Annual report pursuant to Section 13 and 15(d)

Consolidated and Combined Statements of Operations

v3.24.0.1
Consolidated and Combined Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Total revenues $ 390,648 $ 409,049 $ 330,014
Investment (loss) income:      
Incentive fees 41 0 2,469
Performance allocations:      
Realized 41,102 69,280 80,970
Unrealized (172,730) 115,175 248,647
Earnings from investments in real estate 752 2,169 2,132
Total investment (loss) income (130,835) 186,624 334,218
Expenses:      
Employee compensation and benefits 220,869 196,629 142,707
Incentive fee compensation 4 0 215
Performance allocations compensation:      
Realized 7,779 4,396 6,611
Unrealized (10,570) 24,870 31,069
Loss and loss adjustment expenses 11,851 6,520 8,075
Third-party operating expenses 21,990 25,675 33,427
General and administrative expenses 54,201 41,070 24,815
Depreciation and amortization 16,360 2,936 2,830
Total expenses 322,484 302,096 249,749
Other (expense) income:      
Realized and unrealized (losses) gains, net (6,381) 4,215 9,368
Interest income 18,380 7,867 3,265
Other (expense) income, net (2,112) 1,246 (1,723)
Interest expense (28,495) (12,340) (8,504)
Total other (loss) income (18,608) 988 2,406
(Loss) income before provision for income taxes (81,279) 294,565 416,889
Income tax expense (6,127) (22,195) (8,262)
Net (loss) income (87,406) 272,370 408,627
Net (loss) income attributable to non-controlling interests in Bridge Investment Group Holdings LLC (79,900) 88,141 155,922
Net (loss) income attributable to Bridge Investment Group Holdings LLC (7,506) 184,229 252,705
Net income (loss) attributable to non-controlling interests in Bridge Investment Group Holdings Inc. (740) 156,960 111,508
Net (loss) income attributable to Bridge Investment Group Holdings Inc. $ (6,766) $ 27,269 $ 23,226
Earnings per share of Class A common stock - Basic and Diluted      
Basic (in dollars per share) [1] $ (0.46) $ 0.92  
Diluted (in dollars per share) [1] $ (0.46) $ 0.92  
Weighted-average shares of Class A common stock outstanding - Basic and Diluted      
Basic (in shares) [1] 25,998,863 23,928,408 22,515,868
Diluted (in shares) [1] 25,998,863 23,928,408 22,515,868
Fund management fees      
Revenues:      
Total revenues $ 230,572 $ 221,584 $ 155,928
Property management and leasing fees      
Revenues:      
Total revenues 77,704 76,210 69,654
Construction management fees      
Revenues:      
Total revenues 11,607 10,973 8,292
Development fees      
Revenues:      
Total revenues 2,919 4,688 3,703
Transaction fees      
Revenues:      
Total revenues 20,466 56,205 75,073
Fund administration fees      
Revenues:      
Total revenues 17,483 15,031 0
Insurance premiums      
Revenues:      
Total revenues 18,086 12,856 10,051
Other asset management and property income      
Revenues:      
Total revenues 11,811 11,502 7,313
Net Investment in CCG      
Other (expense) income:      
Net income attributable to Common Control Group prior to Transactions and IPO $ 0 $ 0 $ 117,971
[1] For the year ended December 31, 2021, the earnings per share amounts are for the period following the Transactions and IPO from July 16, 2021 through December 31, 2021. Refer to Note 1, “Organization” and Note 22, “Earnings per Share” for additional information.