DigitalBridge has closed its digital infrastructure credit fund, DigitalBridge Credit (DBC), having raised $1.1 billion.
DBC is the company's inaugural fund in its credit strategy and will be used to support the growth of companies within the digital infrastructure sector.
A variety of investors have contributed to the DBC fund, including pension funds, insurance companies, sovereign wealth funds, asset managers, family offices, and private wealth platforms, some of which are existing DigitalBridge investors.
“This closing is an important milestone for the firm’s credit platform and reflects a great partnership with investors and clients,” said Dean Criares, head of credit at DigitalBridge. “Establishing DigitalBridge’s brand within the expanding private credit sector reflects support from senior management and the strength of our relationships and partnerships with industry experts as we source and diligence opportunities.”
DBC has so far made 11 investments in the digital infrastructure sector including data centers, fiber, satellite broadband, and cloud infrastructure. During the recent Q3 results call, CEO Marc Ganzi shared that among the investments was a financing deal for GPU-cloud provider CoreWeave.
Ganzi further added that the fund currently has a pipeline of more than 60 loans in the works. DBC is focused on current income-based returns in first lien term loans, second lien term loans, and junior debt. Latham & Watkins LLP served as advisors on the fund.
Digital Bridge also recently closed its third flagship fund - DigitalBridge Partners III with $2.2bn. The fund was launched in June 2022 and targeted $8bn.
