Elizabeth Shea Fries

2023–2025 representative matters include representing:

• Citigroup in the sale of Citi Global Alternatives, LLC to iCapital.
• Apollo (NYSE: APO) and its independently managed affiliate, Redding Ridge Asset Management (RRAM), in RRAM’s acquisition of Irradiant Partners.
• Ariel Investments, LLC in the ongoing formation and launch of Project Level, a new private investment fund built to “level the playing field” through investment in women’s sports.
• Pretium Partners in (1) its strategic partnership with and minority GP stakes investment from Hunter Point Capital, (2) a preferred stock financing, and (3) the acquisition of BH Management Services.
• A sovereign wealth fund in a US$1.5 billion investment in an insurance and asset management business.
• Eldridge in the launch of Eldridge Acre Partners, a real estate asset management platform.
• Anthelion Capital Holdings (formerly known as Cowen Sustainable Investments), in its spin-off from Cowen, and subsequent matters including the acquisition by its funds of the Energy business unit of Proterra Inc.
• HighVista Strategies in the acquisition of the US$4 billion U.S. private markets business of Abrdn Inc.
• American Century in its expansion into private investments with the addition of 3x5 Partners’ venture capital team.
• Funds managed by Stone Point Capital in their investment in IEQ Capital.
• WhiteHawk Capital Partners in the restructuring of its management company, formation of a closed-end credit fund, and an evergreen credit fund.
• U.S. and UK investment managers launching hedge funds with varying strategies.
• Institutional banking clients in the launch and expansion of platforms offering private investment funds to high-net-worth investors through wealth managers and similar intermediaries.
• Multiple registered investment advisers in responding to SEC examination requests and successfully addressing issues raised in deficiency letters.

Liz serves, or has served, as a member of the Board of Directors of:

• Artists for Humanity (a Boston-based non-profit that bridges economic, racial, and social divisions by providing teens with the keys to self-sufficiency through paid employment in art and design) (2024–present);
• MFA (the trade association for the global alternative asset management industry) (2023–present);
• Greater Boston Legal Services (which provides free non-criminal legal assistance to low-income individuals and families in Greater Boston) (2014–present); 
• Health Advocacy Innovations (which aims to address neglected and under-resourced global health issues, from a social justice and health equity standpoint) (2015–2017);
• Boston Bar Association (Council), the oldest bar association in the United States and the hub of Greater Boston’s legal community (2008–2011); and
• Common Impact (which creates talent and skills-building programs to develop and engage corporate employees, while partnering with successful nonprofits to use this talent to advance their missions) (2001–2011).