DigitalBridge Group has agreed to acquire New York investment firm Wafra’s 31.5 percent ownership in DigitalBridge’s investment-management subsidiary.
DigitalBridge said the transaction advances its partnership with Wafra from a subsidiary to the corporate level, in addition to other benefits. DigitalBridge will pay $410 million of newly issued class-A common stock and a cash consideration of $390 million for the stake.
“This announcement marks a natural evolution of our successful partnership with Wafra, driven by the success and speed of our asset rotation to 100 percent digital and rapid growth in our DigitalBridge IM platform,” said Marc Ganzi, CEO of DigitalBridge. “It also underscores Wafra’s continuing confidence in our ability to pursue and execute on the industry’s most compelling digital infrastructure investment opportunities.”
The transaction is expected to close during second quarter 2022, subject to regulatory clearance and other cu