Annual report pursuant to Section 13 and 15(d)

Consolidated and Combined Statements of Operations

v3.22.4
Consolidated and Combined Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Total revenues $ 409,049 $ 330,014 $ 231,948
Investment income:      
Incentive fees 0 2,469 0
Performance allocations:      
Realized 69,280 80,970 42,365
Unrealized 115,175 248,647 61,803
Earnings from investments in real estate 2,169 2,132 522
Total investment income 186,624 334,218 104,690
Expenses:      
Employee compensation and benefits 196,629 142,707 100,932
Incentive fee compensation 0 215 0
Performance allocations compensation:      
Realized 4,396 6,611 4,281
Unrealized 24,870 31,069 8,983
Loss and loss adjustment expenses 6,520 8,075 3,119
Third-party operating expenses 25,675 33,427 28,415
General and administrative expenses 41,070 24,815 17,249
Depreciation and amortization 2,936 2,830 3,214
Total expenses 302,096 249,749 166,193
Other income (expense):      
Realized and unrealized gains, net 4,215 9,368 549
Interest income 7,867 3,265 1,527
Other income (expense), net 1,246 (1,723) 0
Interest expense (12,340) (8,504) (5,058)
Total other income (expense) 988 2,406 (2,982)
Income before provision for income taxes 294,565 416,889 167,463
Income tax provision (22,195) (8,262) (1,006)
Net income 272,370 408,627 166,457
Net income attributable to non-controlling interests 88,141 155,922 19,535
Net income attributable to Bridge Investment Group Holdings LLC 184,229 $ 252,705 $ 146,922
Net income attributable to Common Control Group prior to Transactions and IPO $ 27,269    
Earnings per share of Class A common stock - Basic and Diluted      
Basic (in dollars per share) $ 0.92 $ 0.93 [1] $ 0
Diluted (in dollars per share) $ 0.92 [1] $ 0.93 [1] $ 0
Weighted-average shares of Class A common stock outstanding - Basic and Diluted      
Basic (in shares) 23,928,408 22,515,868 [1] 0
Diluted (in shares) 23,928,408 22,515,868 [1] 0
Fund management fees      
Revenues:      
Total revenues $ 221,584 $ 155,928 $ 110,235
Property management and leasing fees      
Revenues:      
Total revenues 76,210 69,654 59,986
Construction management fees      
Revenues:      
Total revenues 10,973 8,292 8,155
Development fees      
Revenues:      
Total revenues 4,688 3,703 1,966
Transaction fees      
Revenues:      
Total revenues 56,205 75,073 39,298
Fund administration fees      
Revenues:      
Total revenues 15,031 0 0
Insurance premiums      
Revenues:      
Total revenues 12,856 10,051 6,291
Other asset management and property income      
Revenues:      
Total revenues 11,502 7,313 6,017
Net Investment in CCG      
Other income (expense):      
Net income attributable to Common Control Group prior to Transactions and IPO 0 117,971 146,922
Bridge Investment Group Holdings Inc.      
Other income (expense):      
Net income attributable to non-controlling interests 156,960 111,508 0
Net income attributable to Bridge Investment Group Holdings Inc. subsequent to Transactions and IPO $ 27,269 $ 23,226 $ 0
[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.