Digital Bridge’s Advisory Business
Digital Bridge Advisors, LLC (“Digital Bridge Advisors”) is a Delaware limited liability company formed
on September 15, 2017. Digital Bridge Advisors is a wholly owned subsidiary of Digital Bridge Holdings,
LLC (“Digital Bridge Holdings”, and together with Digital Bridge Advisors, “Digital Bridge”), which was
founded by Marc C. Ganzi and Benjamin J. Jenkins. Digital Bridge Holdings is majority owned indirectly
by DigitalBridge Group, Inc. (including its subsidiaries, “DBRG”). DigitalBridge Group, Inc. is a global
investment management firm publicly traded on the New York Stock Exchange. Prior to the name change
on June 22, 2021, DBRG was known as Colony Capital, Inc. Mr. Ganzi and Mr. Jenkins lead the Digital
Bridge investment team managing Client accounts (as defined below). On July 25, 2019, DBRG acquired
Digital Bridge, and Mr. Ganzi and Mr. Jenkins joined DBRG’s leadership team and entered into multi-
year employment agreements with DBRG. As of July 1, 2020, Mr. Ganzi became the CEO and President
of DBRG. Currently, Mr. Ganzi is the Chief Executive Officer of DBRG and Mr. Jenkins is the President
and Chief Investment Officer of DBRG.
Digital Bridge and DBRG previously collaborated on a joint venture basis to form DigitalBridge
Investment Management, LLC (“DigitalBridge Management”), a Delaware limited liability company and
investment adviser registered with the SEC that, acting through its relying advisers, as described in
DigitalBridge Management’s Form ADV, is an investment adviser to certain private investment funds
(together, the “DigitalBridge Management Funds”). The investment committees of the DigitalBridge
Management Funds, and the investment team of DigitalBridge Management includes officers, directors
and employees of Digital Bridge.
Types of Advisory Services Offered
Digital Bridge facilitates investment in, and, prior to the transfer of certain equity and profits interests in
Client accounts to individual entities controlled by each of Mr. Ganzi, Mr. Jenkins, and Alexander L.
Gellman respectively (the “Principal Equity Vehicles”) in connection with the acquisition of Digital
Bridge by DBRG, was itself an investor in and operator of companies focusing on mobile and internet
infrastructure, including data centers, macro cell towers, fiber networks and small cell networks
(collectively, “Digital Infrastructure”). Digital Bridge facilitates investments into operating portfolio
companies (each a “Portfolio Company” and collectively the “Portfolio Companies”) on behalf of
institutional or high-net worth investors (each, an “Investor”) through one or more special purpose
vehicles (each, an “SPV” or “Client”). Each Investor remains responsible for conducting its own due
diligence on a particular Portfolio Company, for determining whether to make an investment and, subject
to certain transfer restrictions and other provisions set forth
in the operating agreements of the applicable
SPV, for determining whether to continue to hold all or part of an investment (which in certain cases may
be subject to available capital of third-party purchases or certain regulatory matters). Messrs. Ganzi and
Jenkins, and not Digital Bridge, have the authority to serve as, or designate, directors or board members
of the Portfolio Companies or SPVs, and are the same individuals responsible for actively managing Client
accounts at Digital Bridge. When DBRG invests in a Portfolio Company, such rights to designate directors
or board members of Portfolio Companies or SPVs would typically be assigned to DBRG. The Principal
Equity Vehicles and certain employees of Digital Bridge also invest in certain of the SPVs.
In certain instances, Digital Bridge will vary some of the terms relating to investment in a particular
Portfolio Company or SPV for certain Investors, or grant to any such Investor specific rights, benefits or
privileges that are not made available to other Investors. Digital Bridge will also, in certain instances,
provide a greater level of disclosure regarding the investments and activities of a Client to certain Investors
than other Investors. These variations and agreements are generally contained in side letter agreements
negotiated and agreed with individual Investors.
Clients, Digital Bridge employees and the Principal Equity Vehicles may invest alongside the
DigitalBridge Management Funds (or affiliated investment vehicles thereof) or DBRG (or affiliated
investment vehicles thereof) in assets or businesses related to Digital Infrastructure (any such transaction,
a “Co-Investment Transaction”). In certain instances, Co-Investment Transactions may relate to the
legacy Digital Bridge Portfolio Companies described above.
Digital Bridge does not participate, sponsor or act as a portfolio manager for any wrap fee programs.
Other Services to the Portfolio Companies or SPVs
Certain Portfolio Companies or SPVs may retain DigitalBridge Management or its affiliates to provide and/or
reimburse DigitalBridge Management or an affiliate for provision of additional services, in which case such
services will be provided on terms comparable to those generally available in arms-length transactions. For
example, one of our affiliates, DigitalBridge Luxembourg S.à.r.l., a Luxembourg holding company, provides
strategic, financial & managerial assistance services for a certain SPV. The SPV will reimburse, upon receipt
of invoice, the holding company for an annual fixed fee. The amount of such reimbursement is not offset
against management fees.
Regulatory Assets Under Management
As of December 31, 2023, Digital Bridge had regulatory assets under management of approximately
$13,465,617,648 of which approximately $9,210,836,124 was managed on a discretionary basis and
approximately $4,254,781,524 was managed on a non-discretionary basis.