Best practices for digital infrastructure businesses impacted by SVB's collapse
The sudden and unexpected closure of Silicon Valley Bank (SVB), which managed US$212 billion in assets, has sent shockwaves through the financial community hav...
Some of the capital has already been used to fund towers, easements, hyperscale data centres, edge infrastructure and other projects.
Founder and Editor, The Tech Capital
January 19, 2022 | 11:48 AM GMT
DigitalBridge Group, Inc. (NYSE: DBRG) said DigitalBridge Investment Management, the firm’s investment management platform (collectively “DigitalBridge”), has closed its second flagship fund, DigitalBridge Partners II, LP (formerly DCP II) with US$8.3 billion in commitments, surpassing its original target of $6.0 billion.
The Fund received strong demand from a diverse, global group of new and existing investors, resulting in an over 100 percent re-up rate from the predecessor fund based on committed capital and over 70 percent based on the number of investors.
The fundraising, led by DigitalBridge’s in-house Capital Formation team, was launched in the Summer of 2020, and active fundraising efforts were materially concluded early in the fourth quarter of 2021.
Marc Ganzi, President and CEO of DigitalBridge, said: “We are pleased to have completed the close of our second and largest fund to date, which significantly exceeded our initial target.
“The solid support from LPs is a testament to their confidence in our experienced team, unique investment strategy and the compelling opportunities ahead in digital infrastructure.”
The Fund has already invested in nine portfolio companies across towers, easements, hyperscale data centres, edge infrastructure, indoor DAS infrastructure and fibre, running reliable, mission-critical network infrastructure for many of the world’s leading hyperscale cloud providers and mobile network operators.
Ganzi added: “We look forward to continuing our momentum and driving returns as we strategically deploy capital from DBP II to partner with growing and entrepreneurial businesses that are enabling the next generation of mobile and internet connectivity.”
Also commenting, Kevin Smithen, Chief Commercial and Strategy Officer of DigitalBridge, said: “Our robust investment pipeline, specialist focus, strategic customer relationships and impactful decarbonization and other ESG initiatives continue to set us apart as the leading digital infrastructure investment manager.
“We are well positioned to build on our proven track record of strengthening businesses, generating positive outcomes for portfolio companies and delivering strong, sustainable value for investors.”
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