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Boston OfficeOne International Place, 40th Floor, 100 Oliver Street, Boston, MA, United States of America 02110-2605
Thomas J. Friedmann, a member of the firm’s Policy Committee and Deputy Chair for Strategy, also serves as co-head of Dechert’s Permanent Capital Practice and its Capital Markets Practice. He represents domestic and non-U.S. issuers and investment banks in public and private securities transactions. Mr. Friedmann regularly advises alternative asset managers in their efforts to access permanent capital through Business Development Companies (BDCs), closed-end funds and other vehicles. Having represented both issuers and underwriters on the organization and listings of numerous BDCs, Mr. Friedmann assists companies in navigating securities laws and sensitive disclosure matters under the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Company Act of 1940. He is a frequent speaker and has been quoted in various media outlets regarding developments and trends affecting BDCs and other alternative investment vehicles, an area in which Dechert has been identified as a leader by The Legal 500, a leading legal directory.
In addition, Mr. Friedmann advises corporate clients on matters relating to securities law, corporate governance and board issues, and other general corporate matters such as compliance and disclosure matters, periodic reporting, financial restructuring and securitization transactions. Mr. Friedmann also counsels public and privately held companies in the energy, hospitality and technology industries on a broad range of capital markets and financing transactions, including high-yield and investment-grade debt offerings, convertible and equity-linked securities and private financings.
Mr. Friedmann is consistently recognized for his work in capital markets: debt and equity offerings and has been recommended for his work in investment fund formation and management: alternative/hedge funds by The Legal 500 US. He is also listed in The Best Lawyers in America for Securities/Capital Markets Law.
- AGL Credit Management LLC, an investment manager specializing in corporate credit strategies, on the organization of AGL Private Credit, a new private credit investment platform, negotiation of an exclusive cooperation agreement with Barclays Plc, a global investment bank, and two warehouse facilities for AGL Private Credit.
- Blackstone Private Credit Fund (“BCRED”), a BDC advised by Blackstone Credit and Insurance, in connection with multiple private placements of notes by BCRED totaling more than US$4.5 billion.
- GQG Partners (ASX:GQG), a boutique investment management firm, in connection with its initial public offering and listing on the Australian Securities Exchange Ltd (ASX).
- Franklin BSP Lending Corporation (“FBLC”) and Franklin BSP Capital Corporation (“FBCC”), each a BDC advised by an affiliate of Benefit Street Partners L.L.C., in connection with the merger of FBLC and FBCC.
- Golub Capital BDC, Inc. (“GBDC”) in connection with its merger with Golub Capital BDC 3, Inc., each BDCs advised by Golub Capital, with GBDC as the surviving company.
- Horizon Technology Finance Corporation (NASDAQ: HRZN), a BDC advised by Horizon Technology Finance Management LLC (“HTFM”), in connection with multiple debt and equity offerings as well as the acquisition of HTFM by Monroe Capital LLC.
- HPS, a leading global investment firm, on two private placements of notes by HPS Corporate Lending Fund, a BDC.
- Lafayette Square, a national investment platform, in connection with the launch of its BDC and general corporate matters and transactions.
- Representation of Morgan Stanley’s BDC platform, including a merger of North Haven Private Income Fund LLC (PIF) and SL Investment Corp. (SLIC), each a BDC externally managed by MS Capital Partners Adviser Inc. (“MS Adviser); Morgan Stanley Direct Lending Fund (NYSE: MSDL), a BDC externally managed by MS Adviser, in connection with its IPO of common stock and private placement of US$275 million of unsecured senior notes; as well as the organization and private placements of five BDCs externally managed by MS Adviser.
- The initial purchasers, including SMBC Nikko Securities America, Inc., BNP Paribas Securities Corp., ING Financial Markets LLC and Wells Fargo Securities, LLC, in connection with the issuance, offer and sale of US$350 million of notes by Oaktree Strategic Credit Fund.
- Capital Markets: Debt — The Legal 500 US
- Capital Markets: Equity Offerings — The Legal 500 US
- Capital Markets: Global Offerings — The Legal 500 US
- Oversight Considerations for Alternative Investments - BDCs, Interval Funds, and More, IDC Fund Directors Conference – Chicago, IL (October 22, 2024)
- Market Movers: Private Credit in the Global Economy, 2024 Private Credit Summit, Dechert LLP – New York, NY (June 11, 2024)
- Unlocking Capital: Strategies for Capital Raising in Private Credit, 2023 Permanent & Private Capital Summit, Dechert LLP – New York, NY (June 13, 2023)
- Trends in Capital Raising and Private Credit Investments, 2022 Permanent & Private Capital Summit, Dechert LLP – New York, NY (May 24 – 25, 2022)
- Pulse of the Market: An Overview of Today’s Permanent & Private Capital Industry, 2021 Permanent & Private Capital Summit — Virtual Conference (June 2-3, 2021)
- SPACs – What Fund Managers Need to Know — Dechert LLP, Webinar (March 30, 2021)
- Permanent and Private Capital in the Time of COVID-19: Where We've Been and Where We're Going, Dechert LLP — Virtual Conference (August 20, 2020)
- Private Credit Forum: BDC and Private Credit Mid-Year Update, Presented by Deloitte, Lincoln International and Dechert LLP — San Francisco, CA (May 9, 2019)
- Consolidation: Does it Work and Will it Continue?, 5th Annual Permanent & Private Capital Summit — New York, NY (April 4, 2019)
- Private Credit, BDCs & Everything in Between: Private BDCs, Dechert LLP — Webinar (January 16, 2019)
- Raising Credit and Distressed Debt Funds, Dechert Distressed Investing Forum — New York, NY (October 18, 2018)
- Threats to Existing BDC Managers and Other Drivers of Opportunity in the U.S. Market, PDI's New York Forum — New York, NY (September 25-26, 2018)
- Investment Fund Valuation: Issues, Trends, and Best Practices, Stout — New York, NY (September 18, 2018)
- The Alternative Structures and Terms of Permanent Capital Investment Products, 19th Annual International Conference on Private Investment Funds — London, UK (March 12, 2018)
- 2nd Annual LPGP Private Debt Chicago — Chicago, IL (September 19, 2017)
- 3rd Annual LPGP Connect Private Debt New York — New York, NY (May 16, 2017)
- Evolution of Private Lending and Evaluate Fund Offerings in Europe and Beyond, PEI's Capital Structure Forum 2016 — London, UK (October 18-19, 2016)
- Private Debt Market Outlook, LPGP Connect Private Debt — Chicago, IL (September 20, 2016)
- Trends in Business Development Companies, RSM US LLP, NASDAQ and the Small Business Investor Alliance — New York, NY (June 20, 2016)
- 2015 Wells Fargo Securities Middle Market Leadership Forum — New York, NY (November 17, 2015)
- Trends in Business Development Companies, McGladrey, NASDAQ and the Small Business Investor Alliance (SBIA) — New York, NY (June 9, 2015)
- Trends in Business Development Companies, McGladrey, NASDAQ and the Small Business Investor Alliance (SBIA) — New York, NY (June 10, 2014)
- Trends in Business Development Companies (BDCs), McGladrey and NASDAQ — New York, NY (June 11, 2013)
- Listed vs. Non-Listed BDCs: Hot Topics and Trends in Business Development Companies, NASDAQ, McGladrey and the Small Business Investment Alliance — New York, NY (January 25, 2012)
- From Wall Street to Washington: What is Happening?!, The Corporate Law Association — Washington, D.C. (October 22, 2008)
- Financial Vehicles: What's Hot, What's Not, Convergence M&A Summit — Southampton, NY (June 16, 2008)
- Special Purpose Acquisition Companies, “SPACs” - Everything You and Your Clients Need to Know About SPACs, The District of Columbia Bar's Off-the-Record Luncheon Program — Washington, D.C. (February 28, 2008)
- Beyond the Headlines: Determining the Costs and Benefits of Registering Your Fund in Today's Regulatory Climate, and the Effect of IPOs on Every Firm in the Market, IRR's Private Equity Fund Formation & Management Conference — Boston, MA (November 30, 2007)
- How Much is Enough? U.S. Securities Regulation in the Face of Global Capital Markets, The American Branch of the International Law Association's International Law Weekend 2006 — New York, NY (October 27, 2006)
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- University of Virginia School of Law, J.D., 1991
- University of Virginia Darden School of Business, M.B.A., 1991
- Harvard College, A.B., 1985, magna cum laude
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- New York
- District of Columbia
- Massachusetts