Josh Harris Firm Leads $1 Billion Raise for Bruin Capital

3 days ago 9

Josh Harris’ 26North and TJC, a backstage equity firm, person provided a $1 cardinal concern to backmost a caller level successful Bruin Capital, the sports-focused concern steadfast from George Pyne.

26North and TJC led the superior rise for Bruin, which does not person a dedicated fund. Instead, Bruin operates arsenic a holding institution that raises superior for each of its platforms. The steadfast has collected implicit $2 billion, a spokesperson said. In 2019, Bruin raised $600 cardinal from PE firms CVC Capital Partners and TJC, antecedently known arsenic The Jordan Company.

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Bruin said it plans to usage the $1 cardinal to put successful mediate marketplace sports businesses globally.

Pyne, a erstwhile NASCAR COO and ex-president of IMG, founded Bruin Capital successful 2015, 1 of the archetypal PE firms to absorption solely connected sports. The New York steadfast has taken stakes successful much than 50 companies. In 2024, Bruin launched sports bureau AS1, invested successful stadium writer exertion developer PlayGreen, and backed Box to Box Films, the accumulation institution that produces the Formula 1: Drive to Survive Netflix series.

Harris is simply a well-known PE enforcement who co-founded Apollo Global Management arsenic good arsenic Harris Blitzer Sports & Entertainment, which owns stakes successful the Philadelphia 76ers and the New Jersey Devils. In 2023, Harris led an capitalist radical to bargain the Washington Commanders for $6 billion.

The concern successful Bruin comes arsenic 26North, an alternate concern firm, has been fundraising for its debut PE pool. 26North targeted $4 cardinal for its archetypal fund, arsenic reported by Buyouts successful June, and appears to person surpassed those expectations, collecting $4.3 billion, according to a Jan. 5 SEC filing.

26North declined to comment.

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