Billionaire’s 26North venture to deal in private equity, credit and insurance
Josh Harris, the billionaire private equity executive who left Apollo Global Management last year after a messy succession battle, is returning to the investment industry with a firm that aims to be a contender in financial markets including private equity, credit and insurance.
The venture, named 26North, is launching with $5bn in assets under management and a team of 40 executives, according to a statement on Friday.
Among the newly announced recruits is Mark Weinberg, a veteran of Brookfield Asset Management and Lehman Brothers, who will take the reins at the firm’s private equity division.
Since then, what began as a scrappy investment partnership focused on companies in distress has evolved into an institutional manager with $515bn of assets, including a huge portfolio of corporate debt.
Read more: FT
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