Milbank, citing success with its M&A and private equity practices, is getting into PE fund formation, with the hire of Fried, Frank, Harris, Shriver & Jacobson partner Rami Turayhi, the firm said Thursday. Dean Sattler, the firm's U.S. global corporate and M&A leader, said fund formation and adjacent practices "are areas of growth" at Milbank. "Rami’s arrival is the first step in building a top-tier funds practice.” Turayhi advises sponsors and investment managers across strategies and industries, the firm said, including buyout, real estate, energy and infrastructure funds, funds-of-funds and single-asset funds. Scott Edelman, chair of Milbank, said in a statement that Turayhi has "extensive fund formation experience and a strong reputation for advising premier clients on sophisticated, market-defining work." He added that his arrival "positions us to support clients as fundraising structures and regulatory considerations continue to evolve.” Sattler and Turayhi declined to comment on whether the firm’s continued build will include other attorneys from Turayhi’s former firm. Both said they had high expectations for what the firm could do in 2026 in the funds space, especially as it pertains to the real estate, energy and infrastructure verticals. “Data centers, transportation, energy, when building out a funds practice, it is one thing to go in and broadly build one out,” Turayhi said. “But when you have a leading firm in these industry groups, it is different. And that is why this is a compelling offering.” Turayhi, who was a partner at Fried Frank for four years, said his reasons for moving were based on both Milbank’s reputation and changes he sees coming in the private equity funds space. “A lot of firms do work in the funds space, but Milbank was particularly compelling. Reputation was a key driver for both my current and future clients. I specialize in energy, infrastructure and real estate, areas of strength for Milbank. And those groups will have an outsized influence in the coming years," he added. A spokesperson for Fried Frank said the firm wishes Turayhi well in his future endeavors.