Sector developments and company hires

Apollo’s Harris launches alternatives shop
Apollo Global Management co-founder Josh Harris has launched 26North Partners, an alternative asset management firm that aims to generate compelling returns across asset classes and capital structures for its partners. The firm has more than US$5bn in assets under management and will initially focus on private equity, credit and insurance solutions.

Mark Weinberg, who previously led US private equity at Brookfield Asset Management, will join 26North next year to lead its private equity platform. Brendan McGovern, former head of Goldman Sachs Asset Management's private credit group, will lead 26North's direct lending platform.

The pair join more than 40 team members, including former Centerbridge and Goldman Sachs partner Lance West, former Apollo md Evan Zemsky, former Blackstone md Tina Raja and former Security Benefit Life executive Cole Charnas.

26North has also formed a joint venture with Braven Management, a firm led by William Abecassis, the former head of Blackrock's venture group Innovation Capital. The JV seeks to leverage Braven's expertise and access to transformational technology to enhance 26North's investment and operational strengths.

In other news…

Analytics provider acquired
Fitch is set to acquire the data and analytics provider dv01, which will operate as a subsidiary of Fitch Solutions. The acquisition is expected to close at the end of Q3 and is expected to enable the development of new products and expansion into new markets. dv01 has offered both loan-level data and fully integrated analytics through it cloud-based platform since it was founded in 2014, supporting clients in establishing integrity, improving efficiency, and distributing market research across an array of asset classes.

Direct lending service snapped up
KBRA Analytics has acquired Direct Lending Deals (DLD), a digital information service that provides investors and originators with the latest deal data, news and analysis in direct lending. Founded in 2019 by Kelly Thompson, Chicago-based DLD focuses on private equity-driven financing in the lower and middle markets, as well as private jumbo loans sized at US$1bn or more. DLD recently hired Rachel McGovern, editor and European bureau chief based in Dublin, Ireland, to launch coverage of the European direct lending market.

EMEA
Melissa Bockelmann has joined WhiteStar Asset Management as md, head of business development Europe, based in London. She was previously in the leveraged finance structuring team at M&G Investments and worked at Cairn Capital, 3i Group, Bank of America and AXA Investment Managers before that.

North America
Waterfall Asset Management has announced the promotion to partner of two New York-based mds - Lee Wong and Keerthi Raghavan. Wong joined the firm in 2007 and most recently served as head of loan strategies and as a member of the Waterfall investment committee. Raghavan, who joined Waterfall in 2014, served on the firm’s investment committee and after led its bond trading strategy, focusing on investments in ABS, CMBS, RMBS, CLOs and corporates.

TPR approval granted
Sutherland has been approved as a third-party review (TPR) firm by Fitch. The digital transformation company’s innovative mortgage services work with lenders to transform their mortgage operation by introducing more efficient and more intelligent mortgage processing across multiple areas, including underwriting and servicing. Fitch’s assessment offers Sutherland an ‘acceptable’ rating as a TPR firm, allowing investors greater trust in the RMBS ratings provided by Sutherland as a part of its array of mortgage services.