Company: DBRG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001679688-25-000084
Chunk: 78

Company: DigitalBridge Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 78
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59,801)$16,084 $32,475 (16,391)

38

Revenues

Total revenues were negative $3.2 million in the second quarter of 2025 and positive $390.3 million in the same period in 2024, and $42.2 million and $464.7 million in the six months ended June 30, 2025 and 2024, respectively. The large swings in total revenues were driven by significant variability in unrealized carried interest, specifically a large net reversal in 2025 and net positive allocations in 2024. Additionally, there were increases to fee revenue, driven mainly by additional capital raised for our third flagship fund.

The key components of revenue are discussed in more detail below. 

Fee Revenue

Three Months Ended June 30,Six Months Ended June 30,(In thousands)20252024Change20252024ChangeManagement fees $84,373 $75,687 $8,686 $174,233 $147,531 $26,702 Incentive fees600 1,651 (1,051)606 2,532 (1,926)Other fee revenue289 1,267 (978)562 1,497 (935)$85,262 $78,605 6,657 $175,401 $151,560 23,841 

Fee revenue increased $6.7 million or 8% to $85.3 million in the quarter-to-date comparison and $23.8 million or 16% to $175.4 million in the year-to-date comparison.  

The increases in both the quarter-to-date and year-to-date comparisons were driven by (i) additional capital raised for our third flagship fund, which contributed incremental management fees of $8.5 million and $29.1 million (of which $10.6 million were catch-up fees), respectively, and (ii) deployment of capital by various funds and co-investment vehicles, partially offset by (iii) lower management fees from an InfraBridge fund following a change in fee basis from committed to invested capital effective late December 2024 (decreased $4.4 million and $8.3 million, respectively).  

Year over year, FEEUM increased $7.0 billion or 21% to $39.7 billion at June 30, 2025 from $32.7 billion