The following is a summary of the DigitalBridge Group, Inc. (DBRG) Q4 2023 Earnings Call Transcript:
Financial Performance:
DigitalBridge reported Q4 revenues of $350 million, a 29% increase from last year.
Distributable earnings stood at $18 million, equivalent to $0.10 per share.
Adjusted EBITDA rose by 88% compared to Q4 2022 to $32 million.
Assets under management jumped 52% from last year to $80 billion.
Fee-earning equity under management rose by 47% to $33 billion.
A year-over-year increase in fee revenues and fee-related earnings were seen by 59% and 64%, respectively.
A 31% increase in distributable earnings from the investment management segment was observed.
The sustaining liquidity is approximately $475 million.
Business Progress:
DigitalBridge's investment management segment showed notable growth in 2023.
The launch of flagship fund, DigitalBridge Partners III, and the deconsolidation of Vantage SDC boosted the corporate structure.
Anticipated fundraising in 2024 is expected to further bolster the company's position.
Transformation from owning real estate assets to digital infrastructure asset management simplified their financial profile.
The balance sheet was de-leveraged by over $5 billion.
Fundraising rose by 60% YoY with an increase in limited partners from 100 to 250.
Portfolio companies within digital infrastructure remained high performers.
Investment of $15 billion planned for 2024 focusing on current portfolio companies and the launch of new investment platforms.
A low but growing dividend policy was implemented.
Plans for data center expansion and employment of industry veterans to enhance renewable energy in data centers have been started.
More details: DigitalBridge Group IR
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