Quarterly report pursuant to Section 13 or 15(d)

BUSINESS COMBINATION AND GOODWILL (Tables)

v3.23.3
BUSINESS COMBINATION AND GOODWILL (Tables)
 9 Months Ended
Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Identifiable Assets Acquired and Liabilities Assumed Accordingly, these provisional values may be subject to adjustment during the measurement period, not to exceed one year from the Acquisition Date, based upon new information obtained about facts and circumstances that existed at the time of closing (in thousands).
Consideration
Cash $ 319,364 
Liabilities assumed 736 
Total consideration $ 320,100 
Assets acquired and liabilities assumed
Net tangible acquired assets $ 80,081 
Trade name(1)
3,000 
Client relationship(1)
48,000 
Management contracts(1)
98,000 
Fair value of net identifiable assets acquired $ 229,081 
Non-controlling interest(1)
(86,365)
Goodwill(1)
177,384 
Total assets acquired and liabilities assumed, net $ 320,100 
(1)The fair value was determined using Level 3 assumptions.
The following table summarizes the total consideration for the GBC Acquisition and the related purchase price allocation for the assets acquired, liabilities assumed and non-controlling interests (in thousands):
Consideration
Cash $ 15,089 
Class A Units 14,930 
Total consideration for equity interest acquired $ 30,019 
Assets acquired, liabilities assumed and non-controlling interests
Cash $ 56 
Working capital 623 
Trade name(1)
150 
In place contracts(1)
3,195 
Other liabilities (104)
Fair value of net assets acquired $ 3,920 
Non-controlling interest(1)
(20,053)
Goodwill(1)
46,152 
Total assets acquired, liabilities assumed and non-controlling interests, net $ 30,019 
(1)The fair value was determined using Level 3 assumptions.
Schedule of Supplemental Information for Pro Forma
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