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Thomas J. Friedmann, co-chair of Dechert’s Global Corporate Finance and Capital Markets Practice, represents domestic and foreign issuers and investment banks in public and private securities transactions. Mr. Friedmann also advises corporate clients on matters relating to securities law, corporate governance, and general corporate matters, including financial restructuring and securitization transactions.

Mr. Friedmann has advised various 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. Mr. Friedmann also counsels public and privately held companies in the energy, technology and manufacturing sectors 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. In addition, he advises on general corporate matters, such as corporate governance and board issues, compliance and disclosure matters, and periodic reporting.

Mr. Friedmann is consistently recognized for his work in capital markets: debt and equity offerings and has been recognized for his work in investment fund formation and management: mutual/registered funds by The Legal 500 (U.S.). He is also listed in The Best Lawyers in America for Securities/Capital Markets Law.

Significant Representations


Examples of corporate finance and capital markets transactions on which Mr. Friedmann has advised in recent years include:
  • Golub Capital BDC, Inc., a business development company and an affiliate of Golub Capital, on its organization and $110 million initial public offering of common stock and listing on the Nasdaq Global Stock Market, several subsequent follow-on offerings of common stock, applications for exemptive relief, joint ventures and other initiatives.
  • PennantPark Investment Corporation and PennantPark Floating Rate Capital Ltd., each business development companies, on their respective initial public offerings of common stock and listings on the Nasdaq Global Market, numerous follow-on offerings of common stock, financings and an offering of senior notes.
  • WhiteHorse Finance, Inc., a business development company and an affiliate of private equity firm H.I.G. Bayside, on its formation, incurrences of credit financing and $100 million initial public offering of common stock.
  • Underwriters, led by Robert W. Baird & Co. Incorporated, William Blair & Company L.L.C. and Janney Montgomery Scott LLC, on the formation and initial public offering of common stock by Monroe Capital Corporation, a business development company.
  • Janney Montgomery Scott, as book-running underwriter, on a $35 million offering of preferred stock by Gladstone Capital Corporation, which represented the first preferred stock offering by a business development company.
  • Whole Foods Market, Inc., a leading natural and organic foods supermarket, in a $425 million private placement of convertible preferred stock by an affiliate of private equity firm Leonard Green & Partners, L.P.
  • Garrison Capital Inc., a business development company, on its organization and $80 million initial public offering of common stock.
  • Union Square Hospitality Group LLC (USHG) in connection with Leonard Green & Partners’ equity investment in USHG as well as a $20 million private placement by SSE Holdings LLC (“Shake Shack”).
  • Pan-European Hotel Acquisition Company, N.V., a special purpose acquisition company (SPAC) organized in the Netherlands, on its $125 million initial public offering and listing on Euronext Amsterdam, representing the first SPAC listed on Euronext and the first equity listing on Euronext to feature full book-entry settlement of listed Euronext shares and shares privately placed in the United States.

Education

Harvard College, A.B., 1985, magna cum laude
University of Virginia Darden School of Business, MBA, 1991
University of Virginia, J.D., 1991

Bar Admissions/Qualifications

New York
District of Columbia