unrealized carried interestImpact: HighLikelihood: Medium

    Revenue includes mark-to-market carried interest that can reverse when portfolio values change.

    Exposure: Earnings and reported revenue

  3. Cybersecurity and third-party systems riskImpact: HighLikelihood: Medium

    The business relies on internal and outsourced IT systems and processes sensitive investor and portfolio data.

    ExposureOperationsComplianceReputation
  4. Fundraising and capital deployment riskImpact: MediumLikelihood: Medium

    Management fees depend on capital raised and fee-earning AUM, so slower fundraising can pressure growth.

    Exposure: Fee revenue and platform scale

  5. Valuation and leverage risk in portfolio companiesImpact: MediumLikelihood: Medium

    Digital infrastructure assets often use leverage and fair-value marks, which can magnify downside in weaker markets.

    Exposure: Fund returns and carried interest

Accounting

Judgemental items
Unrealized carried interest valuation

This is the main driver of revenue volatility and can reverse when portfolio marks change.

Impact: Reported revenue and operating income can swing sharply between periods

Fee-earning equity under management

Management fees are tied to FEEUM and fundraising timing, including catch-up fees.

Impact: Fee revenue growth depends on capital raises and fee basis changes

Fair value measurement of investments

Illiquid digital infrastructure holdings require judgmental valuation inputs.

Impact: Affects realized/unrealized investment income and carried interest

Consolidation and noncontrolling interests

The company presents results net of amounts attributed to noncontrolling interests in certain cases.

Impact: Can materially affect reported fee revenue, DE and FRE presentation

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Last updated: 24/09/2026

DigitalBridge Group, Inc. (NYSE) – Investment Advice | Financial Analysis – Clarifo