Colony Capital Buys Digital Bridge in $325M Deal
Following a transition period, Marc C. Ganzi, a founder and CEO of Digital Bridge, will succeed Thomas J. Barrack Jr. as CEO.
Colony Capital has acquired Digital Bridge Holdings for $325 million. The acquisition is part of Colony’s strategy to position itself as an owner and investment manager of assets, businesses and investment management products of in the real estate technology market. The combination of the two companies creates a portfolio of $60 billion in managed assets.
Following a transition period of 18 to 24 months, Marc C. Ganzi, a founder and CEO of Digital Bridge, will succeed Colony’s Thomas J. Barrack Jr. as CEO. Barrack will retain the role of executive chairman at the combined company.
The two companies closed the co-sponsored fund Digital Colony Partners in May. The fund focused on global opportunities in digital infrastructure and is valued at $4.05 billion. It is the largest fund of this type.