DigitalBridge has closed its latest $8.3 billion digital infrastructure investment fund.
DigitalBridge Group, Inc. this week announced that DigitalBridge Investment Management, the firm’s investment management platform closed its second flagship fund, DigitalBridge Partners II, LP, with $8.3 billion in commitments.
The fundraising, led by DigitalBridge’s in-house Capital Formation team, was launched in the summer of 2020 with an original target of $6bn and concluded early in the fourth quarter of 2021.
"We are pleased to have completed the close of our second and largest fund to date, which significantly exceeded our initial target,” said Marc Ganzi, president and CEO of DigitalBridge. “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.”
“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.”
The company said the fund has already invested in nine portfolio companies across towers, easements, hyperscale data centers, Edge infrastructure, indoor DAS infrastructure, and fiber.
The company told Infrastructure Investor that as well as a large number of re-investments from existing customers, the fund had attracted commitments from ‘several large US pension funds’, a number of Asian investment companies, and interest from European insurance & pension funds.
“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,” said Kevin Smithen, Chief Commercial and Strategy Officer of DigitalBridge. “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.”
