Company: DBRG
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001679688-25-000100
Chunk: 8

Company: DigitalBridge Group, Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 2
Chunk 8
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 income in both years included gains from sale or syndication of investments and distributions of interest income from our credit funds. In particular, the year-to-date period in 2025 included $34.0 million of income distribution in connection with our participation in a secondary sale of equity by our DataBank portfolio company in February 2025, offset by a $40.3 million loss from a portfolio company of an InfraBridge fund recognized in the second quarter of 2025. This loss pertained to capital funded in prior years and realization of the loss did not affect cash flows in 2025. These realizations were accompanied by a reversal of unrealized principal investment income (loss) in the periods the realizations were recognized. In 2024, realized principal investment income also included $4.2 million of previously escrowed proceeds received from the partial sale of our interest in DataBank in prior years.

Other Income

Other income was flat at $5.4 million in the quarter-to-date comparison and decreased $2.9 million to $17.0 million in the year-to-date comparison. The decrease was driven by lower cost reimbursements from managed investment vehicles that are presented gross as income and expense ($0.8 million) and lower dividend income from equity securities of consolidated funds ($0.7 million).

Expenses

Total expenses were $23.3 million and $76.3 million for the three months ended September 30, 2025 and 2024, respectively, and $111.0 million and $428.7 million for the nine months ended September 30, 2025 and 2024, respectively. The decrease is attributed to unrealized carried interest compensation which was a higher net reversal in 2025 compared to a lower net reversal in the third quarter of 2024 and a net expense year-to-date in 2024. Additionally, 2025 had lower administrative costs.

Changes in the various expense items are discussed below.

Compensation Expense

Three Months Ended September 30,Nine Months Ended September 30,(In thousands)20252024Change20252024ChangeCash and equity-based compensation Cash compensation$40,488 $34,598 $5,890 $115,255 $110,588 $4,667 Equity-based compensation8,827 8,828 (1)27,172 35,683 (8,511)$49,315 $43,426 5,889 $