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Bridge Investment Group Holdings Inc. Class A (BRDG-3.69%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, including a 6% increase in total revenues to $412.4 million, driven by growth in fund management fees and transaction fees, despite a decrease in property management and construction management fees.
Fund management fees increased by 7% to $245.9 million, attributed to capital raising activities and deployment in logistics, credit, and workforce housing funds.
Net performance allocations saw a significant increase, with realized performance allocations at $49.2 million and unrealized losses reduced to $42.4 million, reflecting improved market conditions.
Employee compensation and benefits rose by 14% to $251.3 million, largely due to increased headcount and inflation adjustments.
The filing also reports a decrease in net income attributable to non-controlling interests in Bridge Investment Group Holdings LLC, reflecting changes in the company's ownership structure and the impact of profits interests awards.
The company announced a proposed merger agreement with Apollo Global Management, Inc., with an expected closing in the third quarter of 2025, subject to customary conditions.
Bridge Investment Group Holdings Inc. Class A's assets under management increased to $49.8 billion, with fee-earning assets under management at $22.3 billion as of December 31, 2024.
The filing includes a detailed analysis of the company's liquidity and capital resources, highlighting a net increase in cash and cash equivalents to $90.6 million.
The company remains in compliance with all debt covenants and has no outstanding balance on its credit facility, with $150.0 million of available capacity.
Bridge Investment Group Holdings Inc. Class A continues to focus on expanding its investment strategies across real estate, credit, renewable energy, and secondaries markets, leveraging its vertically integrated business model.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bridge Investment Group Holdings Inc. Class A annual 10-K report dated March 7, 2025. To report an error, please email earnings@qz.com.