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Fried Frank
A US law firm whose London practice focuses on investment funds, private equity, finance and corporate transactions.
About Fried Frank
Fried Frank advises corporations, investment funds and financial institutions through offices in New York, Washington DC, London, Frankfurt and Brussels. Its London practice connects asset management, private equity, corporate transactions and finance, with supporting expertise in competition, tax and restructuring. The firm’s funds work encompasses private equity, credit, infrastructure and real estate investment strategies. For prospective trainees, this provides an opportunity to understand how investment businesses raise capital, acquire assets, arrange financing and manage their portfolios. The London programme offers a small cohort and practical experience working directly with partners and associates on UK, European and international matters.
Fried Frank’s two-year London training contract comprises four six-month seats. Practice options include M&A and private equity, asset management, corporate finance, corporate real estate and antitrust. Trainees work with partners and associates across departments, developing practical experience of the firm’s transactional work.
Development includes departmental training, supervisor feedback and quarterly individual coaching with an external career coach. Trainees are encouraged to seek feedback actively and build working relationships across the office. The firm provides SQE1 and SQE2 sponsorship and a £13,000 maintenance grant during SQE studies.
Client secondment opportunities can arise, although availability varies. Newly qualified lawyers also have opportunities to attend training in New York through Fried Frank University.
Practice areas & rankings
Fried Frank has seven ranked departments in Chambers UK 2026. These include Band 1 for Investment Funds: Private Equity: Credit Funds, and Band 2 rankings for private equity funds, private equity secondaries and fund finance. Its other department rankings cover leveraged finance, restructuring and tax.
Ranked departmentsChambers UK
Explore the practice areas
Ranked Band 2 for Investment Funds: Private Equity, UK-wide, in Chambers UK 2026, Fried Frank advises on fund formation, fundraising, secondary investments and co-investments. Its London practice works with European alternative asset managers and private equity sponsors, supported by the firm’s New York funds team. A highlighted mandate involved BlackRock’s approximately US$1.4 billion Decarbonization Partners Fund.
Fried Frank holds Band 1 for Investment Funds: Private Equity: Credit Funds and Band 2 for Investment Funds: Private Equity: Secondaries, UK-wide, in Chambers UK 2026. Its work includes credit fundraising and continuation-fund transactions. Examples include advising CVC Credit Partners on a junior capital debt fund closing above €1.6 billion and CVC Secondary Partners on a continuation-fund investment.
Ranked Band 2 for Banking & Finance: Fund Finance, UK-wide, in Chambers UK 2026, the team advises private equity sponsors and asset managers on borrowing arrangements across fund finance products. The practice complements the firm’s fund formation expertise, connecting the establishment of investment vehicles with their financing requirements.
Ranked Band 4 for Leveraged Finance: Borrowers/Sponsors: Big Ticket, London, in Chambers UK 2026, Fried Frank represents private equity sponsors and portfolio companies on financing transactions. Cross-border deals are a particular feature of the practice, supporting the firm’s wider private capital work.
The application process
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Fried Frank recruits directly for London training contracts and does not run a vacation scheme. The next published application window runs from 1 December 2026 to 21 May 2027. The deadline listing identifies this as recruitment for 2029 entry.
Prepare a clear explanation of why the London practice appeals to you. Its work offers useful connections to explore: a private equity sponsor may need advice on establishing a fund, financing an acquisition, buying a business and eventually selling the investment. Explain which aspects interest you and how you developed that interest.
Support your suitability with examples showing initiative, analytical thinking and responsibility. A small trainee cohort makes clear communication and dependable working relationships particularly relevant. Describe your own actions and their effect, rather than relying on general claims about teamwork or commercial awareness.
For commercial preparation, investigate an issue affecting investment managers or portfolio companies. Consider how financing costs, fundraising conditions or regulatory change might influence a client’s decisions. Current application questions and word limits await confirmation when the next form opens.
Fried Frank: quick answers
How much does Fried Frank pay trainees?
Fried Frank pays first-year trainees £65,000, rising to £70,000 in the second year. Newly qualified solicitors at Fried Frank earn £175,000.
How many trainees does Fried Frank take on?
Fried Frank takes on around 4 trainees in each intake, so places are competitive and strong applications matter.
What tests does Fried Frank use in its applications?
Psychometric testing forms part of the published selection methods. Previous recruitment processes have included a separate online verbal reasoning test after application screening, but the test format and its position in the next campaign have not been confirmed. Practise interpreting short passages accurately and deciding whether statements are supported, contradicted or unresolved by the information provided. Avoid introducing outside knowledge. Use the invitation instructions to establish the assessment type, timing and completion window.
What grades do you need to apply to Fried Frank?
To apply to Fried Frank you will generally need a 2:1+ degree. At A-level, Fried Frank asks for AAB. Requirements can flex where there are mitigating circumstances, so always check the firm's own criteria if your grades differ.
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