DigitalBridge is an alternative asset manager focused exclusively on digital infrastructure — data centers, cell towers, fiber networks, and related assets. Rather than owning assets on its own balance sheet, DigitalBridge raises capital from over 150 institutional LPs and deploys it through a suite of investment funds and co-investment vehicles, earning management fees and carried interest as a GP. The firm had $41B in fee-earning equity under management (FEEUM) as of year-end 2025. DigitalBridge is in the process of being acquired by SoftBank for $16.00 per share in cash, with the deal expected to close in the second half of 2026. DigitalBridge's portfolio spans roughly 11 data center platforms globally — including Vantage Data Centers, Switch, and DataBank — plus around 10 tower companies and several fiber businesses. Management fees are the core revenue driver, charged as a percentage of FEEUM, with FRE margins approaching ~38%. Carried interest, equal to up to 20% of fund profits above a preferred return hurdle, is largely unrealized today but is expected to begin materializing in 2026-2027 as the firm's earlier fund vintages mature. A key growth driver is DigitalBridge's position in AI infrastructure: the firm has assembled over 20 GW of secured power capacity across its data center platforms, which it argues is a structural competitive advantage as power availability is the primary bottleneck for hyperscale AI buildouts. DigitalBridge is also expanding into private wealth distribution through a partnership with Franklin Templeton.