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.
Fried Frank traces its history to the turn of the twentieth
century when a group of German-Jewish lawyers began practicing in
New York City in the 1890s. In 1929 Walter J. Fried (pronounced
"Freed") joined the firm as an associate who focused on real estate
law. Fried practiced with the firm until his retirement in 1979. In
the 1950s Fried was a pioneer in the movement to convert rental
apartment buildings into co-ops owned by the residents. In 1943
Hans J. Frank joined the firm as an expert in international
taxation. Frank had left Germany when Hitler's laws forbidding Jews
to practice law had been enacted.
Growing from its roots in New York City's German-Jewish business
community, the firm established 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. Kennedy (who was his
brother in law).
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.
Fried Frank acted as counsel to Related Companies in connection
with numerous aspects of the development at Hudson Yards in
Manhattan, including land use and zoning issues, ground leasing
from the Metropolitan Transit Authority for the pavilion, retail
podium, residential tower, and office and retail tower (the future
site of the headquarters of Time Warner) and tax structuring for
development. The Hudson Yards development project is the largest
private real estate development in U.S. history.
The Best or Nothing
Fried Frank obtained a significant IP litigation victory for
Daimler AG and Mercedes-Benz USA LLC when the United States Court
of Appeals for the Federal Circuit affirmed the district court's
grant of summary judgment of patent invalidity in favor of its
clients in December 2015.
Right on Target
Fried Frank acted as counsel to CVS Health Corporation in its
approximately US$1.9 billion acquisition of Target Corporation's
pharmacy and clinic businesses. All new Target stores that offer
pharmacy services will include a CVS/pharmacy. In addition, 79
Target clinic locations will be rebranded as MinuteClinic, and CVS
Health will open up to 20 new clinics in Target stores within three
years of the close of the transaction.
Funding a Towering Deal
Fried Frank acted as counsel to SL Green Realty in the financing
of its acquisition of Eleven Madison Avenue from The Sapir
Organization and minority partner CIM Group for US$2.285 billion.
The deal is the largest single-building transaction in New York
City history. Eleven Madison Avenue, a 2.3 million-square-foot
building, has tenants such as Sony, Yelp, William Morris Endeavor,
and anchor tenant Credit Suisse.
Humana After All
Fried Frank advised Humana Inc. in a complex US$37 billion
merger with Aetna. Humana Inc. is a leading health and well-being
company focused on making it easy for people to achieve their best
health with clinical excellence through coordinated care. The
merger brought together Humana's growing Medicare Advantage
business with Aetna's diversified portfolio and commercial
capabilities to create the second-largest managed care company in
the United States.
A Major Deal in the Information Age
Fried Frank acted as counsel to Permira Funds and the Canada
Pension Plan Investment Board in connection with their US$5.3
billion acquisition of Informatica Corporation, the world's number
one independent provider of enterprise data integration software
and services. This was the largest leveraged buyout announced in
the first half of 2015. Permira, an international private equity
firm, advises funds with a total committed capital of approximately