Company: DBRG
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001679688-25-000043
Chunk: 59

Company: DigitalBridge Group, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 59
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 a fee decrease for an InfraBridge fund following a change in fee basis from committed to invested capital effective December 2024. Operating cost was $2.1 million higher, driven largely by fund formation and offering costs as well as the effects of higher headcount. 

Distributable Earnings 

DE was $54.7 million in the first quarter of 2025 compared to $2.2 million in the same period in 2024. The significant increase can be attributed to $15.4 million of additional FRE and $35 million of realized principal investment income and our share of carried interest received from our participation in a secondary sale of equity by our DataBank portfolio company. DE also benefited from $3.1 million of lower placement fees. 

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Distributable Earnings and Fee-Related Earnings Reconciliation

Three Months Ended March 31,(In thousands)20252024Net income (loss) attributable to common stockholders$(878)$(44,288)Net income (loss) attributable to noncontrolling interests in Operating Company(7)(3,338)Net income (loss) attributable to Operating Company(885)(47,626)Transaction-related costs and non-core items (1)435 7,556 Other (gain) loss, net (2)667 6,463 Unrealized principal investment income (3)29,847 (569)Unrealized carried interest, net of associated expense (allocation) reversal (4)5,816 2,686 Equity-based compensation7,711 9,214 Depreciation and amortization expense7,226 9,167 Amortization of deferred financing costs, debt premiums and discounts524 664 Adjustments attributable to noncontrolling interests in investment entities (5)(822)557 OP share of (income) loss from discontinued operations (6)4,185 14,120 Distributable Earnings, after tax—attributable to Operating Company54,704 2,232 Realized principal investment income(34,907)(2,301)Distributed carried interest and incentive fees subject to realization events, net of associated expense allocation (4)(864)(99)Interest, dividend and other income(2,941)(4,375)Interest expense and preferred dividends18,010 19,162 Placement fee and other expenses647 3,698 Income tax (benefit) expense301 1,246 Fee-Related Earnings—attrib