Washington Commanders owner Josh Harris has a deal for a new stadium. It has $1 billion in public funding as well as tax breaks for the stadium operation.
That made me wonder about Harris' private equity operation and whether it had insurance affiliates that could fund its "sister" private equity affiliates, like Mark Walter. The answer is yes.
Josh's team at 26 North comes from Brookfield, Oaktree, Centerbridge, Moelis, Goldman Sachs, Credit Suisse, Apollo and Blue Owl.
One executive's name was familiar.
It brought back memories of Summer 2011 when private equity founders were struggling to reach their second or third billion in net worth ($).
Josh Harris was busy avoiding meeting with Jeffrey Epstein according to a January 2026 statement.
Thank heaven. It would be hard to funnel $1 billion in public money to a new stadium for Harris' football team if it had been otherwise.
Politicians Red & Blue love PEU (private equity underwriters) and their new TechGod brethren. Increasingly, more are one and many are in the Epstein files.
Update 10-15-26: 777 Partners already behaved badly with its insurance subsidiary. The stories are out there and new ones arrive every day.
Update 10-16-26: Oaktree's planned buyout of Atlantic Coast Life imploded according to a Bloomberg report. The State of Virginia told Atlantic Coast Life to stop writing policies. South Carolina warned retirees their savings are at risk Forbes reported:
Regulators allege that the private equity firm owning Atlantic Coast Life moved retirees' annuity money into illiquid private credit, including loans tied to collapsed investor 777 Partners.
Roughly 50,000 annuity customers and more than 100,000 life and funeral-policy holders could be affected.
Combined, that is 150,000 customers. It's more than Synapse, which had 100,000 customers when it imploded. Note: Billionaires do not stand behind their failed investments, instead walking away and leaving public entities to make up for their damages.
