DigitalBridge Group, Inc. (NYSE:DBRG) Q2 2024 Earnings Conference Call August 1, 0000 8:30 AM ET

Company Participants

Severin White - Head of IR
Marc Ganzi - Chief Executive Officer
Tom Mayrhofer - Chief Financial Officer

Conference Call Participants

Ric Prentiss - Raymond James
Richard Choe - JP Morgan
Jade Rahmani - KBW

Operator

Good day and welcome to DigitalBridge Group, Inc Second Quarter 2024 Earnings Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this conference is being recorded.

I would now like to turn the conference over to Severin White, Head of IR. Please go ahead.

Severin White

Good afternoon, everyone, and welcome to DigitalBridge’s second quarter 2024 earnings conference call. Speaking on the call today from the company is Marc Ganzi, our CEO, and Tom Mayrhofer, our CFO.

I'll quickly cover the safe harbor. Some of the statements that we make today regarding our business operations and financial performance may be considered forward-looking. And such statements involve a number of risks and uncertainties that could cause actual results to differ materially. All information discussed on this call is as of today, August 7th, 2024, and Digital Bridge does not intend and undertakes no duty to update it for future events or circumstances. For more information, please refer to the risk factors discussed in our most recent Form 10-K filed with the SEC for the year ending December 31, 2021, and our Form 10-Q to be filed with the SEC for the quarter ending June 30, 2024.

Great. With that, let's get started and I'll turn the call over to Mark Gansi, our CEO. Mark?

Marc Ganzi

Thanks, Devin, and welcome everyone to our second quarter of 2024 business update. I appreciate the opportunity to outline some of the compelling progress we've made year-to-date, building and scaling DigitalBridge. As you'll see today, we've made tangible progress across many of our key 2024 priorities, particularly around capital formation linked to the AI infrastructure ecosystem.

So let's get started. First and foremost, number one, financial performance. Delivering pure leading revenue growth with expanding operating margins is central to the DigitalBridge investment thesis. We've delivered that growth this quarter with management fee revenues up 18% over the prior year along with growing margins. Tom will walk you through the financials later in this call.

Second, as you know, the key driver of these management fees and fee-related earnings over time is new capital formation. Here, our AI-powered data center vertical is increasingly a key focus for our global limited partners. It's underpinning strong capital formation across debt and equity markets to support the growth of our portfolio and it's catalyzing new investment solutions. This is where our position as the largest private manager of data centers globally really matters. I'll walk you through why this is important to us today.