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In a blockbuster private equity play, 26North Partners LP announced Friday that it will lead a $700 million equity investment in NEP Group, the global giant behind some of the world’s most-watched live broadcasts — from the Super Bowl and the Olympics to the Oscars.

The deal, guided by Kirkland & Ellis LLP for 26North and Latham & Watkins LLP and Debevoise & Plimpton LLP for NEP, signals a powerful infusion of capital aimed at accelerating NEP’s reach and innovation across sports, entertainment, and media production.

Carlyle Stays in the Game

Existing backer Carlyle Group isn’t bowing out — the firm will retain its position as NEP’s largest shareholder, continuing its long-term partnership with the media technology powerhouse.

Founded by Josh Harris, the New York-based alternatives investment firm 26North Partners has built an empire spanning sports, entertainment, and finance. Harris, who also owns stakes in the Washington Commanders and Harris Blitzer Sports & Entertainment, brings a playbook of high-stakes strategy to the NEP investment.

Driving the Future of Live Entertainment

Pittsburgh-based NEP Group is the invisible force behind much of the world’s televised spectacle. Its clients — from global broadcasters to rightsholders and production companies — rely on its mobile production units, studios, lighting systems, audiovisual technology, and cloud-based software platforms to deliver immersive viewing experiences.

“NEP embodies the type of global market leader we invest in — one that thrives on innovation and earns loyalty through unmatched service and technical mastery,” said Mark Weinberg, head of private equity at 26North.

NEP’s CEO Martin Stewart echoed the sentiment, calling the partnership “a defining moment” for the company’s next chapter.

“Josh Harris and the 26North team bring unmatched expertise in scaling world-class sports and entertainment portfolios,” Stewart said. “We’re also proud to maintain the continued confidence of Carlyle.”

Refinancing for Growth

Alongside the equity deal, NEP has also completed a comprehensive debt refinancing, strengthening its capital structure, cutting debt, and paving the way for future expansion. Barclays and Goldman Sachs served as financial advisers on the refinancing.

The Kirkland & Ellis team steering 26North’s side includes partners Ryan Brissette, Jimin He, and Pete Martelli.

With fresh funding and a retooled balance sheet, NEP is poised to elevate live event storytelling to new heights — a move that could redefine how billions of viewers experience the world’s most unforgettable moments.