Tom Barrack’s Longtime Associate Is Leaving DigitalBridge
Tom Barrack’s Longtime Associate Is Leaving DigitalBridge
(Bloomberg) -- Jonathan Grunzweig, a longtime associate of Tom Barrack, is set to leave DigitalBridge Group Inc., the firm Barrack founded, according to a person with knowledge of the matter.
Grunzweig was most recently chief investment officer of DigitalBridge’s “other equity and debt,” or non-digital, portfolio. His exit is expected to coincide with Fortress Investment Group LLC’s purchase of that portfolio, a deal announced last month and slated to close in the fourth quarter.
A DigitalBridge spokeswoman declined to comment. Grunzweig didn’t immediately respond to a request for comment.
Prior to his latest role, Grunzweig was global head of special situations at the firm, which was known as Colony Capital until about a month ago, overseeing development of strategy across asset classes and platforms. A former Skadden, Arps, Slate, Meagher & Flom LLP partner, he joined the Colony Capital business in 1999, and was global CIO of Colony Capital as of 2015, when it combined with Colony Financial.
Barrack this week was charged by federal prosecutors of working on behalf of the United Arab Emirates in a years-long effort to sway then-President Donald Trump’s foreign policy. Barrack is being freed on $250 billion bond secured by $5 million in cash, $21 million in units of DigitalBridge and homes owned by him, his ex-wife, his son and Grunzweig. A U.S. magistrate judge approved the terms of Barrack’s bail on Friday.
DigitalBridge, led by Chief Executive Officer Marc Ganzi, has divested assets ranging from warehouses to hotels in an effort to transform into an investment platform focused on communications-linked infrastructure such as towers and data centers.
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