Company: DBRG
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001679688-25-000100
Chunk: 86

Company: DigitalBridge Group, Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 86
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$(54,000)$(8,474)(45,526)$(119,676)$163,242 (282,918)

Cash and equity-based compensation—The increase in cash compensation for both periods under comparison is driven by higher accruals of performance based incentive compensation. 

Equity-based compensation was flat in the quarter-to-date comparison, and lower in the year-to-date comparison as 2024 included performance-based awards that fully vested in 2024.

Incentive fee and carried interest compensation allocation—For both quarter-to-date and year-to-date periods under comparison, the net reversal of compensation in 2025 and net expense in 2024 are consistent with the changes in carried interest, as discussed above. 

43

Administrative and Other Expenses

Administrative and other expenses decreased $12.1 million to $15.1 million in the quarter-to-date comparison and $35.5 million to $42.5 million in the year-to-date comparison. The decrease in both periods can be attributed largely to insurance recoveries in 2025 related to litigation costs incurred in prior periods ($4.0 million and $22.2 million, respectively) and lower third party professional service costs, including reimbursable costs incurred on behalf of our managed investment vehicles. The decrease in both periods were partially offset by costs incurred for potential new products ($1.1 million and $5.6 million, respectively).

Interest Expense

Interest expense increased $0.6 million to $4.7 million in the quarter-to-date comparison and $0.7 million to $13.2 million in the year-to-date comparison. The increase in both periods reflect $1.1 million of interest expense on fund-level debt that was consolidated in the third quarter of 2025. In the quarter-to-date comparison, this was partially offset by lower deferred financing costs ($0.5 million) following a reduction in the VFN borrowing capacity in June 2025. In the year-to-date comparison, interest expense also decreased due to the full exchange/redemption of the remaining 5.75% exchangeable senior notes in April 2024 ($0.4 million).

Transaction-Related Costs

Transaction-related costs decreased $0.8 million to $1.0 million in the quarter-to-date comparison and increased $6.4 million to $9.6 million in the year-to-date comparison due to unconsummated deal cost.

Depreciation and Amortization

Depreciation and amortization