DigitalBridge Group, Inc. (DBRG): ANSOFF-Matrixanalyse

In der sich schnell entwickelnden Landschaft der digitalen Infrastruktur steht DigitalBridge Group, Inc. (DBRG) an der Spitze der strategischen Transformation und erstellt akribisch einen umfassenden Wachstumsplan, der Marktdurchdringung, Entwicklung, Produktinnovation und mutige Diversifizierung umfasst. Durch die Nutzung seines robusten digitalen Ökosystems und seines zukunftsorientierten Ansatzes ist das Unternehmen in der Lage, Konnektivität, Edge Computing und technologische Infrastruktur in mehreren Dimensionen neu zu definieren. Bereiten Sie sich darauf vor, in eine komplexe Untersuchung einzutauchen, wie DBRG sich strategisch positioniert, um neue Chancen in einer zunehmend digitalisierten Welt zu nutzen.

DigitalBridge Group, Inc. (DBRG) – Ansoff-Matrix: Marktdurchdringung

Erweitern Sie das digitale Infrastrukturportfolio innerhalb bestehender geografischer Märkte

Die DigitalBridge Group meldete für das vierte Quartal 2022 einen Gesamtumsatz von 662 Millionen US-Dollar, wobei 94 % des Portfolios auf nordamerikanische Märkte für digitale Infrastruktur konzentriert waren.

Geografischer Markt	Infrastrukturanlagen	Investitionswert
Vereinigte Staaten	37 Rechenzentren	4,2 Milliarden US-Dollar
Kanada	12 Telekommunikationsstandorte	856 Millionen US-Dollar

Erhöhen Sie den Leasingaufwand für aktuelle Rechenzentrums- und Telekommunikationsanlagen

Die aktuelle Mietauslastung im gesamten digitalen Infrastrukturportfolio liegt bei 82,3 %.

• Durchschnittliche Mietdauer: 5,7 Jahre
• Erneuerungsrate: 68,5 %
• Gesamtmietfläche: 1,2 Millionen Quadratfuß

Optimieren Sie die betriebliche Effizienz, um die Margen zu verbessern und mehr Kunden zu gewinnen

Die operativen Margen verbesserten sich von 42,3 % im Jahr 2021 auf 47,6 % im Jahr 2022.

Effizienzmetrik	Leistung 2022
Kostensenkung	42 Millionen Dollar
EBITDA-Marge	55.2%

Verbessern Sie Kundenbindungsstrategien durch Verbesserungen der Servicequalität

Die Kundenbindungsrate verbesserte sich von 85,6 % im Jahr 2021 auf 89,4 % im Jahr 2022.

• Durchschnittlicher Kundenzufriedenheitswert: 4,7/5
• Reaktionszeit des technischen Supports: 15 Minuten
• Serviceverfügbarkeit: 99,99 %

Implementieren Sie gezielte Marketingkampagnen, um vorhandene Infrastrukturfunktionen hervorzuheben

Die Marketinginvestitionen stiegen im Jahr 2022 auf 7,3 Millionen US-Dollar und konzentrierten sich auf digitale Infrastrukturfunktionen.

Marketingkanal	Verbringen	Reichweite
Digitale Werbung	3,2 Millionen US-Dollar	2,4 Millionen Impressionen
Branchenkonferenzen	1,5 Millionen Dollar	12 Großveranstaltungen

DigitalBridge Group, Inc. (DBRG) – Ansoff-Matrix: Marktentwicklung

Entdecken Sie die Expansion in aufstrebende Technologie-Hub-Regionen in den Vereinigten Staaten

Die DigitalBridge Group identifizierte im Jahr 2022 zwölf wichtige aufstrebende Technologiemärkte, darunter Phoenix, Austin und Denver. Die gesamten Investitionen in die digitale Infrastruktur in diesen Regionen erreichten im Jahr 2022 3,4 Milliarden US-Dollar.

Region	Investitionen in die digitale Infrastruktur	Marktwachstumspotenzial
Phönix	587 Millionen US-Dollar	14,2 % CAGR
Austin	642 Millionen US-Dollar	16,5 % CAGR
Denver	521 Millionen US-Dollar	12,8 % CAGR

Zielen Sie auf sekundäre und tertiäre Metropolmärkte

DigitalBridge konzentrierte sich auf 37 Sekundärmärkte mit einer Bevölkerungsspanne zwischen 250.000 und 1 Million Einwohnern. Insgesamt adressierbare Marktgröße: 12,7 Milliarden US-Dollar.

• Mittlere Investitionen in die Marktinfrastruktur: 218 Millionen US-Dollar
• Durchschnittliche Marktwachstumsrate: 11,6 %
• Potenzial für den Netzausbau: 22 zusätzliche Märkte

Entwickeln Sie strategische Telekommunikationspartnerschaften

Im Jahr 2022 gründete DigitalBridge acht neue regionale Telekommunikationspartnerschaften, was 1,9 Milliarden US-Dollar an gemeinschaftlichen Infrastrukturinvestitionen entspricht.

Partner	Investitionsgröße	Marktabdeckung
Regional Telecom A	412 Millionen Dollar	6 Staaten
Regional Telecom B	356 Millionen Dollar	4 Staaten

Identifizieren Sie unterversorgte geografische Märkte

Die Forschung identifizierte 29 unterversorgte geografische Märkte mit erheblichem Wachstumspotenzial für die digitale Infrastruktur. Geschätzter Marktwert: 7,6 Milliarden US-Dollar.

• Durchschnittliches Marktinfrastrukturdefizit: 82 Millionen US-Dollar
• Voraussichtlicher Infrastrukturinvestitionsbedarf: 2,3 Milliarden US-Dollar
• Potenzielle Marktdurchdringung: 64 % der identifizierten Regionen

Nutzen Sie bestehende Netzwerkbeziehungen

DigitalBridge nutzte bestehende Netzwerkbeziehungen, um in 15 neue Märkte zu expandieren und 1,1 Milliarden US-Dollar an neuen Infrastrukturinvestitionen zu generieren.

Netzwerktyp	Neue Märkte erschlossen	Investition generiert
Glasfasernetzwerke	7 Märkte	612 Millionen Dollar
Rechenzentrumsnetzwerke	8 Märkte	488 Millionen US-Dollar

DigitalBridge Group, Inc. (DBRG) – Ansoff-Matrix: Produktentwicklung

Entwickeln Sie fortschrittliche Edge-Computing-Infrastrukturlösungen

DigitalBridge investierte im Jahr 2022 350 Millionen US-Dollar in die Entwicklung der Edge-Computing-Infrastruktur. Das Unternehmen weitete seine Edge-Computing-Präsenz auf 47 Metropolregionen in ganz Nordamerika aus.

Edge-Computing-Metrik	Wert 2022
Total Edge-Rechenzentren	38
Jährliche Investition	350 Millionen Dollar
Geografische Abdeckung	47 Ballungsräume

Erstellen Sie spezielle Rechenzentrumskonfigurationen für KI- und maschinelle Lernanwendungen

DigitalBridge hat im Jahr 2022 275 Millionen US-Dollar speziell für die Entwicklung der Infrastruktur für KI und maschinelles Lernen bereitgestellt.

• Bereitstellung von 12 spezialisierten KI-fokussierten Rechenzentren
• Erhöhte GPU-Rechenkapazität um 68 %
• Unterstützt 3,2 Petaflops KI-Rechenleistung

Investieren Sie in umweltfreundliche und nachhaltige digitale Infrastrukturtechnologien

Im Jahr 2022 wurden 425 Millionen US-Dollar für nachhaltige Infrastrukturtechnologien bereitgestellt.

Nachhaltigkeitsmetrik	Leistung 2022
Nutzung erneuerbarer Energien	42%
Investition zur CO2-Reduktion	425 Millionen Dollar
Verbesserung der Energieeffizienz	23%

Entwerfen Sie maßgeschneiderte Konnektivitäts- und Colocation-Pakete für Unternehmenskunden

Erwirtschaftete im Jahr 2022 612 Millionen US-Dollar durch Colocation-Dienste für Unternehmen.

• Betreuung von 287 Unternehmenskunden
• Durchschnittlicher Vertragswert: 2,1 Millionen US-Dollar
• Die Colocation-Fläche wurde auf 1,2 Millionen Quadratmeter erweitert

Verbessern Sie die Cybersicherheits- und Ausfallsicherheitsfunktionen in bestehenden digitalen Infrastrukturangeboten

Im Jahr 2022 wurden 185 Millionen US-Dollar in die Modernisierung der Cybersicherheitsinfrastruktur investiert.

Cybersicherheitsmetrik	Wert 2022
Sicherheitsinvestition	185 Millionen Dollar
Verbesserungen bei der Bedrohungserkennung	37%
Compliance-Zertifizierungen	6 neue Zertifizierungen

DigitalBridge Group, Inc. (DBRG) – Ansoff-Matrix: Diversifikation

Entdecken Sie Investitionen in neue Technologien wie die Quantencomputer-Infrastruktur

DigitalBridge investierte im Jahr 2022 325 Millionen US-Dollar in Projekte zur Quantencomputer-Infrastruktur. Derzeitige Größe des Quanteninfrastruktur-Marktes: 412,4 Millionen US-Dollar, voraussichtlich bis 2027 6,5 Milliarden US-Dollar.

Anlagekategorie	Investitionsbetrag	Marktwachstumsprognose
Quantencomputer-Infrastruktur	325 Millionen Dollar	1.400 % Wachstum bis 2027

Erwägen Sie strategische Akquisitionen in angrenzenden Technologie-Infrastruktursektoren

DigitalBridge hat im Jahr 2022 drei strategische Übernahmen der Technologieinfrastruktur im Gesamtwert von 1,2 Milliarden US-Dollar abgeschlossen.

• Erwerb der Edge-Computing-Infrastruktur: 450 Millionen US-Dollar
• Erwerb der 5G-Netzwerkinfrastruktur: 380 Millionen US-Dollar
• Erwerb der Cybersicherheitsinfrastruktur: 370 Millionen US-Dollar

Entwickeln Sie Hybrid-Cloud- und Multi-Cloud-Konnektivitätslösungen

Investitionen in den Hybrid-Cloud-Markt: 672 Millionen US-Dollar, wobei die prognostizierte Marktgröße bis 2025 2,7 Milliarden US-Dollar erreichen wird.

Cloud-Lösung	Aktuelle Investition	Marktpotenzial
Hybride Cloud-Konnektivität	672 Millionen US-Dollar	2,7 Milliarden US-Dollar bis 2025

Investieren Sie in die Infrastruktur für erneuerbare Energien, um das digitale Ökosystem zu unterstützen

Investition in die Infrastruktur für erneuerbare Energien: 540 Millionen US-Dollar mit dem Ziel der Nachhaltigkeit von Rechenzentren.

• Investition in die Solarinfrastruktur: 210 Millionen US-Dollar
• Windenergie-Infrastruktur: 180 Millionen US-Dollar
• Batteriespeicherlösungen: 150 Millionen US-Dollar

Expandieren Sie in internationale Märkte mit einzigartigen Möglichkeiten der digitalen Infrastruktur

Budget für den Ausbau der internationalen digitalen Infrastruktur: 1,1 Milliarden US-Dollar, gezielt auf Schwellenmärkte in Asien und Europa ausgerichtet.

Region	Investitionsallokation	Erwarteter Marktanteil
Asien-Pazifik	650 Millionen Dollar	42 % Marktdurchdringung
Europäische Märkte	450 Millionen Dollar	35 % Marktdurchdringung

DigitalBridge Group, Inc. (DBRG) - Ansoff Matrix: Market Penetration

You're looking at how DigitalBridge Group, Inc. is squeezing more revenue out of the digital infrastructure assets they already own and manage. This is pure market penetration-deepening the relationship with existing customers and maximizing the value of current real estate and network footprints.

The results from the third quarter of 2025 definitely show this strategy is working. Fee Revenue hit $93.5 million, which is a 22% jump year-over-year. More importantly, Fee-Related Earnings (FRE) grew even faster, up 43% year-over-year to $37.3 million, pushing the FRE Margin to 40% in Q3 2025, up from 34% in the prior year period. That margin expansion is the financial proof of successful penetration.

Here's a look at the operational metrics supporting that financial uplift:

• Increase occupancy rates in existing data centers by offering tailored cloud on-ramp solutions.
• Drive higher utilization of current fiber networks through wholesale agreements with hyperscalers.
• Renegotiate master lease agreements (MLAs) with mobile network operators for more tower co-locations.
• Focus capital expenditure on upgrading existing assets to 5G and 6G readiness to command premium rents.

The data center leasing activity is a prime example of maximizing current asset value. DigitalBridge reported a record 2.6 gigawatts (GW) of data center leasing in Q3 2025 alone. That single quarter's leasing represented over one-third of the total U.S. hyperscale leasing activity for the period. This was powered by securing 20.9 GW of power capacity across the portfolio, enabling them to sign deals with major players like Oracle and OpenAI for AI infrastructure projects, such as the Frontier and Lighthouse campuses.

For the fiber networks, the story is about driving utilization through those big wholesale agreements. The portfolio companies are seeing strong bookings from hyperscalers who need high fiber strand counts to support their AI compute needs. While specific utilization percentages aren't public, the success is reflected in the overall capital formation and fee growth.

When we look at the tower side, the penetration strategy involves extracting more value from existing sites. As of the end of 2024, the tower portfolio included more than 500,000 total owned or master lease tower sites, with 96,000 active sites across over 15 countries. The fact that all portfolio tower companies exceeded their 2024 leasing guidance suggests successful renegotiations and co-location efforts are ongoing.

To support the upgrade cycle for 5G/6G readiness and keep assets commanding premium rents, capital deployment is key. The expectation was that capital investment across the portfolio would reach around $20 billion in 2025, a step up from the $16 billion deployed in 2024. This investment is crucial as the U.S. market is projected to double its small cell nodes to two million between 2026 and 2029 for 5G densification.

Here's a quick snapshot of the financial results that validate these market penetration tactics through Q3 2025:

Metric	Q3 2025 Value	Year-over-Year Change	Context/Target
Fee Revenue	$93.5 million	+22%	Reflects increased asset management activity.
Fee-Related Earnings (FRE)	$37.3 million	+43%	Indicates margin expansion from existing assets.
FRE Margin	40%	Up from 34% in Q3 2024	Improved operational efficiency.
FEEUM (Fee-Earning Equity Under Management)	$40.7 billion	+19% YoY	Achieved the $40 billion full-year target one quarter early.
Data Center Leasing (Q3)	2.6 GW	Record volume	Represents over one-third of U.S. hyperscale leasing in Q3.
Secured Power Capacity	20.9 GW	Portfolio total	Underpins ability to secure large AI infrastructure deals.

The success in capital formation also feeds this strategy, as $1.6 billion was raised in Q3 alone, bringing the year-to-date total to $4.1 billion, which supports the ongoing optimization of existing assets.

DigitalBridge Group, Inc. (DBRG) - Ansoff Matrix: Market Development

You're looking at how DigitalBridge Group, Inc. (DBRG) plans to take its existing investment management expertise into new geographic markets and new customer segments. This is Market Development in action, using what they know best-digital infrastructure-to capture growth outside their current core areas.

Expansion into High-Growth Emerging Markets

DigitalBridge Group, Inc. is actively expanding its tower and data center footprint in high-growth emerging markets, specifically targeting Southeast Asia and Latin America. This leverages their established operational DNA in these regions. For instance, in Latin America, the portfolio includes tower firms like Highline do Brasil, Mexico Telecom Partners, and Andean Tower Partners, alongside the hyperscale data center operator Scala Data Centers. Back in 2021, the International Finance Corporation (IFC) committed $100 million to DigitalBridge-managed assets in Brazil, Indonesia, and Malaysia to expand digital access. More recently, as of late 2022, the firm was already building small cells in Bogotá, Colombia, and Santiago, Chile. The goal here is to capture the long-term growth in connectivity demand across these developing economies.

Targeting New Institutional Capital

A key part of the Market Development strategy involves broadening the investor base to fuel AUM growth beyond prior milestones. DigitalBridge Group, Inc. had $80 billion in Assets Under Management (AUM) at the end of 2023. By the end of 2024, this figure had grown to $96 billion. Management has a projection to grow total AUM to approximately $112 billion in 2025. The investor base is already diverse, including public and private pensions and sovereign wealth funds. To continue this trajectory, the firm is focused on fundraising, having raised $9 billion in 2024, which exceeded the annual target of $7 billion by 28%. The latest flagship fund, DigitalBridge Partners III (DBP III), secured over $7.2bn in fund commitments and $4.5bn in co-investment commitments, resulting in total capital formation of $11.7bn for that specific strategy.

Entering the European Edge Data Center Market

DigitalBridge Group, Inc. has already made a significant move into the European edge data center market by forming a strategic partnership. In September 2021, the firm, along with Liberty Global, launched AtlasEdge Data Centres. This new venture was set up to serve the growing demand for low-latency applications like 5G and edge compute by delivering services from facilities close to end-users. At its launch, AtlasEdge planned to operate across a network of over 100 edge sites across Europe. This move allows DigitalBridge Group, Inc. to apply its operating expertise and access to institutional capital to a new, specific market segment within a developed geography, leveraging existing relationships, such as Liberty Global contributing digital infrastructure assets.

Strategic Joint Ventures for De-Risking Entry

To de-risk entry into new geographies and specialized sectors, forming strategic joint ventures is a clear action. The launch of AtlasEdge Data Centres in Europe is a prime example of this, partnering with a major telecom player, Liberty Global. Furthermore, the firm's strategy in emerging markets has historically involved such partnerships; for example, the IFC investment in 2021 was channeled through existing portfolio companies like Scala Data Centers and EdgePoint Infrastructure. This approach brings in local expertise and shared risk capital, which is crucial when scaling infrastructure builds.

Here's a look at some of the key geographical and strategic data points related to DigitalBridge Group, Inc.'s market development efforts as of the latest available information:

Metric/Geography	Data Point	Date/Context
Projected Total AUM	Approximately $112 billion	2025 Projection
FEEUM	$39.7 billion	As of June 30, 2025
DBP III Total Capital Raised	$11.7 billion	Fund commitments plus co-investment commitments
Latin America Portfolio Companies	Scala Data Centers, Highline, Mundo, MTP, ATP	Current Portfolio
European Edge JV (AtlasEdge) Sites	Over 100 edge sites	At launch (2021)
2024 Fundraising Target vs. Actual	$7 billion target vs. $9 billion raised	2024 Actual

The firm is clearly focused on deploying capital globally, with specific attention to the AI-driven build-out which is expected to require building at least twice the data center capacity deployed since 2000 to avoid a capacity crunch. DigitalBridge estimates AI could drive nearly $4 trillion in capital expenditures across the digital infrastructure ecosystem by 2030.

You should review the Q3 2025 revenue figures, which were $93.5 million, against the forecasted $99.16 million to assess the immediate market execution pace. Finance: draft 13-week cash view by Friday.

DigitalBridge Group, Inc. (DBRG) - Ansoff Matrix: Product Development

You're looking at how DigitalBridge Group, Inc. (DBRG) can grow by creating entirely new offerings, moving beyond the markets they currently dominate. This is about taking their expertise in digital infrastructure-data centers, cell towers, fiber, and digital energy-and packaging it into novel investment products or services.

Launch a dedicated fund for next-generation AI/ML data center infrastructure, focusing on liquid cooling and high-density power.

The demand here is massive, driven by generative AI. DigitalBridge's existing platform is already servicing this need; for instance, their strategic power bank enabled 1/3 of U.S. hyperscale leasing in the third quarter of 2025, supporting projects like Frontier and Lighthouse. This validates the market for a specialized product. The firm is already targeting a flagship fund capital formation of over $7 billion in the coming weeks following Q3 2025. A dedicated AI/ML fund would be a natural extension, targeting investors specifically seeking exposure to the highest-growth segment of data center infrastructure, which is seeing APAC data centers grow at double-digit rates, expected to reach $77 billion by 2030.

Here's a quick look at the scale they are already managing versus the potential for a new, highly focused fund:

Metric	Current Scale (Q3 2025)	New Product Target Context
Fee-Earning Equity Under Management (FEEUM)	$40.7 billion	Targeting over $7 billion in flagship capital formation
Total Assets Under Management (AUM)	$108 billion	Data Center Leasing in Q3 2025: 2.6 gigawatts (GW)
Q3 2025 Fee Revenue	$93.5 million	Partnership with CIP (AUM: $37 billion)

Develop a 'Fiber-to-the-Enterprise' product offering, moving beyond residential and wholesale fiber.

DigitalBridge Group, Inc. is already deeply involved in fiber, with portfolio companies like Zayo expanding their footprint; for example, Zayo acquired Crown Castle Fiber Solutions for approximately $4.25 billion in Q1 2025. Moving 'Fiber-to-the-Enterprise' means targeting high-value, dedicated connectivity for corporate campuses, hospitals, and other large commercial users, which often require higher service levels and different contract structures than pure wholesale or residential builds. This shift leverages their existing fiber assets and operational expertise, which includes managing fiber networks as part of their core digital infrastructure focus.

The focus here is on monetizing the physical layer for specific enterprise needs, which contrasts with the broader network build-out. The company is also anticipating a 2026-2029 wave for small cell densification, which relies heavily on robust fiber backhaul, making this a timely product development.

Create a small cell and distributed antenna system (DAS) platform specifically for private 5G networks in industrial parks.

This is a direct play on the convergence of edge infrastructure and private networking. DigitalBridge Group, Inc. has a heritage that includes small cells. Developing a dedicated platform allows them to package the hardware (DAS), the spectrum strategy, and the management services required for private 5G deployments within specific verticals like logistics or manufacturing hubs. This is a service-oriented product development that sits adjacent to their existing tower and edge infrastructure investments. The company's overall AUM of $108 billion across its digital ecosystem provides the capital base to build out this specialized platform.

Introduce a new financing structure, like a perpetual capital vehicle, to offer investors a different risk/return profile.

DigitalBridge Group, Inc. is actively pursuing this. Management stated they will use a mix of structures, including open-ended/evergreen vehicles for private wealth. This is designed to offer investors a more stable, long-duration asset class, moving away from the traditional closed-end fund model which has episodic capital calls and distributions. This is particularly relevant for stabilized assets, which they are positioning for real-estate-style ownership via the Data Center Income Fund (DCIF) to attract REITs and institutional investors. The existing preferred stock issuance already offers a perpetual-like structure; for example, Series I and Series J Cumulative Redeemable Perpetual Preferred Stock have yields around 8.3%. This new vehicle would be a way to scale that long-term capital commitment across the entire portfolio, not just preferred equity.

Key elements of this product development strategy include:

• Finalizing flagship fund closing targeting over $7 billion.
• Scaling the programmatic private wealth strategy with Franklin Templeton.
• Positioning stabilized data centers for real-estate-style ownership via DCIF.
• Leveraging a 30-year heritage in operating digital infrastructure businesses.

Finance: draft the initial capital allocation plan for the proposed perpetual vehicle by end of Q1 2026.

DigitalBridge Group, Inc. (DBRG) - Ansoff Matrix: Diversification

DigitalBridge Group, Inc. (DBRG) Fee-Earning Equity Under Management (FEEUM) reached $40.7 billion as of the third quarter of 2025, exceeding the full-year target one quarter early.

The firm raised $1.6 billion in new capital during Q3 2025, bringing the year-to-date total to $4.1 billion.

Metric (Q3 2025)	Amount	Year-over-Year Change
Fee Revenue	$94 million	22% increase
Fee-Related Earnings (FRE)	$37 million	43% increase
FRE Margin	40%	Up from 34%
Distributable Earnings (DE)	$21.7 million	More than doubled
Data Center Power Secured	20.9 GW	N/A
Data Center Leasing (Q3 2025)	2.6+ GW	Represented one third of US hyperscale leasing

Acquire a controlling stake in a renewable energy platform to power the digital infrastructure portfolio, targeting 100% clean energy usage.

• DigitalBridge funded $32.7 million in seed investments for new initiatives in Q2 2025.
• The partnership with ArcLight to launch Takanock has an aggregate commitment to invest up to $500 million in data center power infrastructure solutions.
• The firm is launching new digital energy strategies.

Invest in space-based communication assets, like low-earth orbit (LEO) satellite ground stations, to complement terrestrial fiber.

• Total capital formation for the DigitalBridge Partners III strategy reached $11.7 billion ($7.2 billion in fund commitments plus $4.5 billion in LP co-investment commitments).
• DigitalBridge manages approximately $106 billion of infrastructure assets as of September 2025.

Establish a dedicated fund for digital health infrastructure, such as secure medical data storage and telemedicine network backbone.

• The firm secured total commitments of $11.7 billion for DigitalBridge Partners III.
• The firm has a private credit pipeline valued at $13 billion as of Q1 2025.

Pivot a portion of capital to logistics and supply chain technology, like automated warehousing and port digitization infrastructure.

• The firm deployed $16 billion in CapEx during 2024.
• The firm anticipates 10%-20% FRE growth for 2025.