Bridge Investment Group Holdings Inc. Reports Third Quarter 2023 Results

Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) today reported its financial results for the quarter ended September 30, 2023.

Net Income (Loss) was $(17.9) million for the quarter ended September 30, 2023. On a basic and diluted basis, net income (loss) attributable to Bridge per share of Class A common stock was $(0.04).

Distributable Earnings of Bridge Investment Group Holdings LLC (the “Operating Company”) were $40.8 million, or $0.22 per share after-tax, for the quarter ended September 30, 2023. Fee Related Earnings to the Operating Company were $36.0 million for the quarter ended September 30, 2023.

Robert Morse, Bridge’s Executive Chairman, stated “Bridge delivered resilient third quarter results aided by 20% year-over-year growth in recurring fund management fees, despite continued market volatility creating headwinds in capital raising and deployment. Bridge remains well positioned by our differentiated exposure to some of the most attractive sectors within private markets underpinned by long-term demand drivers including residential rental, logistics, credit and secondaries strategies.”

Jonathan Slager, Bridge’s Chief Executive Officer, added “In uncertain times, Bridge’s diversification within real estate, credit and secondaries have served the Company well by providing additional stability to our long duration fee-earning AUM. Looking forward, our $3.6 billion of dry powder puts us in a strong position for when opportunities arise and conditions normalize.”

Common Dividend

Bridge declared a quarterly dividend of $0.17 per share of its Class A common stock, payable on December 15, 2023 to its Class A common stockholders of record at the close of business on December 1, 2023.

Additional Information

Bridge Investment Group Holdings Inc. issued a full detailed presentation of its third quarter 2023 results, which can be viewed on the Investors section of our website at www.bridgeig.com. The presentation is titled “Third Quarter 2023 Earnings Presentation.”

Conference Call and Webcast Information

The Company will host a conference call on November 8, 2023 at 8:30 a.m. ET to discuss its third quarter 2023 results. Interested parties may access the conference call live over the phone by dialing 1-877-405-1210 (domestic) or 1-201-689-8721 (international) and requesting Bridge Investment Group Holdings Inc.’s Third Quarter 2023 Earnings Conference Call. Participants are asked to dial in a few minutes prior to the call to register for the event. The event will also be available live via webcast which can be accessed here or from our Investor Relations website https://ir.bridgeig.com.