26North

Private Debt Investor caught up with 26North's Brendan McGovern and Cole Charnas, spotlighting what sets 26North apart in private credit. PDI chronicles how 26North has carved out a distinctive place in the market, aligning interests by investing significant capital alongside its clients and prioritizing alpha generation. The magazine highlights that "26North can pick its spots in the true mid-market, where it has been deploying capital into the most senior part of the capital stack in first lien loans and achieving yields of SOFR plus 600 basis points, ahead of the S+450-500 that some bigger competitors with fewer lender protections and more leverage, are getting." We take pride in the intense focus on generating attractive returns relative to risk while providing private credit solutions to private equity-backed and non-sponsored companies. Read the full story on 26North in the latest issue of Private Debt Investor to learn more about our vision and strategy for the future. https://lnkd.in/eZZXyJwk

Sports teams and related businesses are emerging as scalable and institutional investment opportunities—much like the alternative asset class did three decades ago. In a recent discussion with Bloomberg’s Jason Kelly and George Pyne of Bruin Capital at iConnections, our Founder Josh Harris discussed how the same core principles drive successful investing in both traditional alternatives and sports. ? Define the Mission: Align your team around a vision that extends beyond yourself – whether delivering for communities, institutions, beneficiaries or other stakeholders. ? Be Patient, Wait for the Play: Great Industry, great organization, great opportunity. ? Leadership Matters: Create a culture of excellence and accountability. ? Talent Wins: Surround yourself with the best and brightest. Don’t be afraid to hire people more talented than yourself. ? Execute with rigor and discipline: stay resilient through challenges and uncertainty. At 26North, we don’t just invest – we commit to creating lasting impact. Across our platform, we focus on creating alpha by backing exceptional businesses, giving them the resources, leadership and expertise needed to thrive, and ensuring long-term value creation for all stakeholders.?

We are thrilled to announce a forward flow agreement to purchase up to $250 million in home improvement loans from Stream Innovations Inc., a leader in financial origination technology. 26North’s Investment Grade Alpha (IGA) team led this deal, underscoring our distinctive ability to deepen relationships using our broader ecosystem and strike high-quality partnerships focused on creating value. Congratulations to our IGA team members James Hwang, Harris Ziskroit, Xiangchen Meng, Aleksandr Marceau and Alfredo Cantoral! Read more here: https://lnkd.in/ehytXTfC

With the days of “easy money,” low interest rates and increasingly higher valuations behind us, alternatives asset managers are navigating an evolving landscape, as our Founder Josh Harris discussed on Bloomberg's Peer-to-Peer show with David Rubenstein. Josh and David explored the new market dynamics that present unique opportunities and challenges. ??? Changing Dynamics: Today’s exit environment is tougher, with fewer firms returning capital to investors. Competition is fierce, but there is an opportunity to stand out by navigating the market with agility. ?? True Alpha Creation: Success now goes beyond financial engineering. With rising capital costs, delivering operational expertise and managing companies thoughtfully and responsibly is essential. ?? Creating Unique Edges: We focus on bringing large-cap capabilities to the upper middle market. We’re not here to chase volume; we’re here to find value where others might overlook it. At 26North, we're taking a disciplined, back-to-basics approach—anchoring our strategy around attracting exceptional talent, creating a best-in-class investment culture and putting philosophical and economic alignment at the core of everything we do. Watch the full episode here: https://lnkd.in/ejgp5mi

Forbes profiled our founder Josh Harris, chronicling his mission to build winning cultures and drive excellence and impact across his asset management and sports endeavors. ????? ????? Since its launch in August 2022, 26North has grown to approximately $23B in AUM, with 125 employees, investing capital across private equity, credit and insurance. Josh discusses how we’re building a next-generation firm that generates alpha for the benefit of our stakeholders – including millions of pensioners and beneficiaries – to ultimately create maximum positive impact. Our approach hinges on dedicated professionals, deep diligence, a mission-driven culture and a relentless focus on achieving meaningful results for our partners and communities alike. Read more about Josh’s investment philosophy in the Forbes feature, including the latest developments on 26North, as well as the Washington Commanders and Harris Blitzer Sports & Entertainment. https://lnkd.in/ecCSHWsx

We are excited to share that 26North has acquired Onelife Fitness, a leading health club operator with a strong presence across the Mid-Atlantic and Southeastern U.S. This acquisition is core to our strategy of investing in resilient businesses and backing strong management teams to drive value in industries where we believe there is long-term growth. In addition to value creation, Onelife has built a reputation for delivering a premium health and wellness experience, and shares our commitment to fostering a culture of excellence and creating a positive impact in the communities we serve. Together, we are focused on driving growth by expanding Onelife’s footprint, and continually enhancing its service offerings—while continuing to have a positive value proposition for Onelife’s customers and employees. We look forward to working with Onelife’s leadership team — Ori Gorfine, and Kirk and John Galiani, driving the company to new heights. Congratulations to Mark Weinberg, Gary Freilich, Neel Joshi and the entire team. Welcome to the 26North family, Onelife Fitness! ?? Read more from Bloomberg here: https://lnkd.in/esr9aBuD

We are thrilled to announce that 26North has entered into a definitive agreement to acquire ArchKey Solutions, marking the first transaction for our private equity platform. This acquisition aligns perfectly with our vision of partnering with exceptional teams and our commitment to investing in high-quality businesses that are well-positioned for growth. ArchKey, a leading provider of electrical and technological systems, has an impressive history of delivering innovative solutions across the U.S., including iconic projects like the Sphere in Las Vegas and the Smithsonian National Museum of African American History and Culture. We look forward to partnering with CEO Steven Stone and his team to drive ArchKey’s next phase of growth, leveraging our resources and experience across the company’s key sectors. Congratulations to Mark Weinberg, Jon Garcia, Derek Whang and their teams on this accomplishment. Read here: https://lnkd.in/gpzanSHb

Since 26North launched our Direct Lending platform less than a year ago, the team has been working to evaluate hundreds of opportunities. We’re proud to have selectively deployed nearly $1 billion of capital across 16 deals. Every day, our teams come to work with the mission of delivering superior risk-adjusted returns for our investors. Being a trusted partner to leading companies and sponsors is a cornerstone of our strategy. Recently, we were awarded the Lead Agent role for the $440 million financing, supporting Thoma Bravo's portfolio company LogRhythm's merger with Exabeam. This transaction positions the combined company as a global leader in cybersecurity solutions. We are grateful for our relationship with Thoma Bravo and other leading sponsors, and we look forward to continuing to deliver value-added financing solutions through our Direct Lending platform.

A few snaps from our inaugural 26North Appreciation Day ?? Last week, we gathered to toast our team’s accomplishments and celebrate key milestones. Here’s a look at what we’ve achieved together in the past year: ?? Made significant progress in capital formation, growing from $11B as of June 2023, to over $22B today ?? Welcomed ~50 new employees, growing our team to over 120 people across New York, Miami and California ? Expanded our commitment to stewardship, helping millions of individuals and families protect their futures and retirements ?? Launched our Investment Grade Alpha strategy, and continued to grow our core businesses across Credit, Private Equity and Insurance ?? Found new ways to live up to our values together, deepening our commitment to building a firm that stands for excellence and having a maximum positive impact This journey would not be possible without the dedication and hard work of our incredible team. Congratulations to all on the impact achieved so far – we’re just getting started!?

“As we think about the overall macro backdrop, strong economic data and growth in the economy, our base case is that rates are generally going to be at this type of level over the near to intermediate term.” CIO of our Insurance Business Joe Cantwell spoke at 26N’s Macro Call, and discussed how given steady GDP growth, low unemployment levels and healthy capital markets, we expect the constructive macroeconomic environment to continue. Watch here: