BlackSun Private Equity Raises $1 Billion Toward $7 Billion Sports and Media Fund
The New York firm's debut Mega Fund I has secured $1 billion against a $7 billion target, with Gulf-focused placement agent Greenstone Equity Partners on board and a formal fundraising campaign still to come, Bloomberg reported.
NEW YORK, August 24, 2026. BlackSun Private Equity has raised $1 billion for Mega Fund I, its inaugural investment vehicle, against a stated target of $7 billion, Bloomberg reported last week. The fund is aimed at sports, media, entertainment and technology, with professional sports franchise ownership positioned as the anchor for broader investments across streaming, intellectual property, merchandise, real estate and adjacent commercial ventures.
The firm has appointed Greenstone Equity Partners, a placement agent specializing in capital from Saudi Arabia, Kuwait, Oman, Qatar and the United Arab Emirates, as its global placement agent. Nery Gomez, BlackSun's co-founder, president and chief operating officer, told Private Equity Wire the firm expects to bring additional financing partners into the process over the next several months before launching its formal fundraising campaign. Anchor investors behind the initial $1 billion have not been named.
BlackSun was founded in 2023 by Atonn F. Muhammad, a former Morgan Stanley financial adviser who serves as chairman and chief executive, and Gomez. Changa Ingram is chief investment officer. The firm's advisory group includes Jason Kidd, Lawrence Taylor and Roy Jones Jr. Mega Fund I was formally launched in October 2025 as a projected $7 billion vehicle.
The firm has been an active, if so far unsuccessful, bidder. It submitted a $6 billion offer for the Boston Celtics, which sold for $6.1 billion, and in April floated a proposal involving Hollywood guilds for an acquisition of Warner Bros. Discovery. On August 12, BlackSun, Native World Sports, Musa Holdings and regional partners submitted a formal proposal to the NBA for a Seattle expansion franchise to revive the SuperSonics, including a proposed arena and entertainment district.
"The SuperSonics belong in Seattle. Our ambition isn't simply to bring a team back," Muhammad said in the firm's announcement of that bid.
No press release accompanied the $1 billion raise; the figures were confirmed to Bloomberg and subsequently to Private Equity Wire by the firm.