ADIA Acquires a 40% Stake in Landmark Dividend

Rhea-AI Summary

DigitalBridge Group, Inc. announces that a subsidiary of the Abu Dhabi Investment Authority will acquire a 40% stake in Landmark Dividend LLC. The investment includes a significant commitment to support Landmark's growth. The transaction is expected to close in the first half of 2024.

Partners with DigitalBridge to Support the Next Phase of Landmark Dividend’s Growth

BOCA RATON, Fla.--(BUSINESS WIRE)-- DigitalBridge Group, Inc. (NYSE: DBRG) (“DigitalBridge”) today announced that a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) will acquire a 40% stake in Landmark Dividend LLC (“Landmark”), a leading acquirer and developer of real estate and infrastructure focused on the wireless communication, digital infrastructure, outdoor advertising, and renewable power industries. The investment includes a significant commitment from ADIA and DigitalBridge-sponsored vehicles to support the continued expansion of Landmark’s growth platform.

Khadem AlRemeithi, Executive Director of the Infrastructure Department at ADIA, said, “Under DigitalBridge’s ownership, Landmark has solidified its position as one of the preeminent acquirers of digital infrastructure real estate assets globally. The company has already built a portfolio of high quality real assets, and our investment aims to support Landmark’s next phase of growth.”

Steven Sonnenstein, Senior Managing Director at DigitalBridge and Chairman of the Board at Landmark, said, “ADIA’s investment in Landmark is testament to the company's long-term potential and attractive position in the market, and we are delighted to partner with ADIA to further fuel Landmark’s growth. We are proud of the reputation Landmark has built for excellence in infrastructure and real estate investment, and we look forward to creating more opportunities for Landmark’s clients and stakeholders.”

Tim Brazy, Chief Executive Officer at Landmark Dividend, said, “We welcome ADIA to Landmark. This investment marks an exciting new phase of growth for our business. With the support of our new stakeholder, alongside DigitalBridge, we are well-prepared to strengthen our position and offer our clients a broader spectrum of top-tier investment solutions.”

The transaction will require regulatory approvals and is expected to close in the first half of 2024.

TAP Advisors is serving as financial advisor to DigitalBridge, and Simpson Thacher & Bartlett, LLP is serving as legal advisor to DigitalBridge.

Gibson Dunn is serving as legal advisor to ADIA.

About ADIA

Established in 1976, the Abu Dhabi Investment Authority (“ADIA”) is a globally diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. For more information: https://www.adia.ae

About DigitalBridge

DigitalBridge (NYSE: DBRG) is a leading global alternative asset manager dedicated to investing in digital infrastructure. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem, including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages $75 billion of infrastructure assets on behalf of its limited partners and shareholders. Headquartered in Boca Raton, DigitalBridge has key offices in New York, Los Angeles, London, Luxembourg, and Singapore. For more information, visit: www.digitalbridge.com.

About Landmark Dividend LLC

Landmark Dividend LLC is a real estate and infrastructure acquisition and development company focusing on the digital infrastructure, wireless communication, outdoor advertising and renewable power generation industries. Landmark Dividend currently manages over 5,000 assets. For more information, visit: www.landmarkdividend.com

Cautionary Statement Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that might cause such a difference whether the transaction will close on the anticipated time frame, the ability of the Landmark to continue to grow its platform and other risks and uncertainties, including those detailed in DigitalBridge’s Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023 and September 30, 2023, and its other reports filed from time to time with the U.S. Securities and Exchange Commission. All forward-looking statements reflect DigitalBridge’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. DigitalBridge cautions investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release. DigitalBridge is under no duty to update any of these forward-looking statements after the date of this press release, nor to conform prior statements to actual results or revised expectations, and DigitalBridge does not intend to do so.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231101341842/en/

Investors:

Severin White

Managing Director, Head of Public Investor Relations

(212) 547-2777

severin.white@digitalbridge.com

Media:

Joele Frank, Wilkinson Brimmer Katcher

Aura Reinhard / Sarah Salky

(212) 355.4449

dbrg-jf@joelefrank.com

Garry Nickson

Abu Dhabi Investment Authority

T: +971 2 415 6085

E: Garry.Nickson@adia.ae

Source: DigitalBridge Group, Inc.

FAQ

Who is acquiring a stake in Landmark Dividend LLC?

A subsidiary of the Abu Dhabi Investment Authority.

What industries does Landmark Dividend focus on?

Wireless communication, digital infrastructure, outdoor advertising, and renewable power.

When is the transaction expected to close?

In the first half of 2024.

Who is serving as financial advisor to DigitalBridge?

TAP Advisors.

Who is serving as legal advisor to DigitalBridge?

Simpson Thacher & Bartlett, LLP.

Who is serving as legal advisor to ADIA?

Gibson Dunn.