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PITTSBURGH, Pa.—Production and media services provider NEP Group has announced a major new equity investment of $700 million and the successful completion of a debt refinancing.

The new equity investment in the company was led by 26North Partners LP (26North), together with a group of co-investors.

Carlyle, NEP’s existing sponsor, participated alongside 26North in the investment and will remain its largest shareholder, reaffirming Carlyle’s long-term commitment to the company, NEP reported.

NEP also announced that it has successfully completed a comprehensive debt refinancing. Supported by the Company’s strong performance and global client relationships, the refinancing enhances NEP’s capital structure and reduces its debt levels, reinforcing NEP’s strong foundation for future growth, the company said

26North was founded in 2022 by Josh Harris, who is also the founder and managing general partner of Harris Blitzer Sports & Entertainment and the managing partner of the Washington Commanders. This portfolio of franchises across sports and entertainment gives it a unique perspective on the media market and aligns closely with NEP’s work on media and live events, the investment firm reported.

Since launching in late 2022, 26North has grown to approximately $31 billion in assets under management.

Martin Stewart, CEO of NEP Group, said the completion of this transaction underscores investors’ confidence in the company’s future.

“We’re thrilled to take NEP to the next level with outstanding capital partners at our side,” Stewart said. “Josh brings exceptional expertise in creating one of the world’s leading sports and entertainment portfolios, and he and the 26North team have a proven track record of growing businesses across industries. We also couldn’t be more pleased to have earned the continued trust and support of Carlyle.”

During its long history, NEP has worked on many of the world’s most important live productions, including the Super Bowl, the Olympics, the World Cup, the World Series, The Masters Tournament, the PGA Championship, Premier League football, Wimbledon, the Eurovision Song Contest, the Oscars, The Voice, and numerous concert tours, conferences and global events like the recent NATO Summit.

“We’re excited to work with Martin, his leadership team, and Carlyle to build on the strong foundation they’ve created,” added Mark Weinberg, head of private equity at 26North. “NEP represents the kind of business we seek to invest in: a global market leader with a stellar reputation for service delivery, technical expertise and innovation that keeps customers coming back for compelling storytelling around their most important events and experiences.”

NEP was advised by Goldman Sachs, Latham & Watkins LLP, and Debevoise & Plimpton LLP. 26North was advised by RBC Capital Markets, Greenhill, a Mizuho affiliate, and Kirkland & Ellis LLP. Barclays and Goldman Sachs served as lead advisors on the refinancing.

For more information visit www.nepgroup.com.