Company: DBRG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001679688-25-000084
Chunk: 8

Company: DigitalBridge Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 8
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 in the periods the realizations are recognized. 

In 2024, realized principal investment income in both periods included gains from syndication of an investment and $4.2 million of previously escrowed proceeds received from the partial sale of our interest in DataBank in prior years.

Additionally, realized principal investment income in both years also included distributions of interest income from our credit funds.

Other Income

Other income decreased $1.3 million to $6.2 million in the quarter-to-date comparison and $2.9 million to $11.6 million in the year-to-date comparison. The decrease in both periods was driven by lower dividend income from equity securities of consolidated funds ($0.4 million and $1.0 million, respectively), and lower cost reimbursements from managed investment vehicles that are presented gross as income and expense ($0.6 million in both periods). Also, in the year-to-date comparison, there was lower interest income from our subordinated notes in a third party sponsored collateralized loan obligation.

Expenses

Total expenses were $32.4 million and $268.5 million for the three months ended June 30, 2025 and 2024, respectively, and $87.7 million and $352.4 million for the six months ended June 30, 2025 and 2024, respectively, with the decrease attributed to unrealized carried interest compensation which was a net reversal in 2025 compared to a net expense in 2024, and lower administrative cost.

Changes in the various expense items are discussed below.

Compensation Expense

Three Months Ended June 30,Six Months Ended June 30,(In thousands)20252024Change20252024ChangeCash and equity-based compensation Cash compensation$36,277 $34,020 $2,257 $74,767 $75,990 $(1,223)Equity-based compensation10,725 17,641 (6,916)18,345 26,855 (8,510)$47,002 $51,661 (4,659)$93,112 $102,845 (9,733)Incentive fee and carried interest compensation allocation (reversal)$(43,372)$178,430 (221,802)$(65,676)$171,716 (237,392)

Cash and equity-based compensation—Cash compensation was largely consistent in the periods under comparison. 

Equity-based compensation was lower in both