The following is a summary of the DigitalBridge Group, Inc. (DBRG) Q1 2024 Earnings Call Transcript:

Financial Performance:

• DigitalBridge Group reported fee revenues of $72.8 million for Q1 2024, a 21% increase on a year-over-year basis.

• The fee earning equity under management (FEEUM) rose by 17% to $32.5 billion at the end of Q1 2024.

• The company is expecting to see continued growth of fee revenue and improvements in operating leverage and FRE margins throughout 2024.

Business Progress:

• DigitalBridge Group successfully closed on $1.1 billion in new capital commitments in Q1 2024, marking a 47% increase from the previous year.

• The company's growth in FEEUM was largely driven by DigitalBridge Partners III and expanding multi-strat offerings.

• The company is taking significant steps towards making their data centers entirely powered by renewable energy and have a pipeline of over 5 gigawatts for future growth.

• Portfolio companies are expected to invest over $11 billion in data center CapEx globally over the next few years.

• Several portfolio companies, including DataBank, Vantage, AtlasEdge, and Scala are progressing with global workloads.

• A significant uptick was seen in bookings with Zayo, especially with hyperscalers and web-scale routes.

• In addition to their focus on data centers, the company also sees value in the fiber sector, particularly residential fiber, and is actively pursuing new opportunities in this space.

• The company is currently evaluating their stand on tower acquisition and integration and has a bullish stance on small cell infrastructure, Wi-Fi 6, and private 5G networks in the long-term.

More details: DigitalBridge Group IR

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