Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Operations (Unaudited)

v3.22.2
Condensed Consolidated and Combined Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Total revenues $ 99,019 $ 71,974 $ 203,152 $ 130,523
Investment income:        
Incentive fees 0 0 0 910
Performance allocations:        
Realized 33,581 35,629 42,518 41,185
Unrealized 70,116 43,248 135,978 57,967
Earnings (losses) from investments in real estate 1,251 980 1,291 976
Total investment income 104,948 79,857 179,787 101,038
Expenses:        
Employee compensation and benefits 46,693 42,306 94,172 69,457
Incentive fee compensation 0 0 0 82
Performance allocations compensation:        
Realized 2,165 3,747 2,725 4,241
Unrealized 7,987 6,048 17,225 7,477
Loss and loss adjustment expenses 1,439 2,132 3,191 2,917
Third-party operating expenses 6,749 6,117 13,517 14,743
General and administrative expenses 9,769 5,392 19,277 9,492
Depreciation and amortization 887 727 1,520 1,480
Total expenses 75,689 66,469 151,627 109,889
Other income (expense):        
Realized and unrealized gains (losses), net 3,489 300 3,916 6,097
Interest income 1,353 557 2,562 1,165
Interest expense (2,901) (2,554) (4,522) (4,140)
Total other income (expense) 1,941 (1,697) 1,956 3,122
Income before provision for income taxes 130,219 83,665 233,268 124,794
Income tax provision (5,837) (424) (11,382) (834)
Net income 124,382 83,241 221,886 123,960
Net income attributable to non-controlling interests 49,748 5,815 86,461 9,764
Net income attributable to Bridge Investment Group Holdings LLC 74,634 $ 77,426 135,425 $ 114,196
Net income attributable to Common Control Group prior to Transactions and IPO $ 12,940   $ 22,711  
Earnings per share of Class A common stock - Basic and Diluted (Note 21)        
Basic (in dollars per share) $ 0.44 $ 0.79
Diluted (in dollars per share) $ 0.44 $ 0.79
Weighted-average shares of Class A common stock outstanding - Basic and Diluted (Note 21)        
Basic (in shares) 24,029,107 23,581,393
Diluted (in shares) 24,029,107 23,581,393
Fund management fees        
Revenues:        
Total revenues $ 49,380 $ 34,536 $ 102,080 $ 65,387
Property management and leasing fees        
Revenues:        
Total revenues 19,616 14,335 37,895 31,081
Construction management fees        
Revenues:        
Total revenues 2,426 2,065 4,312 3,891
Development fees        
Revenues:        
Total revenues 793 1,163 2,052 1,549
Transaction fees        
Revenues:        
Total revenues 17,643 16,242 39,641 21,568
Fund administration fees        
Revenues:        
Total revenues 3,657 0 7,297 0
Insurance premiums        
Revenues:        
Total revenues 2,845 2,022 5,261 3,916
Other asset management and property income        
Revenues:        
Total revenues 2,659 1,611 4,614 3,131
Common Control Group        
Other income (expense):        
Net income attributable to Common Control Group prior to Transactions and IPO 0 77,426 0 114,196
Bridge Investment Group Holdings Inc.        
Other income (expense):        
Net income attributable to non-controlling interests 61,694 0 112,714 0
Net income attributable to Bridge Investment Group Holdings Inc. subsequent to Transactions and IPO $ 12,940 $ 0 $ 22,711 $ 0