Josh Harris' 26North Partners targeting $4b for inaugural PE fund

26North Partners, founded by Apollo Global Management Inc. co-founder Josh Harris, is targeting a capital raise of $3bn to $4bn for its inaugural private equity fund. The New York-based firm, with $12.7bn in assets under management, plans to allocate the funds to up to 20 investments across diverse sectors such as industrials, financials, technology, media, and telecommunications.

Despite a challenging fundraising landscape for alternative asset managers, 26North has expanded its team, recruiting three former managing directors from Goldman Sachs to bolster its direct-lending business.

Harris, with a net worth of $8.8bn, co-founded 26North last year to focus on private equity, credit, and insurance investments, following a successful career at Apollo.

In a notable move, Harris led a consortium that acquired the National Football League's Washington Commanders for approximately $6bn earlier this year.