Company: DBRG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001679688-25-000084
Chunk: 11

Company: DigitalBridge Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 11
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 interest; and our general partner and general partner affiliate capital committed to our funds. AUM is largely determined based upon invested capital as of the reporting date, including capital funded through third party financing at the underlying portfolio companies; and committed capital for funds in their commitment stage. Our AUM is not based upon any definitions that may be set forth in the governing documents of our managed funds or other investment vehicles, and not calculated pursuant to any regulatory definitions.

Fee Earning Equity Under Management

FEEUM represents the total capital managed by the Company and its affiliates which earns management fees and/or incentive fees or carried interest. FEEUM is generally based upon committed capital, invested capital, NAV or gross asset value ("GAV"), pursuant to the terms of each underlying investment management agreement.

Presented below are total AUM and FEEUM by product:

(In billions)June 30, 2025December 31, 2024Assets Under Management$105.6$95.6Fee Earning Equity Under ManagementDBP Series$17.3$15.9Co-Investment Vehicles14.811.5InfraBridge3.73.7Core, Credit and Liquid Strategies2.73.2Separately Capitalized Portfolio Companies1.21.2$39.7$35.5

The following table summarizes changes in FEEUM:

Six Months Ended June 30, 2025(In billions)Fee Earning Equity Under ManagementBalance at January 1$35.5 Inflows (1)5.4 Outflows (2)(1.2)Market activity (3)— Balance at June 30$39.7 

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(1)    Inflows include closing on new capital raised where fees are earned on committed capital, deployment of capital where fees are earned on invested capital, new subscriptions where fees are based on NAV, other changes in invested capital such as the effect of recapitalization and syndication, and FEEUM from acquired investment vehicles. 

(2)    Outflows include redemptions and withdrawals in Liquid Strategies, realizations where fees are based on invested capital, other changes in invested capital such as the effect of recapitalization and syndication, change in fee basis from committed to invested capital, permanent write-down in investment values, and expiration of fee paying capital.

(3)    Market activity includes changes in investment value based on NAV or GAV, and the effect of foreign exchange rates. Amount was less than $100 million in the