Company: DBRG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001679688-25-000017
Chunk: 178

Company: DigitalBridge Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 178
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itatively described. 

The ASU is effective for annual reporting periods beginning January 1, 2027 and interim reporting periods beginning January 1, 2028. Early adoption is permitted. Transition is prospective with the option to apply retrospective application. The Company is currently evaluating the effects of this new guidance. 

3. Business CombinationsInfraBridgeIn February 2023, the Company acquired the global infrastructure equity investment management business of AMP Capital Investors International Holdings Limited, which was rebranded as InfraBridge at closing. Consideration for the acquisition consisted of $314.3 million cash consideration (net of cash assumed), subject to customary post-closing working capital adjustments, plus a contingent amount based upon achievement of future fundraising targets for InfraBridge's new global infrastructure funds. The estimated fair value of the contingent consideration is subject to remeasurement each reporting period, as discussed in Note 10.The following table summarizes the total consideration and allocation to assets acquired and liabilities assumed. The initial cash consideration was determined, in part, based upon estimated net working capital of the acquired entities at closing. The Company finalized the purchase price allocation in the first quarter of 2024, as presented below. (In thousands)As ReportedAt December 31, 2023Measurement Period AdjustmentsFinalConsiderationCash$365,440 $365,440 Contingent consideration at fair value10,874 10,874 $376,314 $376,314 Assets acquired and liabilities assumed Cash51,174 51,174 Principal investments112,310 112,310 Intangible assets50,800 50,800 Other assets34,699 16 34,715 Deferred tax liabilities(10,198)(10,198)Other liabilities(30,214)373 (29,841)Fair value of net assets acquired 208,571 208,960 Goodwill167,743 (389)167,354 $376,314 $376,314 •Principal investments represent acquired interests in InfraBridge funds, valued at their most recent NAV at closing.•The intangible assets of InfraBridge were composed of the following:•Management contracts were valued based upon estimated net cash flows expected to be generated from the contracts, with remaining term of the contracts ranging between 1 and 4 years, discounted at 8.0%.

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•Investor relationships represent the fair value of potential future investment management fees, net of operating costs, to be generated from