Tully Friedman

Last updated
Tully Friedman
Tully Friedman (1510073022).jpg
Born
Tully Michael Friedman

1942 (age 82–83)
Education Stanford University (BA)
Harvard Law School (JD)
Occupation(s)Businessman, investor, philanthropist
Employer Friedman, Fleischer and Lowe
Known forCo-founding Hellman & Friedman; FFL Partners
Spouse(s)Anne Fay (divorced)
Elise Dorsey

Tully Friedman (born January 1942) is an American businessman. [1] [2] [3] [4] A founding partner of Hellman & Friedman, [3] as of 2013 he was chief executive of Friedman, Fleischer and Lowe, a San Francisco-based private equity firm. [5]

Contents

Early life

Tully Friedman earned a bachelor's degree from Stanford University and later received a Juris Doctor from Harvard Law School. [6]

Career

Friedman began his finance career at Salomon Brothers, where he served as a managing director and founded its West Coast Corporate Finance Department, and served on its national Corporate Finance Administrative Committee. [3] [4] [7]

In 1984, he and Warren Hellman founded Hellman & Friedman, an investment company. [3]

From 1984 through early 1997, Hellman & Friedman raised partnerships representing more than US $2.5 billion and made investments in about 40 companies. [8]

In 1997, Friedman left Hellman & Friedman to co-found Friedman Fleischer & Lowe (now FFL Partners), a San Francisco–based private equity firm. [1] [2] [3] [4] The firm has raised multiple funds since its founding, with total committed capital exceeding US$4 billion. [9] [10]

In a 2013 interview, Friedman discussed changes in the private equity industry, citing increased competition and regulatory oversight since the 1990s. He noted that deal-sourcing strategies and fund structures had become more complex and that firms like FFL Partners had adapted accordingly. [11]

Board memberships and philanthropy

He sits on the boards of Clorox, Kool Smiles, NCDR, Church's Chicken, Cajun Operating Company, Archimedes Technology, and DPMS LLC. [1] [2] He previously served on the Boards of CapitalSource, Levi Strauss & Co., Mattel, and McKesson Corporation. [1] [2] [3] [4] He is a former president of the San Francisco Opera Association and chairman of Mount Zion Hospital and Medical Center. [3] He is also chairman of the board of trustees of the American Enterprise Institute. [12] He also sits on the board of trustees of the Telluride Foundation in Telluride, Colorado. [3] [13] and St. Paul's School in Concord, New Hampshire. [14]

Personal life

Friedman was first married to Ann Fay Barry, a descendant of Paul B. Fay. [15] [16] In 1995, he married Elise Dorsey in an Episcopal ceremony in Sonoma, California. [17] They have two children, Alexander and Allegra. [14] Until November 2012, Friedman owned a neo-classical-style home in Woodside, California, that was featured in the book, Extraordinary Homes California: an Exclusive Showcase of the Finest Architects, Designers and Builders in California. [5] [18]

References

  1. 1 2 3 4 Forbes
  2. 1 2 3 4 Bloomerg BusinessWeek [ dead link ]
  3. 1 2 3 4 5 6 7 8 Friedman Fleischer & Lowe biography Archived 2013-01-25 at the Wayback Machine
  4. 1 2 3 4 Clorox Board of Directors biography
  5. 1 2 Lauren Beale, Estate in Woodside, a Silicon Valley haven, sells for $117.5 million, Los Angeles Times , January 28, 2013
  6. ↑ "Tully Friedman Profile". Forbes. Retrieved 2025-11-10.
  7. ↑ Toll, David (2011-12-21). "Remembering Warren Hellman: 'An Openness To Ideas And To People'". PE Hub. Retrieved 2025-11-15.
  8. ↑ "Tully Friedman P'17,'17 | St. Paul's School". www.sps.edu. Retrieved 2025-11-10.
  9. ↑ Armental, Maria (2022-05-24). "FFL Partners Raises $917 Million for Its Fifth Buyout Fund". Wall Street Journal. ISSN   0099-9660 . Retrieved 2025-11-10.
  10. ↑ "FFL Partners raises over $900m for fifth fund - Private Equity Wire". 2022-05-25. Retrieved 2025-11-10.
  11. ↑ "Tully Friedman on the rapid evolution of the buyouts business". PE Hub. October 9, 2013. Retrieved 2025-11-10.
  12. ↑ American Enterprise Institute Board of Trustees
  13. ↑ Telluride Foundation Board of Directors
  14. 1 2 https://www.sps.edu/about/leadership/board-of-trustees/tully-friedman-p1717
  15. ↑ Reinhold, Robert (September 12, 1988). "Opera Ball Draws San Francisco's Bejeweled Elite". The New York Times . This is considered the social event, the beginning of the season, said Ann Friedman, wife of Tully Friedman, the venture capitalist. I love it, everything is sparkling and glamorous. Mrs. Friedman is a fifth-generation San Franciscan whose grandfather, Paul B. Fay, helped bring civilization to the city by paving its streets
  16. ↑ "WALKER III, Albert Evans". San Francisco Gate. March 26, 2002.
  17. ↑ Pat, Steger (June 14, 1995). "The Social Scene -- Nothing Fishy at Rainforest Bash / Awards party at Spectrum supports a good cause". San Francisco Gate. She was one of six bridesmaids in the wedding Sunday of Elise Dorsey to financial whiz Tully Friedman at St. Andrew's Church in Sonoma.
  18. ↑ Alyssa Abkowitz, A Greenwich House Aims to Sell for $190 Million, The Wall Street Journal , May 17, 2013
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