Tully Friedman
American businessman (born 1942)
From Wikipedia, the free encyclopedia
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]
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1942 (age 83–84)
Harvard Law School (JD)
Tully Friedman | |
|---|---|
Friedman in 2007 | |
| Born | Tully Michael Friedman 1942 (age 83–84) |
| Education | Stanford University (BA) Harvard Law School (JD) |
| Occupations | Businessman, investor, philanthropist |
| Employer | Friedman, Fleischer and Lowe |
| Known for | Co-founding Hellman & Friedman; FFL Partners |
| Spouse(s) | Anne Fay (divorced) Elise Dorsey |
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]