26North (formally 26North Partners) is a New York alternative asset manager founded in September 2022 by Josh Harris, a co-founder of Apollo Global Management. It runs three linked strategies: private equity, private credit, and insurance. The firm held more than $35 billion in assets under management as of 2026.
Key takeaways
- 26North was launched in September 2022 by Josh Harris after he left Apollo Global Management, the firm he co-founded in 1990.
- It is built on three pillars: private equity, private credit (direct lending), and insurance, all designed to feed one another.
- The firm launched with more than $5 billion in assets and grew to more than $35 billion under management as of 2026.
- In April 2026 it closed its debut private equity fund at roughly $5.9 billion, well past a $4 billion target and reported as a US record for a first-time private equity raise.
- Harris is also a prominent sports owner, leading the Washington Commanders and the ownership groups behind the Philadelphia 76ers and New Jersey Devils.
26North at a glance
| Fact | Detail |
|---|---|
| Founded | September 2022 |
| Founder | Josh Harris (co-founder of Apollo Global Management, 1990) |
| Headquarters | New York |
| Business lines | Private equity, private credit (direct lending), insurance |
| AUM | More than $35 billion (as of 2026) |
| Debut PE fund | Approximately $5.9 billion, closed April 2026 (target was $4 billion) |
| Notable leaders | Mark Weinberg (private equity, ex-Brookfield); Brendan McGovern (direct lending, ex-Goldman Sachs Asset Management) |
Who is behind 26North
Josh Harris co-founded Apollo Global Management in 1990 alongside Leon Black and Marc Rowan, helping build it into one of the largest alternative asset managers in the world. He stepped away from Apollo and launched 26North in September 2022, positioning it as a next-generation alternatives platform.
Outside of investing, Harris is one of the most active owners in professional sports. He leads the ownership group that acquired the Washington Commanders in July 2023 for a reported $6.05 billion, and he co-founded Harris Blitzer Sports & Entertainment, which controls the Philadelphia 76ers and the New Jersey Devils. Do not confuse this Josh Harris with others of the same name; the 26North founder is the former Apollo co-founder and sports owner.
To staff the platform, Harris recruited senior operators including Mark Weinberg, formerly head of US private equity at Brookfield Asset Management, to lead buyouts, and Brendan McGovern, former head of Goldman Sachs Asset Management's private credit group, to run direct lending.
The three pillars, and why insurance matters to the model
26North is deliberately structured around three connected strategies rather than a single fund line.
- Private equity. The buyout arm targets middle-market and upper-middle-market companies. Its debut private equity fund closed at roughly $5.9 billion in April 2026, blowing past a $4 billion target and drawing commitments from pension plans, sovereign wealth funds, endowments, foundations, and insurers. If you are weighing this against firms in the same space, see our profiles of THL Partners and Apex Service Partners.
- Private credit. The direct lending platform provides flexible debt capital to companies, competing in the fast-growing private credit market that many former bank borrowers now tap.
- Insurance. This is the piece that ties the model together. The firm launched with roughly $4 billion in insurance-linked assets on top of its investment funds, giving it a base of long-dated, permanent-style capital.
Insurance matters because insurers collect premiums today and pay claims over many years, which creates a large, stable pool of money that needs to be invested. By owning or partnering with insurance balance sheets, 26North gains capital that does not have to be raised fund by fund, and it can deploy that capital into its own private credit and private equity strategies. This is the same flywheel that made Apollo, Harris's former firm, so large: insurance liabilities feed proprietary origination, and origination generates returns for the insurance assets. It is a structural advantage more than a single deal, which is why 26North frames itself as a diversified alternatives platform rather than a traditional buyout shop.
For readers newer to how these firms are organized internally, our explainer on principal versus partner roles in private equity covers the career and ownership structure behind platforms like this. You can also browse more firm breakdowns on our private equity hub.
The bottom line
In a few short years, 26North has grown from a more than $5 billion launch into a more than $35 billion platform spanning private equity, private credit, and insurance. Backed by Josh Harris's Apollo pedigree and a senior team pulled from Brookfield and Goldman Sachs, it is one of the more closely watched new entrants in alternative assets. The insurance-anchored model is the key to understanding both its size and its ambitions.
Frequently asked questions
Who founded 26North?
26North was founded in September 2022 by Josh Harris, a co-founder of Apollo Global Management, which he helped build starting in 1990 alongside Leon Black and Marc Rowan. He stepped away from Apollo to launch 26North as a next-generation alternatives platform. Harris is also a prominent sports owner, leading the Washington Commanders and the groups behind the Philadelphia 76ers and New Jersey Devils.
What are 26North's three business lines?
26North is built on three connected pillars: private equity buyouts targeting middle-market and upper-middle-market companies, private credit through direct lending, and insurance. The strategies are designed to feed one another rather than operate as separate fund lines. The firm held more than $35 billion in assets under management as of 2026, up from a launch of more than $5 billion.
Why does insurance matter to the 26North model?
Insurance matters because insurers collect premiums today and pay claims over many years, creating a large, stable pool of long-dated, permanent-style capital. By owning or partnering with insurance balance sheets, 26North gains capital that does not have to be raised fund by fund and can deploy it into its own credit and equity strategies. This is the same flywheel that made Apollo so large.
How big was 26North's debut private equity fund?
26North closed its debut private equity fund at roughly $5.9 billion in April 2026, well past its $4 billion target. It was reported as a US record for a first-time private equity raise, drawing commitments from pension plans, sovereign wealth funds, endowments, foundations, and insurers. The buyout arm is led by Mark Weinberg, formerly head of US private equity at Brookfield.