# 26NORTH Direct Lending

> 26NORTH Direct Lending is an SEC-registered investment advisory firm in New York, NY, registered since 2022, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 323152
- Filed as: 26NORTH DIRECT LENDING
- Legal name: 26NORTH Direct Lending LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/323152
- AdvisorCensus page: https://advisorcensus.com/firm/26north-direct-lending-new-york-ny-323152

## Quick answers

**How is 26NORTH Direct Lending compensated?**
On its Form ADV (Item 5.E, October 2026), 26NORTH Direct Lending reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is 26NORTH Direct Lending located?**
26NORTH Direct Lending's principal office is in New York, NY, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is 26NORTH Direct Lending registered with the SEC or a state?**
26NORTH Direct Lending is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 323152.

**How much does 26NORTH Direct Lending manage?**
26NORTH Direct Lending reports $2,649,967,439 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have 26NORTH Direct Lending's assets and staff changed since 2023?**
In the Form ADV data for 26NORTH Direct Lending: Regulatory assets under management: $1,703,018,206 in the October 2024 data and $2,649,967,439 in the October 2026 data, up 56%. Total employees: 52 in October 2023 and 142 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does 26NORTH Direct Lending serve?**
By number of clients on Form ADV Item 5.D: business development companies (1).

**Does 26NORTH Direct Lending report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/323152

**What changed in 26NORTH Direct Lending's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $2,340,944,760 to $2,649,967,439 (+13%). Employees performing advisory functions went from 59 to 83. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $2,649,967,439
- Discretionary: $2,649,967,439
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Business development companies | 1 | $2,649,967,439 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)

### Firm details
- Registered since: 2022 (3 years)
- Employees: 142 total, 83 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL, NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Miami, FL

### Websites listed on Form ADV (Item 1.I)
- 26n.com
- LinkedIn @26-north

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2023 | Not reported | 52 | July 17, 2023 |
| October 2024 | $1,703,018,206 | 81 | August 26, 2024 |
| October 2025 | $2,340,944,760 | 101 | June 10, 2025 |
| October 2026 | $2,649,967,439 | 142 | March 31, 2026 |

Regulatory assets under management: $1,703,018,206 in the October 2024 data and $2,649,967,439 in the October 2026 data, up 56%.
Total employees: 52 in October 2023 and 142 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $2,340,944,760 to $2,649,967,439 (+13%).
- Employees performing advisory functions went from 59 to 83.
- Updated its list of owners and control persons (Schedule A).

### February 2026
- Updated its list of owners and control persons (Schedule A).

### November 2025
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. 26NORTH Direct Lending (CRD 323152): Form ADV filing data as of October 2026.