Digital Bridge, which owns a broad range of communications infrastructure including Vertical Bridge and ExteNet, has been purchased by Colony Capital, a global real estate investment firm, for $325 million. During the next two years, Marc Ganzi, a founder and CEO of Digital Bridge and a managing partner at Digital Colony (a combo of Digital Bridge and Colony Capital), will transition into the role of CEO of Colony Capital, succeeding Thomas J. Barrack Jr.
“I have known Marc Ganzi for over two decades and have admiringly watched his progression and success as an entrepreneur, visionary, and as the leading operator and investor in the digital world,” Barrick said. “Since Marc founded Global Tower Partners in 2002, he has been at the forefront of trends in the digital world, capitalizing on the overwhelming integration of mobile connectivity into the global economy and delivering remarkable returns for his investors in the process.
“[Ganzi] is an exceptional choice to lead our combined companies, investors, and employees as we accelerate, streamline, and cull other Colony business lines through sale or joint ventures and continue to reduce corporate costs,” he added.
The Digital Bridge acquisition follows the May 2019 closing of a $4.05 billion fund sponsored by Digital Colony and Digital Bridge. Digital Bridge manages nearly $20 billion of digital infrastructure globally, directly and through Digital Colony Partners, and the combined portfolio of the two firms will be $60 billion of assets.
“This acquisition continues Colony’s strategy of building leading investment management platforms, adding a powerful focus on assets and businesses that benefit from the increasingly digital world, including communications infrastructure, quant-driven listed securities products, artificial intelligence, digital credit products, smart logistics industrial, private equity and emerging markets infrastructure and growth equity strategies,” the company said in a press release.