Incoming MLS commissioner Larry Berg will vacate his advisory role with Josh Harris’ private equity fund as part of his new job.

An MLS spokesman told Sportico Tuesday that Berg is going to give up his role as an advisor to 26North as he transitions to the league’s top executive. Berg, who is currently an LAFC co-owner, has already discussed selling his stake in the MLS club, a requirement to become commissioner.

Berg joined 26North in September 2023 as a partner in its private equity division. Though his official bio on the LAFC website and part of his LinkedIn page still listed him as a “senior partner” as of Tuesday afternoon, he left that role last October, transitioning to an advisor, the MLS rep said. Another part of his LinkedIn identifies him as a “senior advisor.” A rep for 26North didn’t respond to an email seeking comment.

Berg was asked Tuesday in his introductory press conference about how his private equity experience might inform his role.

“I do think there are a lot of characteristics of private equity that do apply [here],” Berg said. “It’s about a sense of urgency, rolling up the sleeves, being in the trenches, asking good questions, aligning people for a common goal. There’s a lot of parallels. And I have a lot of experience on many boards, which gives me a lot of experience with governance, and at the end of day this is a governance job.”

Berg’s decades of experience in institutional finance were part of his appeal to many MLS owners. He spent 30 years at Apollo Global Management, the private capital giant co-founded by Harris. Harris left Apollo in 2021; Berg left Apollo for 26North two years later.   

Both 26North and Apollo are part of the emerging wave of institutional funds that are turning their attention to sports. Apollo recently launched Apollo Sports Capital (ASC), a permanent capital unit, and said it plans to deploy $6 billion as part of a new sports strategy. 26North, which has credit, insurance and private equity divisions, recently co-led a $1 billion round into Bruin Capital, which has a number of sports investments. Harris’ sports portfolio includes ownership of the NFL’s Washington Commanders and joint ownership of the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils.