In 1974, Foster Friess founded Friess Associates in the Brandywine Valley region of Delaware. The firm’s early success managing separate portfolios for institutions and high-net-worth individuals led to the launch of Brandywine Fund at the end of 1985 and Brandywine Blue Fund at the beginning of 1991. The subsequent success of the Brandywine Funds helped establish Friess Associates among the industry’s most notable boutique growth-equity managers by the start of the new millennium.
In 2001, Friess Associates facilitated succession from its founder by partnering with Affiliated Managers Group (AMG), making Friess Associates a majority-owned subsidiary of a public company. In the years following the 2008 financial crisis, senior management determined that Friess Associates needed to restructure to better position the firm to meet the long-term needs of clients and employees. Friess Associates and AMG agreed to terms that returned Friess Associates to private ownership in 2013.
A “new” Friess Associates emerged 100% employee-owned. After more than 40 years in operation, the firm was remade with a shared vision requiring each employee to embrace every Friess Associates client’s success as his or her personal obligation.