Friday, July 26, 2019

Colony Capital Acquires Digital Bridge for $325 Million

Colony Capital, Inc. (NYSE: CLNY), a global investment management firm, announced that it acquired Digital Bridge Holdings LLC (“Digital Bridge”) for $325 million. The Digital Bridge acquisition follows the May 2019 final closing of Digital Colony Partners, a $4.05 billion fund sponsored by Colony and Digital Bridge. Digital Colony Partners is dedicated to global opportunities in digital infrastructure and is the largest first-time institutional fund of this type.

Following a transition period, Marc Ganzi, a founder and Chief Executive Officer of Digital Bridge, and Managing Partner and an Investment Committee Member at Digital Colony, will become the CEO of Colony, succeeding Thomas J. Barrack, Jr., who will return to the position of Executive Chairman. Ganzi will focus with Barrack, the Colony board, and executive team to continue Colony’s strategic plan of selling non-core assets, reducing G&A, growing investment management, generating liquidity and de-risking, and maintaining REIT status and a dividend. Continue Reading

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