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Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteColony Capital’s 2019 acquisition of Digital Bridge Holdings came with a succession plan: co-founder Marc Ganzi was named as Tom Barrack’s successor and took over as CEO on July 1, 2020. Barrack then remained Executive Chairman, a role that was eliminated in 2021; he left the board that July. The transaction was announced at $325 million, consisting of cash and operating partnership units—not an all-cash purchase.
Why was Barrack stepping down as CEO?
The planned leadership change was tied to Colony Capital’s acquisition of Digital Bridge Holdings, an investment manager focused on digital real estate and infrastructure. Colony said the deal supported its strategic move toward that sector. That rationale was the company’s stated aim; the transaction price alone does not establish whether the acquisition achieved its intended returns.
In its July 2019 filing, Colony said Barrack would leave the CEO role when Ganzi became CEO but remain Executive Chairman. The filing recorded Barrack’s stated plan: “Barrack, Jr., has indicated that, upon the appointment of Mr. Ganzi as the Company’s Chief Executive Officer, Mr. Barrack would step down from his role as the Company’s Chief Executive Officer but would continue in his role as Executive Chairman.” (Colony Capital Form 8-K)
Who took over, and when?
Marc Ganzi, Digital Bridge’s co-founder, was designated as Barrack’s successor in the 2019 plan. The handover took effect on July 1, 2020, according to Colony’s later SEC filing. (Colony Capital 2020 filing; DigitalBridge 2021 quarterly filing)
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What did Colony pay for Digital Bridge?
Colony Capital, Inc. completed its acquisition of Digital Bridge Holdings, LLC on July 25, 2019, for an aggregate purchase price of $325 million. The filing breaks down the consideration as follows:
- $216.7 million in cash.
- 21,478,515 operating partnership units.
Those figures describe the reported purchase consideration, not the value of Digital Bridge’s underlying portfolio or a measure of the deal’s later performance. Colony acquired Digital Bridge Holdings, the investment manager; the transaction should not be described as Colony purchasing every underlying portfolio asset outright. (Colony Capital Form 8-K)
What did Digital Bridge do?
Digital Bridge invested in and operated companies that enabled mobile and internet connectivity. Colony described the wider digital infrastructure and real estate ecosystem as including data centers, cell towers, fiber networks, and small cells. These are examples of the sector connected to the acquisition, not a list of assets Colony necessarily bought directly in the transaction. (Colony Capital 2020 filing)
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to Barrack and Colony after the handover?
Barrack’s initial continuation as Executive Chairman was separate from his CEO succession. The company later eliminated the Executive Chairman position effective April 1, 2021, and Barrack resigned from its board in July 2021, according to DigitalBridge’s 2022 proxy statement. (DigitalBridge 2022 Proxy Statement)
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Colony Capital changed its name to DigitalBridge Group, Inc., effective June 21, 2021. The rebrand came after Ganzi’s appointment as CEO and should not be confused with the 2019 acquisition announcement. (DigitalBridge name-change Form 8-K)
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- Author: Bungay Stanier, Michael.
- Publisher: Page Two
- Pages: 244
- Publication Date: 2016-02-29
- Edition: 1
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