Apollo Co-Founder’s 26North Closes $5.9B Debut Fund, Exceeds $4B Target by 50%
Apollo co-founder Josh Harris’s 26North firm closed its debut private equity fund with $5.9 billion of investor commitments, exceeding its $4 billion target by nearly 50%. 26North, which manages over $35 billion in assets, has already deployed capital in seven deals across industrials, technology and consumer brands.
1. 26North Closes $5.9 Billion Debut Fund
26North, founded in 2022 by Apollo Global Management co-founder Josh Harris, secured $5.9 billion in commitments for its first US private equity fund, surpassing its $4 billion target by nearly 50%. This marks the largest debut PE vehicle in US history.
2. Fundraising Context and Industry Trends
The $5.9 billion raise stands in contrast to broader industry headwinds, as first-time funds gathered just $5.7 billion in 2025, down 35% year-over-year. Mid-market fundraising also plunged 43.3% to $94.8 billion, the lowest level since 2018.
3. Initial Investments and Strategies
26North’s new fund has executed seven investments using buyout, carve-out and structured equity strategies. Notable deals include stakes in Bruin Capital, AI-powered cloud communications provider Intermedia and consumer kitchen appliances unit Composition Brands.
4. LP Backers and Target Sectors
Harris seeded the fund with personal capital and attracted institutional LPs such as the Indiana Public Retirement System, Eagle Life Insurance Company and Rutgers University Endowment. The fund will focus on industrials, technology, media & telecommunications and services.