Fried Frank acted as counsel to Wafra Inc. in its acquisition of a minority stake in Siris Capital Group LLC. The transaction, done in conjunction with Landmark Partners LLC, will provide capital to repurchase an existing minority stake that was issued at Siris' inception in 2011. The financial terms of the transaction were not disclosed. Wafra is an investment firm with more than US$23 billion of assets under management and invests across a wide range of asset classes. Siris is a private equity firm focused on making investments in data, telecommunications, technology, and technology-enabled business service companies.
The Fried Frank team was led by corporate partner Andrew J. Colosimo and included corporate partner Shant P. Manoukian; tax partner Kenneth Rosenfeld; and corporate associates Bram Couvreur, Robert Engelke, and Thomas Lee.