Quarterly report pursuant to Section 13 or 15(d)

BUSINESS COMBINATION AND GOODWILL (Tables)

v3.24.3
BUSINESS COMBINATION AND GOODWILL (Tables)
 9 Months Ended
Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Identifiable Assets Acquired and Liabilities Assumed
The following table summarizes the total consideration for the Newbury Acquisition and the related purchase price allocation for the assets acquired, liabilities assumed and non-controlling interests (in thousands):
Consideration
Cash $ 319,364 
Liabilities assumed 736 
Total consideration $ 320,100 
Assets acquired and liabilities assumed
Net tangible acquired assets $ 77,732 
Trade name(1)
3,000 
Client relationship(1)
48,000 
Management contracts(1)
98,000 
Fair value of net identifiable assets acquired $ 226,732 
Non-controlling interest(1)
(84,234)
Goodwill(1)
177,602 
Total assets acquired and liabilities assumed, net $ 320,100 
(1)The fair value was determined using Level 3 assumptions.
Schedule of Supplemental Information for Pro Forma
Unaudited supplemental information on a pro forma basis, as if the Newbury Acquisition had been consummated on January 1, 2022, is as follows (in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2023 2022 2023 2022
Total revenues and investment (loss) income $ 76,093  $ 127,869  $ 162,391  $ 532,594 
Net income (loss) attributable to Bridge Investment Group Holdings Inc. 294  4,359  (4,749) 25,782