Elizabeth Shea Fries

Elizabeth Shea Fries

Elizabeth Shea Fries

Elizabeth Shea Fries, a partner in the firm's Financial Industry Practice, provides clients strategic advice on a broad range of transactions, business and investment structures and regulatory matters. She has particular expertise in creating and structuring asset management and other financial businesses, financial services mergers and acquisitions, innovative investment products (including hedge funds and other alternative investments), fiduciary issues and compliance matters. Ms. Fries serves on the firm’s Partnership and Inclusion Advisory Committees, is a former member of its Executive and Strategic Planning Committees and acts as co-leader of the firm's Impact and Responsible Investing Practice.

Professional Activities

Ms. Fries is a member of the International, American, Boston and New York City Bar Associations, and serves on the NYC Bar Committee to Enhance Diversity in the Profession. She has served as a member of the Council of the Boston Bar Association, its Executive and Finance Committees and as a Co-Chair of its Business Law Section.

She is currently on the Board of Directors of Greater Boston Legal Services, which provides free non-criminal legal assistance for poor people in Greater Boston, and Health Advocacy Innovations, Inc., a non-profit organization that aims to address neglected and under-resourced global health issues, from a social justice and health equity standpoint. Ms. Fries has also served as a member of the Board of Directors of Common Impact, a nonprofit organization that connects skilled professionals from leading companies to high-potential nonprofits for the common good.


Ms. Fries has been selected for inclusion in Chambers Global: The World’s Leading Lawyers for Business, Chambers USA: America’s Leading Lawyers for Business, U.S. News–Best Lawyers, The Legal 500 U.S., The International Who’s Who of Private Fund Lawyers and the Women in Business Law Expert Guide, among other recognitions. The Legal 500 U.S. specifically identifies her “deep experience” and “innovative approach” and Chambers Global 2015 interviewees noted she is excellent in her command of the subject area, while also being responsive, thoughtful and commercial in her thinking.

At Columbia University School of Law, Ms. Fries was a Senior Editor of the Columbia Law Review.

Areas of Practice


Ms. Fries’ recent transactional experience includes representing:

  • Owl Rock Capital Partners in its formation and initial financing
  • Easterly Capital, a private equity partner to a variety of asset management platform companies (including Easterly Government Properties (NYSE: DEA)), in structuring, investment and compliance matters
  • Windhorse Capital Management, a registered investment adviser, on strategic matters and product development
  • Callan Associates, an investment consulting firm, in the creation of collective investment funds for post-spilt Hewlett-Packard retirement plans and in advising proprietary mutual funds
  • TA Associates, a global growth private equity firm, in its majority investment in NorthStar Financial Services Group, a holding company for several subsidiaries with $300 billion in assets under management and administration
  • Bank of New York Mellon (NYSE: BK) in multiple matters including the creation of a real estate credit management platform and the creation of an online investing program
  • Halsey & Associates, a wealth manager, in its sale to a subsidiary of Washington Trust Bancorp, Inc. (Nasdaq: WASH)
  • Highmount Capital Management in its sale to Brown Advisory, an independent investment management firm
  • Northern Lights Capital Group in its combination transaction with Treasury Group Limited, now Pacific Current Group (ASX: PAC) (M&A Advisor Cross-Border Deal of the Year 2015 ($100mm-$250mm))
  • Investor in Luminex Trading & Analytics LLC, a new trading venue created by a consortium of leading investment management firms
  • Boston Private Financial Holdings (Nasdaq: BPFH), in its acquisition of wealth manager Banyan Partners, LLC
  • Advent International, a global private equity firm, in the establishment of Sunley House Capital Management
  • TIAA in various matters, including the creation of custom lifecycle products and services for 403(b) plans
  • Sequoia Capital, a venture capital firm, in compliance and hedge fund matters, including seeding
  • HighVista Strategies, an endowment manager, in structuring, investment and compliance matters



J.D., 1989
Columbia Law School

(Harlan Fiske Stone Scholar )

A.B., 1986
Dartmouth College

(magna cum laude)



New York
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