WASHINGTON (dpa-AFX) - 26North Partners LP, a multi-asset-class investment platform, on Friday announced an equity investment of $700 million in NEP Group, a media services and technology solutions company of Carlyle Group Inc. (CG).
Carlyle, NEP's existing sponsor, is participating alongside 26North in this investment and will remain NEP's largest shareholder.
The new investment from 26North will support continued expansion of NEP to meet rising demand for premium live sporting events and spectator experiences. In addition, NEP stands to benefit from the extensive sports and live entertainment ecosystem of 26North founder Josh Harris.
NEP powers major productions, including the Super Bowl, World Cup, Olympics, and major entertainment events like the Oscars. NEP partners with broadcasters and producers to bring their content to life.
With this investment, NEP will join a family of companies within 26North's private equity portfolio, including ArchKey Solutions, AVI-SPL, and Onelife Fitness.
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