Colony Capital, Inc. (NYSE: CLNY) yesterday announced a corporate rebranding of the company to DigitalBridge, effective June 22, 2021. Digital Colony, the company’s digital infrastructure investment platform, will also change to operate under the DigitalBridge brand. In connection with the transition, the corporate name will be changed to DigitalBridge Group, Inc. and the company will begin trading under a new NYSE ticker symbol, DBRG, as of June 22, 2021.
According to Marc Ganzi, President and CEO of Colony Capital and CEO of Digital Colony, the new name reflects the significant business transformation the company has undergone since the leadership and board of directors decided to focus exclusively on the digital infrastructure sector. The ‘new’ name, DigitalBridge, he said, evokes its heritage as an early innovator in digital infrastructure, while looking forward to a fully digital, interconnected future.
“The vision we crafted, bringing a digital infrastructure platform built on two decades of operating experience and deep industry relationships together with an institutional capital formation capability and global enterprise-grade operations,” Ganzi said, “has reached its next phase. Today as one company, DigitalBridge, we’re a unique digital infrastructure business, with both the operating DNA and access to institutional capital that positions us to execute globally on a converging digital infrastructure ecosystem. We are poised to build, operate, and finance a new era in connectivity, leveraging a single platform focused on the full spectrum of digital infrastructure including towers, data centers, fiber, and small cells.”
“We are on track to rotate $100 billion in AUM ‘from diversified to digital’ and are now 80 percent rotated on a pro forma basis,” he said, “following our agreement, announced yesterday, to divest the bulk of our Other Equity & Debt (OED) business for over a half-billion dollars. This is the natural moment for us to reactivate DigitalBridge, advancing our strategy as we connect networks, companies, geographies, and communities on a global basis.”
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