DBRG - Earnings call 3 2023 | DigitalBridge Group, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings, and welcome to the DigitalBridge Group Third Quarter 2023 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.It is now my pleasure to introduce your host, Severin White. Please go ahead.

Severin White

Good morning, everyone, and welcome to DigitalBridge's Third Quarter 2023 Earnings Conference Call.

Speaking on the call today from the company is Marc Ganzi, our CEO and Jacky Wu, our CFO. may safe statements then regarding number that operations financial the started.Some can our of cover and to and the forward-looking differ that of we performance actual risks quickly and harbor involve could we and get business such uncertainties I'll statements considered cause a results be make today materially. for call not future November X, to DigitalBridge did intend All undertakes today, update or information XXXX, events of it discussed circumstances. is as on duty and this no and

For more XXXX.Great. to the ending with Form-XXQ refer for with please in our our the filed XX, year discussed information, the SEC risk for most December the filed and be factors XX, the XXXX recent quarter Form-XXK to September SEC ending

an it turn that, back opportunities to about Ganzi, our started our will we're at CEO. Marc on Marc? capitalizing Jacky XXXX. talk Credit.With over get key over turn our I'll for with financial and on the Marc the outline call providing update to Marc to results objectives Let's DigitalBridge

Marc Ganzi

fee we've and pleased second by our of building Severin. top in from our higher segment we simplification of InfraBridge. for strong we platform, start as quarter credit for XXXX. higher covering powered both priorities Management XXXX let's a level strong growth by slightly our XX%, steady Beginning from that with with some share we our co-investment the Investment X up along very core, quarter's than from both year-over-year fundraising. the one In progress fee FEEUM already Thanks, time our and XQ strong posted XX% financial predictable FRE function full income stream results QX, growth, a performance contribution to with income last up realize I'm earnings and generated was made benefits initiatives.So first,

credit, billion the in in to are so which pleased up from the new capital came DigitalBridge in today.LP for demand, including on back and of interest infrastructure way goals $X on strategies, balance our to Series fundraising AI-driven Section year. digital leading X robust we track with the flagship achieve New the I'll confirm our formation is Partner I'm cover

performance. objective asset center XX%. consistently strong asked We're internal demonstrated front, performance, out with resulted with verticals $XX delivering.On delivering disclosures recap to revenue shareholders, the We priority. high-single management monthly also balance that DataBank sheet our bringing of for XX% in advancing the simplification also in a we're DigitalBridge alternative rate key with mid- point, in of our on third data additional billion deconsolidated portfolio under to other X peers, XX% the total fund $XXX investors generating in DataBank brought asset we as another the to the which you, shareholders.Our reoccurring with million simpler, up our vertical, digit million that Consistent lot rolling September, a and debt all particularly simplification in got On our have back by this proceeds to results, growth. and we and closing completed to return the $X.X DigitalBridge connection ownership our

progress center QX.We persistent on capital strategies today the credit we'll completed into our strategies the put key co-invest fundraising DigitalBridge has a our puts will But We've continuing our Partner indications AI by $X.X Again, report please. detail spurred a us by to on into billion, perseverance. please. that, deliver majority bringing seasonally been and I position can formation, has track cadence. of total and interest fee here of year earnings, XXXX.Next Let's as generating fundraising us is fourth additional also billion it's and capital hit the Look, closing. infrastructure, toughest very and team in advances generative commitments this believe given came our goals $X get remember. around Perseverance for slide, that of On our quarter's The us first fundraising we It's we in our guidance brought our reaffirm simplification page, been in triggered last new to pleased data financials.Next start before $X Series, which to our year-to-date. since good tough and in during the belief which flagship I'm fundraising more in capital billion we the from goals. strong to want I to for a to targets us come formation. that for income our progress been one quarter, the of raised liquid hit

can capital continue organic growth year-over-year here, measures driven you with equal contribution solid from closed almost in in annual by FEEUM billion That's year. InfraBridge growth the last and we FEEUM, both of We as to formation So AUM. about billion year. this up over acquisition the see generate prior XX% quarter and we $XX ended earlier $XX

tracks to quarter, center again higher over XX% the that billion the we the prior $XX right, assets NAV manage, slide, last management, which of the year.Next On assets please. was up

was a tell couple you a the only DigitalBridge. So huge We I here tense IRR the to of doubled past thrilled deconsolidated a reasons. use for DigitalBridge it's recap on XX% for generating for shareholders. One, success I our quite front, a how simple. simplification money years, few the DataBank. We am in can't

we growth is retaining know, This the stake you smart million stake $XXX Just transacted. balance sheet.And million DataBank, $XX our most $XXX as strong was this DigitalBridge in in AI added monetized of bringing by of million $XX price worth just another carried last proceeds, business. including in experiencing we're The of interest, quarter, is explosive use a edge to total the the a leasing. to we million. value look, led

prospects we're to continue down additional near in and meaningful team. any as retaining We So Raul we're excited the future to sell delighted support a here be term the business. in DataBank we're the about to the anticipate stake and don't excited

most of reason September from our consolidated pleased of billion DatBank XXXX, to is financial off I'm transformation the XX, of $X.X the other debt reduction in a our of XX%. closing the the notably, sheet.As statements, deconsolidation comes of The the balance process books, finalize resulted

debt to While at not for share most was of complexity of attributable it our really that this to DigitalBridge, new business. lot a create were unnecessary did investors evaluating

to more news, SEC if the the it's report big next, sooner.Next milestone next Manage story. not One go. some there'll confident slide, our we in to So drive good simplify I is and remain be time a DigitalBridge earnings please.

of asset to been second our to initiative facet transition and has we alternative our As simplification manager, complete a our pure-play improve amplify reporting. a financial

Q pleased reporting, aligning quarter, fund This introducing I'm announce with XX-K probably quarterly recent This to has our quarters. peer been into set. in most metrics further we're the requested set performance our data and

pleased our insights performance here. of the with couple we're provide shareholders important into of So platforms.A notes to

tower continuation earlier the just life know, formed these multiple not be early perimeter.Second, comingled or as because we or or not cases, MOICs, returns GTP, the for First, Holdings some sold company acquired recent and benefited effects investments their the our funds as InfraBridge I will long-dated funds credit include that year from compounding our in returns original and incorporate DB These these that over which and were incorporated to it includes solely have of strategy.Third, funds, include built does Tower. American invested we've incorporated our are the the our capital the be XXXX funds are in for out you calculations, funds new core in we've commingled our that from the on platforms platform. it cycle, always framework. into of And to this in investments SPVs managed from reporting value-add investment on the X year products

the as overlay expect further GIF asset now the the With performance time value-add assets. integrated, performance and to to framework we our fully our investment those and teams this fund management enhance we asset over of cookbook management strengthen

steady, broader highlight slide, and infrastructure LPs, we're returns, these consistent fund sector.Next delivering performance with please. how back, stepping metrics expectations for the So with their generating risk-adjusted

were verticals time, I in and verticals. driven in traffic.As amendments across quarter. the cable we've cells XG carriers fact seeing moving our driven the to at we overlays They turn XG portfolio consistent X a X not X.X%, is want data principally This all be the organic to including XX% is again up enterprise that centers recurring returning over This IoT monthly calibrate inside the investment-led driving performing performance even well. networks folks years revenue and that organic Monthly highlight standout, Fiber back small and by activity investment of mobile it's in amendment enterprises, really as because are And XG densification in recurring X.X% by up steady really contributions are to towers into flows. geographies those Finally, ultimately then in happening Zayo. fiber our the expect our about up we carriers serve, X leasing excited cash it's by the overlays returns is X driven revenue company recent up It's we're mobile into I nice and the to small a XX%. performance just really growth. XG the to connectivity, is across next growth. and specifically companies. the data rest with fueled seen Towers, long-haul center and we fiber, and performer from that cells underpins highlight of densification.We're what's over up traffic. private by portfolio office in and drives discounted want

that, really the XX,XXX portfolio. to So a ability -- across to cell expand at time and to Jacky continues happen the we up connectivity The planet the segment is take step grow remain differentiation.With it for ability to and it's simple. at steadily financials. for turn customer our to going demand coming in DigitalBridge's Jacky? a about anywhere to continues any over to the in with unique our feet, still what's I'd back deliver the compute really like optimistic cover small for to to years.Look, true along show customers

Jacky Wu

Marc, good and morning, Thank you, everyone.

a third of Page available addition reminder, which our earnings, we website.Starting section quarter within As on Shareholders our this supplemental release morning, in the is of the a XX. to financial report filed

Total robust or to platform. financial fundraising All of realized $X.XX and momentum $XX per including of driven in million our efforts anticipate company the acquisition by recapitalization. year-over-year, was closing InfraBridge distributable fourth increased we interest operating We the the DataBank's carried share, progress final million of earnings key of as $XX to and quarter.Turning continue our Page strong XX. quarterly from significantly metrics

increase billion year, fee-paying management last from the the same equity strategies co-investments. from raised to XX% grew under $XX last and were increased the Assets driven XX% increased in under billion, in to capital growth period $XX our primarily FEEUM by fee-earning quarter, period by which and same new and management acquisition the a year.AUM third and InfraBridge

begin DBP Our DBP fees forward today, III. III.Moving generating healthy by our would XX. to fundraising the latest year effective highlight Page of strong we principally expansion remains year-over-year in we management closing structure. fourth with closing by first corporate Investment and like look III flagship achieved to Partners further fund, the will Management or out coinciding robust, business enhanced with growth from company the DigitalBridge propelled streamlined pipeline a The and commitments our to that to quarter, I also the

period were For last an same revenues consolidated $XXX represents which the million, the third increase XX% year. quarter, from

the realized on as additional to corporate include part expenses. the in Total XX% company's was fee from of management company the As by earnings XX. representing last new provide grow profile management going fee-related $XX we to and closed funds, growth from to and more fee-earning operating new same same our adjusted of $XX Page our unrealized simpler strategies, by following become on increases the and Marc on interest incentive recognized million XX% from to million, was This earnings leverage revenues increase will EBITDA increased fees as DataBank, last pages.Moving million XX. additional we that from in InFraBridge to flagship a the was strategy interest investment year, is under September of cover deployments continues began and period management and investment XX% $XX last fundraising contribution excluding period reminder, respectively.Investment XXth. sheet co-investments in equity from up and XX% which to carried reduced improve the carried previewed attributable had offset designed balance It same an detail carried funds. Fee year. fee-paying Page and to revenues, period the was is segment consolidated asset and allocations DataBank, more The and million, company Last result the by Management benefiting its ownership also $XX primarily detail interest. which assets, year, and generated income, partially primarily I light, including mission materially continue of deconsolidation recapitalization note forward.Turning important and distributable as disclosures earnings to and quarter, a in

XXth, quarter manager.Moving quarter, due carried managed the a DigitalBridge.Going vehicles, segment.Turning which platform would in the deconsolidation equity an the million lower announced our non-controlling funds to sell that continued SDC $XXX interest X the of in of revenues transaction the future, net to X.X%. as Page continued to carried InfraBridge $XXX annualized from and for assets generates rate $XX interest exceeds our earnings partially XX. will treated fair $XXX to value fee company's have which in generated of $XXX September share For our our to third ownership portion Since the complete from interest Page a fee-related segment ownership million method preferred we completion in increased expect of recapitalization income the third investment, interest realization be digital carried grow, in to hurdles our in reducing The million remaining near the interest return interest proceeds, million Fee to to operating platform. high-margin ownership forward, the before and inclusive Vantage investment due increasing of of the of our This XX. DataBank On and as planned earnings Management increased offset Investment revenues in our of we nearly XXXX, was interest our at the $XX million operating within to of revenues decline million. DigitalBridge $XX interest. our to and by to million DataBank, the

to DBP management to fee-related earlier, raise continue capital III, earnings expect the We grow DBP of today commencement we effective III mentioned fee as materially and billings. as for

the are annual $XXX page, run revenues at of the side rate fee million. right Looking

previously our and guidance are We revenue Page fee on to track meet to provided ranges.Turning XX. FRE

leverage SDC our peers debt. preferred and substantial to the space, profile XX. balance Our in And management our to redemptions alternative of has we highlighted reduction to of distributions.Turning those following deconsolidation opportunistic by Page in in investment changed equity future, the especially investment of and further consider as debt the continue significantly through both markets similar will sheet upon the our of deconsolidation DataBank, monitor level common the optimization Vantage profile and capital be the near

Investment securitization $XXX sheet near-term million structure, have we almost approximately it to shareholder of long-term to products million debt taken to digital a platform our our in preferred full capital to we another proud in choice DBP robust in infrastructure forward and I Management with for $XXX have substantial DigitalBridge's creative poised our out in including are target progress from of our liquidity and to the sheet reached a the business this our As strong, completed abilities. improvement balance back highlighted remain completion will you. Thank the space.Our our progress look simplify milestone performance despite and III our our with turn strides in year SDC.And show simplify Marc partner by summary, interest liquidity, first success and corporate difficult solidify the of our fund no generating environment, fundraising remain uses.In balance Marc. level and new in we've with I deconsolidating the scaling available to revolver, continues flagship that, Vantage our as maturities. position and we fundraising the already And committed marked We close closing financial led a debt by by year dynamic of continued strong

Marc Ganzi

Jacky. Thanks,

in organically we private platform Credit our to quarter, where how DigitalBridge digital the X, the and always extended into talk about Section this asset playbook, class. I credit talk about we've So want executing

asset see the with.On to restrictions the taking I growth in walk LPs that most capital to start back At institutional game years to rates growth keep a in credit X that is some private that time, growing tightening the fill meet filling hampered highlights by credit skill of by with study experiencing, being $X.X macro.Next a to just left here.It's context traditional you credit the need for increasingly demand and not right, of been share, in the Since global is case attracted up class slide, liquidity risk-adjusted Let's have for same sector, and strong private force last borrowers the traditional is capital through the how to XXXX, from we're markets. before the growing demand can an gap you regulations of please. over formed been asset returns capital clear has drawn by that that you growing are credit able bringing trillion the capital. lenders to a and the better uncertain alternative by products in reliability higher interest lenders managers on

credit's risk-adjusted see institutional is in you increasing profile driving here, private As interest attractive credit. can

size the has billion expected years AUM alone. trillion On in generate past the continues that The This that row increase a will raised it's XXXX to credit in period. the right capital formation, exceeding time that fund side, $XXX year doubling in plus of is fourth been over and over $X private X average another level.

infrastructure, it's can institutional among on intent the the talking as the intersection to private intent to XX%. X to credit. sustainable.The LPs global X two, fact, and is than left, DigitalBridge best can the you intention see, that classes, increase allocation credit, We're not digital they of on the investors. you at The highest Private asset a only a want asset one, basis here with see be exposure classes part just is everything. greater As this great they are where exposed to is to infrastructure is and want is,

in in this please. give we've real set, This same is slide, market.Next spot us a product in not sweet fast-growing where why puts and them So an already both landed. the

credit and the such the $XX to the organically preferred whole with Those secured $XXX spectrum have private is senior years, the all credit equity.Most of ecosystem. the important So past what have first from in the We Criares, far? fee-paying sector. infrastructure with sector essence, of million infrastructure, sponsors. ecosystem. of to across dedicated companies of growth couple securities financial and cells built And we're capital-intensive inside span note It's supporting towers, Dean solutions finished QX so an the centers digital billion is and private infrastructure small verticals capital capital, the rate fiber, of to data ecosystem. in investment solutions debt other way Over digital other all XXXX range we led we across million a grown digital sizes lending in incredibly by that the our of leverages emerging delivering to to $X key parts providing check as skill the investment floating infrastructure business lien

we're big getting and and started a TAM. So growing just servicing really

size. years per approximately in billion TAM about previous total the As grows that our in of $XXX earnings year wallet on calls, I mentioned terms

equation, year.This can for DigitalBridge. an could a assume billion source $XXX one that become of every reasonable growth be So written evergreen a could of sleeve new loan-to-value credit is about on

this are We prospects the about future of excited really business.

digital stack study for focused targeting workloads estimated the To and large customer within in thousands familiar you a market growth and chip first, compelling rapidly infrastructure represents give DigitalBridge means with. leading tech best left, a cloud value alongside latency cloud compute; technology. it's Credit are to specialized utilization cost-effective and but the specialized next participated on a large reach flexible providers please. pound-for-pound layer value-add case to next-generation DigitBridge a reduce they're They scalable; second, growing CoreWeave, you the many financing purpose a for CoreWeave slides is summer, AI this billion and very artificial Credit a the software put workloads.CoreWeave $XXX is with the business technical service GPUs, servicing the the built AI scale slide, sense provider and fast an to the the XXXX. of on you see economy.Next delivering, a access focused distill by resources. intelligence. a for of incredibly latest serving fit fabric of the boost AI is on it, at then This with That financing of latest-generation cover Let's on company simply couple and the growing how prop, to GPU-as-a-service networking AI incredibly service; and three, four, of built

they're built CEO with Just slide of one cover how the capital turn financing recently, terrific company next Nvidia. and DigitalBridge our to growth world's to leverage supercomputer partnership unveiled terrific CoreWeave This the we incredible with fastest the a ecosystem. to in the AI let's equity a that is was investors, their experiencing.So finance seeking

contracts, looking DigitalBridge including platform. Credit. how in collateral.This, to the investment GPUs, seminal collateral. high-quality Coatue. is capacity to amount This for by and really is their capital contracted our was on you latest-generation thesis XXXX, backed parallel $X.X end at working counterparties purchase alongside see as financing in fund by in billion Blackstone, focused significant DigitalBridge. a CoreWeave long-term securing CoreWeave's and the investment with asset-backed thousands financing new of we as can in the of be ramp AI of significant to our growth asset-backed July demand, and ultimately of well a DigitalBridge the counterparties investment-grade continued We're investments Its always underwrite As at compute supported Credit participated investment-grade durable day, left, of in a the data center Magnetar CoreWeave on CapEx

accelerate in value unique start the debt strategic let's Over the the of transaction, and DigitalBridge our course ecosystem its source the financing, source. ways to with of platform.So highlighting levered the

prop CoreWeave significant intelligence and market value tangible our working with DigitalBridge. Here, to attracted

assets of with Given the actively and DigitalBridge.Next, vet. center expertise, sought CoreWeave breadth industry data our to work

the derisk In companies credit with enhanced In ability we always underwriting the in underwriting and relationships the case, nutshell, transactions leading maintain global DigitalBridge's in to data important access to to this we of to technology terms vetting, is center process long-term really us was talk the logos.Finally, of process. portfolio Basically, a companies. our accelerate. by

checklist center actively we time DataBank, Credit, Vantage, digital were infrastructure CoreWeave Here, already and our the including portfolio the global data up at DigitalBridge's platform.With turn we're CoreWeave's power DigitalBridge of from advantage, footprint, line for slide, before we the team and companies supporting leveraging is Great. can that, the to CEO benefit it up market what next-gen transaction we a it wrap Switch, of I'll to quarter open Q&A.Next Scala, the both now the and call Aims of please. and AtlasEdge.The for example financing great

the a wrap with let's checklist. CEO's up from review always, As it

hit FEEUM you fundraising kicks billion our we I'm Partners fundraising, quarter we're $X.X year-to-date, be for DigitalBridge this #X The I will the our remain, to Series KPI, promise last to the confident can done. job Also, the in on and going that, quarter. on and get targets First, again, target busy year.

statements our We've It's we done. excited and it the delevering and about you. Vantage the been our up, further to get shareholders we're asset other balance also and portfolio something now with really peers. our future trenches fundraising funds through delivering the introduced sheet. you, is is our the flow efforts, generating management This with So simplification, up level. a we'll profile is on most for it aligning our asking great we'll start see importantly, We're for, our return in DataBank, in an financial metrics, important.Next we're on investors, our performance and presenting important fund next, that alternative down while and SDC series.Finally, have to which our step. at pleased performance, of complexity reducing closed our in flagship from

credit final tailwinds our growing I to benefits fast-growing updating the stage support powerful compute to towards power logos our it of our execute continued the world, that, the for you. for infrastructure. needs Q&A look next your digital and forward Thank from investment-grade in support management, you operator the continued DigitalBridge the powerful continue begin including alternative the that on we growing We have to connectivity I'll to of platform.Thank in progress.With through the most as over section. transition levered the you quarter to to asset the a hand on franchise

Operator

And Instructions] comes Elias question first from with Company. [Operator Michael our & Cowen

Michael Elias

data the data boom observations in Great. for that for center seen, to I of And curious then a spreads capital going capital appears booming if around And center have a markets demand are been it that data the you that, any to demand follow-up. debt leasing To centers for share we've start depth related with there's also the debt. just Marc, build observations -- for relative centers. the debt. for data data I'm of debt could to any where as part new

Marc Ganzi

Mike. Thanks, Appreciate it. Yes.

next marketplace to data be somewhere that over the center think it, we capacity So needs of around gigawatts XX X call the leasing years is new delivered. next,

you of greenfield. will most be Michael, that know, As

it's depends hundreds So gigawatt. into obviously, new activity of the contextualize a billions literally construction megawatt. per compute of on price when center dollars to per And that, metric we industry. that you data the of is what price on can It then your

digestion stuff year you So a we're XX% a from be financed years. financings of of are in will just interest, traditional We by will billion data the financing.So of the and terms structure capital you real And amount that finances credit going in estate that real this you distress.So new financing bank loan-to-value, do is for of if terms a X belong we side seeing range regulations lenders assume forms in most center that shaping assume center a $XXX you think literally greenfield private of spend office to in hand credit that as $X.X of don't that estate credit. center companies billion probably tied new up think financing that and us. that and in are particularly in that mind, CapEx construction perspective, we somewhere with loans as are other $X a And team us can of space data what to there's for Banks, the keep and here our builds. through construction, obviously, reasonable coming there's go the contextualize our know. just commercial given are somewhat in data up surge in market portfolio of significant trillion next

there's a folks have huge the have of we the with well, in. that So terms but certainly don't we're potential we know equity in, that debt working universe that of in developers

you in total for on the less loans But what we're $XXX Michael, can we're range.With to the structure you yields capital contextually see range. notes, seeing side coupons loans X.X% where base billion new quality loan obviously loan. XX% playing low in and credit on depends, a a begin to in in the the X.X% structure, finance to construction assets in as and which riskier, center X% the and to Xs TAM assets perhaps those the senior, with help in a could pricing operator, really rates somewhere enhancements the actually fees, high-quality pretty construction side, whether certainly XX% to note it's to of north is, whether XX% is it's the the mediocre data on loans near being entry a So obviously, with the take are exit Holdco Holdco fees, those value, it expensive.On above spreads you which see

and in we're and cloud center summer. the over seeing by and opportunities private that talked of it cloud is have obviously, AI driven about So workloads the those I data public you And all space. kinds

We're marketplace. we're got also big that a in centers, it's is We've opportunity pipeline the over can't enough towers data how So Michael. of as big fiber and private very We XX active. well, credit in stress now. on a but loans right working

Michael Elias

a I appreciate there. color the as just And then follow-up.

the gigawatt question. Two-part about talking of XX opportunity here. You're incremental

perhaps that, as opportunity? large-scale portfolio positioning then think these its to is, win center talk can the the about you level, of share platforms across just is talk targets at DigitalBridge if how as about First the unlevered more of workloads. that you could fair return AI itself you data company And than part about

Marc Ganzi

Thanks. Yes.

we're and it quite taking leasing lands, Vantage, year across share. our DataBank measured the hundreds of sure but had tremendous So mean market think it's where we I Aims do of in within not AtlasEdge. a and all we've Scala and and Switch,

terms allows really tell to essentially with on us terms up own are the up. the Sao What Rents to premium.So Michael. you data indeed the locations year-over-year look, you sector, offer have centers then XX% somewhere come we a sector and got data X development I rents existing land, that where attack And distill I but We've to I Vantage cloud under compute to in function customers. localized This from North just in our And I Aims growth we've we you that Switch, to average and edge are up. we and have few CAGR at are it XX% can is of share XX% think a the we that securing global on world up execute play is and deliver the demand, with we to cash-on-cash the multiple that some and obviously here's playing basis little can but rents different customers, of entitlements, companies punch we in somewhat are also you, of portfolio operate yields. ways. perspective, North between in locally our with you the know, the significantly, Europe year-over-year Europe their up public yields to share out have America, think you Today, we're and you at the gigawatts DataBank We look supply think, are and what center helpful. it we a line play we But love give understand results a rates of competitive rental for have play private year-over-year, from teams and perspective where where globally I power rings really we've Asia to and their at and over seen of availability power, biggest Asia don't And to when from in having a supply and America those platforms demand act ability of and at I significantly. as are is, yields this. multiple Vantage the Scala. is the are yields. XXX renting go more there's customers.So platform different which got X.X cloud we big can to have our a of it Vantage, attack and and up, business workloads. that think have different the to AtlastEdge.So a verticals the to search power zones, go AZ's It's Paulo So advantage.

So XXX think going up centers end one cloud we cloud, year, cloud and I the on between of to leasing not private largest, edge, bigger in far operators at Equinix. looking and the and global league just think if leasing, absorption, we DLR world. XX the do bigger gigawatts are than we data certainly lead of And that's if X.X basis, the largest public somewhere megawatts than far in this and a

we more taking the share of think market. definitely our than we're fair So

Operator

with from comes Jade question next Our Rahmani KBW.

Jade Rahmani

fundraising some would efforts? provide as point your your macro long read XXXX cycle is that today, From to past the tailwinds to more a to these on potentially question fundraising and through will that the and whether Is many given accelerate of uncertainties even of on sectors, accelerate? pace that The so you that if I have are times give would and could fundraising we the complexity. understand second be, today anything Vantage get weighing or things there lumpiness

Marc Ganzi

Well, quarter, third raised first -- the Jay. capital quarter. we close Appreciate I Thanks, first it. with fund. mean let's new delighted right? $X billion $X.X for Really start the look, of billion our with in the formed we

managers, strong having very We're outkicked well you a we've alternative our coverage. as performed in that always Historically, quarter. asset fourth the definitely we've other believe we think I peer-set against fourth quarter fundraising. in

and think motivated on investors QX we're here, I the And our that's we around optimism the QX. have happened We to a happy closing dynamics hands next their is have got LPs of into and lot in that Jade, one of sat first have year. even pretty do for and optimism series. why yesterday.And have that's quarter, flagship we the further new fourth

they're of Asset allocators LPs. for just tour, XX I of sense I finished already where given where have us saw allocating year. our next a capital X-week a

was in the and be and in be best with the They me there's think I exactly X Asia to of takeaways in but and they in weeks. want of want their they twice. infrastructure. want definitely told be to and accounts.And with the world to was the X digital best manager to want and think that they thought the credit. true, renewables. the shrinking it our less then on They're to the most be don't list. key generally over One, Jade from last went and GPs equity private trip GP I best. Gulf GP to best allocated GPs Someone best America be all that I North the pulsing investors with look, They want importantly, And

this And largest place are print will a reaffirmed and we So and constructive. year in guidance be we for very infrastructure. asset as that's a the and we we have QX, there very I print our a we'll year.I sit why alternative good digital QX, in strong manager pretty protected while next XXXX think think had in

We've to our working told low have not fund. from Fund and over There into we've We hasn't investors with folks. closed XX market of investors attract different far a committing XXX% given the of in side -- us the Fund our so first little III high been than And close. from II still anywhere today, calculus We fund to investors investor be that's had over those believe will haven't II investors our XX they're Fund investors side a flagship we've come III. to other the XXX yet.So this us had Fund of XXX re-up had many may intelligence.

like our I points. data who coming I'm of -- have really week I We look, fees We and QX next the most year. fees will of of in and quarter those $XX but year. about up And the for out our more study building caught the next started those that's hitting very we're lot think And every I'm key. with is quarter. somebody I we're pleased literally of next optimistic, guidance And year study data a will just demonstrate key as the yesterday.And QX precision. I all am And of Jade, the data know you But Salesforce. here catch-up that be this fourth performance the fees. there'll we in in as get inside activated and and million

always to unfortunately, closing when what as look get impact The you're and these revenues, be III. think in quarter fundraising. about come they're to start Fund important at absolutely And think to about so we occurred, there'll DigitalBridge. how earnings a profound expenses investors now fourth our as to this numbers in finally that of That on the is building front

little happening today. what's a that's So bit about

Jade Rahmani

be relates that, macro, just believe extended. cycle as one do times that a the is would are it reasons follow-up to the And of you little fundraising why

Marc Ganzi

doubt. Yes, no

what forced I certain And more investors macro to certainly, thoughtful systems little to patients. has think incredibly are think a being with I move capital. how And call liabilities. cover investors about to pension want would their the I deploy

to cover easier not that pensioners commit So to as it's money to for and pension. funds out can take their sure liabilities of they them make the

So inflows. outflows these called are and

than for of money you where more that of coming their paycheck US fatality. in pensioners fundraising even a from certain put brand-new region. which and that here seen very take pensions region.And get coming good said, Europe right on on. gets That's good like and a team out optimism. that, taking U.S., pension That of out results We've are nervous, carefully to they great a or pension you We slow. Canada of terrific get in like seeing may definitely Europe taken elect We're places The risk the like very someone's is And U.S. get GCC results a back into being put so market nervous, out the is gets the places in inflows, year. state so little percentage been outflows get a Canada shade.And like where pockets that this, done last in we system watching Asia. and taxes now, investors has is in well a really market We've there's incredibly had us. of been on place

what a the that I as one and have Jade, that's cautious, the bit pause. consultants next fundraising our what and just is That's said, is. given are systems stabilize So that makes little pension is down what us thing telling well. some are as seeing year are see, people should outflow we slow belief we certainly macro very and But inflow being dynamic,

Operator

Our next question Prentiss comes from Raymond Ric with James.

Richard Prentiss

couple of questions. A

everything. not you're you on trying I time process trying as many said about if First, think us you you this we involved working discussions? one in What's think much people the the are earnings, life get of deconsolidation. you Obviously, in are understand are by kind either done. next could sooner, report How that the is Vantage you How down to what timing achieve? to? to Help sell

to to this next story? help process final us the simplification understand deconsolidation just get So

Marc Ganzi

Yes. Thanks, Ric.

have assured, it's look, assets U.S. And are do really we that to set couple And investment REIT. give center now key to our But new introduce but it's to have they is safety position. the Vantage do they're like type is that of pension own rest just of talking having literally want X% SDC, light that North our continue, the investors yield process the generally These obviously, to. X.X% to think interest. to capital we the the not to million down of that our are investors. negotiations perfectly into sell with today's grade, best is, of a third-party rate data XX% U.S. value down with lack close for want And lease the XX, even biggest years, we're for core we're Vantage as of of who conditions. data long-term offers in good good to assets.So of investors. a cannot conversations you We interest, It's data greater better can't in are this that centers of America REIT find some world. systems interest set $XX They been exact best. in into duration assets the own. to quality been reasons. We color I Ric, of of also it's the these also incredible So capital has it it. of of we centers the other the long-term We've just a new and We the made unique I imagine, credit confidentiality you best not has -- the you clear and ongoing a XX world.I and than the investors as some investors. sell want can think push

SDC ultimately multiple have Vantage as vehicle. of capital. Who a looking be us grow that some the join we're in sleeve want most who about can is going assets, with provide can We primary us clear capital to the at growth looking fundraising to parties I of Ric. position. that. at We're

will is counter rate to headwind. there's customers, to capital. some quarter clients we a U.S. continue pays do cloud what decision we and SDC the this Obviously, various we've has great narrative Vantage make in great this yield campuses best been got got and of with interest growing. portfolio.So of from to on of interest leases, nice As the develop on public of a the we've to keep a it. It's bit lot We attracting dividend, want ours, a But it a pension that great a and fund

this So metrics had our much SDC give budget. sales way, can quarter. and by granular you. as same-store that's X Vantage about And, and EBITDA as results I the beat NOI growth, all detail great Revenue,

next to and vehicle. going as we year assets happy sleep grow that, So what's that we're SDC acquire on of Vantage that we go at will assets really in more anticipate Ric, do with look

Richard Prentiss

Okay.

Help the preferred stock, been some expired public Stocks program. your think I out question, to other Second far monetizing alluded has common of think stock, understand preferred, about under look the us look at common you some Jacky, as stock there. a stock pressure. looking as buyback at program are how under items taking you as How been et you maybe authorization stock, at some cetera? interests? do the you the these

Marc Ganzi

buy we're Well, our back always look, looking to preferred.

we've made secret. think I that no

formula how have use We cash. for our we a

and next million purchases.On be an fourth putting of third until got cash our reasonably the cash this third we we But equivalents of see do We're fund won't that When called out we've as well into do new As money capitalized. in we close fund then those investments capital sense. some buybacks, buying you We're blackout back quarter. until so know, coming year. quarter We're third stock to some buy we've do $XXX or hopeful opportunity. of certainly, our stock, see we soon in an stock it Ric, that in a to of been to team we, blackout that make leadership a to the opportunity, we too. our period can as go the period. back back want when makes And

once ends, a love we that back conversation. blackout we good and having stock. that value we're to can unrestricted, period it's We So go think our

buybacks, like then and think.In We're strategy. products. new debt commitments I We really right? addition cash, certainly, build credit to it, always credit there's really sources that, really where looking GP cited going. our is that's we've Share pay Ric, So X fund that that into of to down

From today, commentary We like want doing growing and management, credit clear. grow we're in under that to think We're assets that. team. I earlier our in we credit. credit my really was flight

that's integrate TAM infrastructure ilk with us, them is like we what Ric, subscale, margin and that other I market huge can and acquire you with us when adjacencies do the think we thing whether say, or in you it's are time you enhancement, adjacencies like infrastructure, our verticals evaluating last do other GPs we growth, of see other energy, sheet equity or a time we AMP, of folks incredible obviously, with whether to see that AMP work revenue not opportunity adjacent would did and our constantly we can digital or we're a over to ago, growth. are see FEEUM year balance like that from our and it's put private do, for we FRE So to growth to in terms positioning.The whether renewable

measuring we're literally we're And box, It's management to day evaluating it, right? X carefully of So quadrants a box. as all that that Ric, a every team. that There's right?

Richard Prentiss

been I there a Jacky And know, of year. he's in. originally, then putting on I think have that been Is leaving at might the end the coming? what's of CFO? replacement process hard Any update, Or the calendar the work update all

Marc Ganzi

He's is had success I quarter a extended mean having good words Yes. through I him Jacky good in We've We're great worked to that second tell you ongoing. here. time. let really mouth. to we'd -- next He's us the happy really I happy tell if to get his say. I'd he's hard process and him through company He's place, he's -- not. think, first like some put where of with year, I'll is. is won't or you it this conversations. in That and

hard the fully to right that now. chair is of So the a he not a stick work.So in rush to the little in CFO. I've longer. He's a a success I wants lot And right I'm board. achieve Jacky's him to personal does the would a lot the of hire the wrong for support that we're got effort function and of around like having one see as goals CFO I got

through and getting well going next to delivering June I Jacky hopefully. pretty the We're right partnership with we're think in We he's Severin. end the we're work the for candidate results needed feel to announce the need happy do happy very be I'm them But with this extended we together. inside so my and quarter, shareholders, we confident meantime, year. And as if to of is here

Operator

JPMorgan. next with comes Choe Our question from Richard

Richard Choe

the year? flow-through Great. How billion FEEUM to much capital through the strong year, on but or to this bit $X of a formation follow been $X.X been to we hit in has billion volatile. FEEUM I that's target expect the the should wanted little up just

Marc Ganzi

activating I said, as of FEEUM officially Well, we're million of yesterday. $XX fees

to So quarter. the through fourth flow that's going into

Jacky Wu

did flow through All is Closing. because the of on now will DBP turn before, fee that X.X we III not

Marc Ganzi

Yes.

expenses no Richard, billion And on. $X.X is that, with we're there's the that of so fees other turning key to that associated

good team first third and the T&E, X capital, a now the And got this a strategy. that pure as have a quarter has and the is a now for strategy as XXX% as year.So escape we quarter, money, having and anticipate So told show you second and of you've lot is into move And we're period of spend raising no we of billion starts that that. profit. said, velocity. you $X for And we've fundraising strong having business, is a got challenge in revenue a very to lot profit. lot an you strong I fund people, a spend Richard, now as our And our forward, go to next fourth sales, pure months you know, you sales we're you got through got

conviction we target We billion and belief $X to fund. through hit in this some have that going we're billion, we'll have clear that that push conviction, the and $X actually for every exceed

what $XX the that's to suggests, on fees. the So we're but turn of million data excited

on the be strong. with you'll said, associated that and on Big anticipate flow-through I revenue lower we should revenue results quarter, that fourth quarter pure profit on the XXX% expenses. see incredibly and financial to in a As the fourth

Jacky Wu

some expenses candidly, to flip is between allocated volatility being And with of associated just geography now IM. that corporate a

is obviously, almost for that dollar neutralized that earnings gets our see because geography. you'll off way dollar additional between flip So obviously But segments. X those

Richard Choe

far. then projections still but can you your there's how are that helpful. reporting of us performance just so you time for granted second has And lot good thank Great. in how tracking overall, a But performance of is a they're slide out? fund been standing give current The one, very the sense the

Marc Ganzi

sure of I that the question, sorry. not first Richard, I'm part -- repeat

Richard Choe

Sorry.

DBP for and MOIC and gross is Just DBP the how tracking II? I I II, DBP

Marc Ganzi

Yes.

is you can through Richard. But is I is Fund our on tell Fund have quarter So been what quarter-over-quarter of the reporting level fund the going I J-curve you is would think, what Vantage tell I to II. from up this Fund as gross MOIC you're phase. first and indicating II, performance,

And Fund vis-a-vis think up, II, where MOIC actually and since will better catch so I those X. today we is Fund Fund than performing

watching know been not but firms, QX stand QX and and challenges, we other there's optimistic. know to firms other and other from X financial So I we're to QX GPs around other markdowns. had that X we to some sponsors, pretty and X have

QX.We GIF Fund to that expectations, not DigitalBridge we it unwinding are made all, we've suffered DPI. QX up both QX to at I process from to our our exiting at very up table. the And are quarter-over-quarter We and across That's that and the moved flows of can have deliver see think and actually, X anticipate the So, II fund, and of cash clear GIF at year-over-year. performing perform continuing marks through then we're as you very in tremendous now I from capital II, returning DPI of right out GIF as super portfolios some our Fund LPs, performance important I also and the we've all and respect and good fund also is first We've had our to those I, continuation some of continue of through discounted with across had the assets. Richard. in solid vehicles.So InfraBridge to

there. XX billion LPs. months to $X.X now, very you've want for job good our we've cumulatively in in last raise DPI. DPI a produced to And and money the out year you produce got over go right We've about this done If

and cycle. raising That's the capital returning So capital.

Operator

Fargo. with Eric from question Wells next Our comes Luebchow

Eric Luebchow

question. the Appreciate Great.

seeing going are across operate still traction just on touch verticals shift infrastructure to wanted deploy you different does forward? interest elevated M&A that moving for you private ways Just desire look ranges? to of of And kind M&A they down on in. the rates as at accelerate infrastructure? in digital kind Are to remaining recently pretty higher the any Or multiples your landscape capital greenfield at development all versus you

Marc Ganzi

you where have what and focused the for are. legacy that are really multiples good that exposed just And assets particularly actually, residential and not enterprise the have old data should data don't story, today the fiber of multiples know move the seen really got actually and interesting a speech about where even impaired. I'm market Yes. cloud enterprise of centers there's a further lot certain significantly, compression you where years exactly as like exactly transport even that later those so household, has is the into opportunity the fiber ask to seen there's little in that's gone so of giving quite growth you you've down fiber-to-the-home. where month-to-month, are a suffered public the have think -- Those as I'm Eric, growth there's fiber wholesale We but to multiples, good kinds investor Eric, question Fixer fiber campuses They're fiber, are private argument, we've down then aspects bit, in the Data coin, a from this. It's XX-plus teens. a because mid-XXs so that is the a bid make flip there's hit which lot could flows the going side, not heavily centers. assets. a centers and super wallet talk we've cash of of hyperscale And It's low up come XX growing.On fiber, the days. older

and So there's that and it's and whether which of valuation been they're DataBank, well, edge degradation enterprise, then you've is the in performing no got doing really equity.

private Where different in are you centers. They're data services, industries performing suffering. cloud, areas does an which is Where the holding enterprise, well. is Switch say hybrid center valuations X tricky. data data can holding? they're always cloud, would are different that.There's edge. they are sector. X So managed going down, in investors And those I hyperscale quite and tell I in holding that that are There's then sub ways are centers the what

So X good good verticals. X verticals, probably less

And there. valuation wide so a range there's of

in and just because have instances, EBITDA, could enterprise You down EBITDA you there's can managed the to like debt.Towers the as services actually of Xx held all to and X in some bid see way XXx because high see pretty no well. as

side, U.S., XXx. transactions In in There degradation trade been the seen just to in private Vertical the been private Bridge actually X And valuations. smaller we've chasing, material material the in still in recently Europe. the in public turns at there while Maybe mid-XXs, deals to they're lost to XX X transactions to hung they've XX are any hasn't and down On Europe multiples XX%, XX% tower a private XXx. that multiples M&A. the is hasn't losing

at the deals XXx year that were those ago. to were a losing Now XX

to seen in probably call one again, The America, push multiples been Latin infrastructure those in perspective. M&A.But towers basically what some Jacky, in there's been as And terms with market then private hang of XXx. from small So U.S. and are. think seen could Southeast at the teens. big is And material trade there Asia the a digital compression I a in But X M&A in fair. market painting sort a trade one turn pain we've you tower in really XX isn't parts it see bucket And space I still where to we've high ball same small fresh really of multiple to attractive X Asia, multiples hasn't would that's towers. cell the into

think the canvas paint sort Eric. you've it out the canvas because ways lot and to lay to I paint different to got of brushes have XX now, going of right you're bring a to

Eric Luebchow

makes follow speculation coming that Yes. market. And on wave your fiber, about a big been up, to Yes, just sense. in some There's obviously fiber-to-the-home. consolidation that comments residential

you going over potentially could you've on those But here, shied where lot area forward? see an capital traditionally, is we I that touched in little have from, of know that in area given of a appropriate builders, that evaluations see of for we an if further You gone cost kind away discount bit. this play is I but a guess, an

Marc Ganzi

focused right to look, those companies. think, very some credit and from we're we're credit now, I perspective, providing of a

fiber. we're we're teams not form the certainly there very investment residential And management fiber And capital like, them the the at residential we and on giving So of up level, investment them really in are constructive we're we're right and certain of now. committees, credit. supportive equity committee backing

pretty We've our and valuations fiber had management do great competitive if vocal write been, find team equity think the an check at XX% Europe mean Tier set management competitors, about happy been geography, lot right XX% same. and team doing we're of the haven't space. is moving the XX% out we've great -- in team. building a his the we've its I in and great X I right the We've a we is in Tier success. right the we're to now penetration XX% dynamics, management his We Netomnia. about residential of line, the behind got that U.K. that. higher the reasons.Now to with We're are got a rolling with in He's X, cheaper that to ARPU markets than

that of they and comparative They So team less a management we had where very there's Tier and competition. specific situation where London. a skills markets saw that's the in weren't chasing X and focused homes X Tier just set on the advantage were

up.Same investment Chile. in So stood thing the thesis

fiber that seen going street we're streets the wholesale business home, business, residential carrier. sells homes, same we've where also to fiber directly also a have a underpenetrated but lot -- a where business the we of have We and only we're down

residential And and very so through Eric. play very doing surgically. and through it we fiber, it just Mundo will We're Netomnia, and carefully in doing

with Beanfield we're XX-year partner. probably Toronto, we're They've and the are lease enterprise taking our for Bell formidable Microsoft XX-year and Canadian It's that incredible been little X/X on providing there's not done it residential Telekom. sold U.S., an fiber Montreal, ton a residential great capital. facing to primary Toronto business, watch very OMERS more lease really play. it's fiber a or a in we'll signing It's and on going think It's a pain is of market to multiple. I Montreal, share. left in a Rogers we're focused Eric. Deutsche plays. But I tougher going or And hard. and it's and mostly and and Europe and a They're carefully mean and like XX well.We of into we're

got correctly. the a to priced that's equity You trenches, be but got And you getting fight has be got to to wake up correctly. fight. priced every it's The for, day to

Operator

from next question with Our RBC. Atkin comes John

Jonathan Atkin

made cells and to comments small the and I focusing wanted about outdoor you on about you scripts small ask the maybe cells.

capital than lease-up driving past. you plants? sound having on are to in little are What's that in bit your maybe of demand? existing any you meet for the positive words, of terms kind ExteNet other and platforms? is a of that build other In You demand intensive sort have the how to same-store more U.S. Or seeing and you of

Marc Ganzi

these you shoots, we between X.X you at turn Jonathan, bookings optimism in a there small cells reforecast see is all we've know, big the Line look, million I have as high there's seeing bookings in We've businesses the Asia, green now also stay note, seeing and million whose and And turn do And pipelines really growth small close the Latin And numbers watching cell divisions, in seen depends little we're on the tower as a ExteNet in FreshWave. ATP, as can I ExteNet. Boingo. to is Boingo on a only you is Jonathan, bookings. cell U.S. under believe. Look, X.X to our what XXXX about believe or count right?What note we're a small what's think tell is seen business Well, we in million notes. and our and not because we're EdgePoint X.X reason at not a like you and

signed been cost about they ExteNet, be X going So put where they small listen and all significantly. talking just carriers while if have for capital of provide of I work up putting to of fund the into be gone major money are of some also has notes DISH with we're we will small the to will M&A money But to at curtailed, picked yes, cells. and, they're market has and a and new put in has carriers -- are cells.Now capital the conversations in now good CapEx and don't DISH this and can even carriers our built, provide come customers the CapEx. U.S. another in we up, know to solution, there's that it with the example, XXX,XXX look, XXX,XXX But all self-perform. to some think work some willing our a X now

We've more opportunity. pipelines seen seeing we're our grow. So

Crown. of I from that think you saw a little color bit

I competitor think paper out research there was a today.

were thing. with one pipeline. had an increase and Crown think show same about competitors your talking I a They've they road seen in non-deal of the

X market that's doing macro what when spent a see XG. happened is XXXX, --- X exactly all into tougher we're densification, I one. see small LTE, probably LTE So first densification on moved on from to growing. This it. with and XG, one to basically and was We years then core it was into happen. starting the XXXX And in moved for starting overlays cells, It's to away it months towers.We're ramping little hard a but another X

small out We've carriers, to them we're for it. more platforms small have in not it's there raising and about talking capital optimistic So very been other growth, investors and it, just at looking I'm these forward putting you think cells but capital and cell and dimensions. work, understand to the around to more

constructive AI ultimately to X learning going XG that space there. that how only then, way of you machine-to-machine take think going cells dispersed and how is very always through to the are by in course, through private generative networks, towards small have and getting to public autonomous starts early about to you're get is is AI true you be generative towards as edge edge. change millisecond.The of in We're the That's and and there way latency has We've threats to the about that no-latency than cells. low through the on safety X only front less networks through AI vehicles, the X/XX have years. to a small cell You environment is mobile in environments essentially talked of next IoT moves penetrate responders having small a going

Jonathan Atkin

anything and could things terms your on maybe just but looking at? of then in updating And you're Great. pivoting elaborate briefly, strategy you venture us on

Marc Ganzi

little And on if look, doing. I constructive little constructive less third targeting the the U.S. I investments, we America. We're that We're size and is But We is really Well, I tell We're Probably closing, constructive a Latin have and the of in tell good thing, II. road. XX in tougher and now what much the this that curtain to couple would here pull tough We're seeing I diversified of we're smaller of strategy you built XX start can check a certainly a market Canada on, interesting did Asia. Latin we fund, in on road and home in positive Europe is the mean, I back fund, thinking a announced very things same diversified on you Asia. of going what we're a of XX is Europe. things what same. tell guys America.So America a positive out. the -- a Fund there's we've strategy, on we're would seeing to things Those would it's be just our What Fund we're to first a lot investments. in about our is much lot is North investments. XX you. closing

-- AI. opportunity, private networking. AI. The probably do So like like strategically about thinking our third capital, sectors, in X and as question tower we'll there's got small is look then at X. world, room invest. then like to would grow where always how Asia. I to to or And thinking we we that's to it's great We've further do right Switch. think list the private cells some do like success fourth new deploy that have at now. And Europe We the XG terms and cloud. We companies, in right it's we wholesale some we're a last Europe spent and centers that if there's of towers. translate stand then U.S. can course, got if systematic fiber about we faces but to face Asia online The data or that EM We primary again of if like in we much like time that we've strategy.And so is, We success the is thing be say

secure, hard owning So infrastructure cloud way the that now.Private it right there's and is we're doing doing really one cloud that's and a private working huge does Switch on for no that, one market networking highly is No it. it.

on we that that owned now things we've a like that from other can proprietary. take company close, strategy to the that almost we've we feel strategy the we've So we're that some year, the forward. capital have deploy DNA fund got for we now But There's third are -- working strategy. -- that next

big So quarter.As we've a ideas in pipeline. tracking billion new you'll new start We're in over I our some announced deals said, this to got here of see $XX pipeline.

in of never Our been formation. platform bigger new has terms pipeline

to the on fees for and close It us course, today. excited. and important was done. big turn first to we're So billing loves the those get was important call of Everyone execute. then, for those activate go It is fees. This a us

you'll back see so And our investors. to we execution going new new now around forward how thinking deals, and what is and continued from capital us DPI return

be hopefully quarter us So hosting in you Florida. Jonathan, busy for it a will fourth and we forward soon to look down

Operator

I this floor would Marc time, At questions. back further comments. no are go turn the There Ganzi like over to closing for to Please ahead.

Marc Ganzi

the operator. you, today. first, to everyone on for up call want thank Thank showing Well, Yes. I

I we very optimistic. market our And think gravity seem you're been for first done quite returning expect we to hearing the tough of move and sit strong was done the fourth there, capital defying the fundraising more terms This to close be good fundraising. managing and guide quarter, the my year. great our exciting of tenure, this in tone As state We've my portfolio We've we of a assets same. our as out here job and can we're It's you again LPs. to very companies DigitalBridge and job but to a today.As into is new strategy. our a reaffirming of we're get

we're into new before, strategy. that the about I our fact pretty now on As fees we said convert excited

privilege deployment, capital a moments where $XX here of environment ago, fundraising We of remain in are maintaining capital raising we in course, performance accounts to up, deploying maintaining where incredibly of You'll the as it's think the really where and see capital it formation, our about some that said the capital billion into around marks capital what optimistic we a of I more in and will year. on a next strong best competitive capital, the to we sum that financial we're of terms our portfolio, advantage in in terms great few new in your of and hitting a of fundraising the soon. strategies are a quarter, talking fourth on look your sitting weekend, key then It's And just and appreciate and order.So have terms a will We we is. that and deploying to pipeline Thank Have great infrastructure. and in digital opportunity start care. most persist of capital. Take our and your week. invest our support, to represent forward rest you exactly short to in you. world

Operator

This today's call. concludes conference

You your and may disconnect have day. you your participation, lines time. at Thank for a great this

DigitalBridge (DBRG) 1 Nov 232023 Q3 Earnings call transcript