With approximately 450 attorneys, Fried Frank is hardly a
behemoth, but the firm remains an international legal power that
excels in corporate, litigation, real estate and tax work.
An Impressive Crew
Fried Frank traces its history to the turn of the twentieth
century. Growing from its roots in New York City's German-Jewish
business community, the firm went on to establish itself in the
nation's capital, opening a DC office in 1949. By 1971, name
partners Walter Fried, Hans J. Frank, Sam Harris, Sargent Shriver
and Leslie Jacobson were all on the masthead. The partners had
uniformly impressive resumes-with expertise ranging from tax to
real estate to securities- and brought a dedication to civic
causes. Sargent Shriver, for instance, is known for serving as the
first director of the Peace Corps under President John F.
Fried Frank is the go-to firm for a wide variety of clients and
their most complex and challenging matters. With a geographic focus
on the U.S. and Europe, Fried Frank has premier practices in the
areas of private equity, asset management, real estate, leveraged
finance and capital markets. The addition of lateral partners in
these key areas remains an ongoing strategic priority. Litigation
is an important growth opportunity for the firm, with James
("Jamie") Wareham having joined in 2015 as head of the department.
There has also been an aggressive effort to add talent in key
practice areas to the London office under the leadership of Graham
White, who joined in 2014 as head of the firm's Private Equity
Practice in Europe and managing partner of the London office.
The (in)Famous Boesky Case
Unlike many of its rivals in the post-WWII era, Fried Frank grew
without the support of a few major legacy clients. Instead, the
firm worked on a case-by-case basis, representing the likes of
Getty Oil, General Electric, Morgan Stanley and Goldman Sachs. In
the 1980s, the firm earned household-name status with its
representation of Ivan Boesky-former Fried Frank partner Harvey
Pitt, who was later appointed Chairman of the SEC, was by Boesky's
side as he pleaded guilty to the SEC's insider trading charges.
IN THE NEWS
Fried Frank represents Joe Gregory, the long-serving former
President of Lehman Brothers, in all of the civil
litigation-including some ongoing matters-arising out of the
collapse of Lehman Brothers, including consolidated class actions
and MDL litigation. Fried Frank also represents Mr. Gregory in the
SEC, U.S. Attorney's Office and Attorney General investigations
stemming from the collapse.
IPO Served With Sizzle
Fried Frank acted as counsel to J.P. Morgan Securities and Morgan
Stanley & Co., as representatives of the several underwriters
in Shake Shack Inc.'s US$120 million initial public offering of
common stock. The burger chain, which opened in 2004, has locations
throughout the U.S. and international licensed Shacks in such
locations as London, Istanbul and Dubai. The shares are listed on
the New York Stock Exchange under the ticker symbol "SHAK."
Lap of Luxury
Fried Frank served as co-counsel to Anbang Insurance Group Co. Ltd.
in its agreement to purchase the Waldorf Astoria New York from
Hilton Worldwide Holdings Inc. for US$1.95 billion. It is the
largest deal ever by a Chinese investor for an American building,
according to The New York Times.
Fried Frank is counsel to Brookfield Property Partners, along with
its institutional partners, in its US$4.283 billion acquisition of
Capital Automotive L.P., a portfolio company of DRA Advisors
Fried Frank acted as counsel to KKR in its US$700 million
refinancing of the entire capital structure of Preferred Sands, a
leading supplier of frac sand in the United States and Canada.
All that Glitters is Goldman
Fried Frank acted as counsel to Goldman Sachs in the formation of
Broad Street Real Estate Credit Partners II, LP and affiliated
entities. The fund held its final closing in April 2014 with total
commitments of approximately US$1.8 billion.