Dechert’s expertise in financial services transactions was recognized when the US$5.7 billion acquisition of OppenheimerFunds by Invesco Ltd. from Massachusetts Mutual Life Insurance Company was named “Financial Services Deal of the Year” by leading finance publication The Deal in its headline The Deal Awards 2020. Dechert advised OppenheimerFunds in the transaction, the largest in the U.S. asset management industry for five years.
The Deal established its headline awards program to recognize innovative large-cap market transactions and the firms that drive them. Winning transactions are chosen for their complexity and impact on the deal economy.
“At Dechert, we are proud that our financial services clients trust us to advise them on their most complex transactions,” said Mark Thierfelder, chair of the firm’s corporate and securities group and its global private equity practice. “To be recognized for excellence in financial services M&A once again is deeply satisfying.”
In July, The Deal honored Dechert as “Financial Services Firm of the Year” in its Middle Market Awards 2020, created to recognize excellence in mid-cap work. In that event, another Dechert transaction – the US$490 million sale of CoreVest American Finance Lender by Fortress Investment Group to Redwood Trust, a mid-market real estate investment trust – was named “Financial Services Deal of the Year”. Dechert represented the senior management team at CoreVest, a specialty finance company that provides private debt to residential real estate investors, in the complex cash-and-stock deal.
Dechert’s interdisciplinary team of lawyers from the corporate, financial services and finance and real estate practices has advised on more than 60 transactions in the financial services sector since 2019, totaling over US$60 billion in aggregate value. Despite the challenges, the firm has continued to play a key role representing financial services clients throughout 2020. Standout transactions have highlighted Dechert’s strengths in asset management deals, CLO consolidations, and BDC formations/consolidations, as well as in the real estate, insurance and banking sectors.
Clients included private equity and hedge funds, public and private companies, global investment advisers, and registered funds investing in financial institutions, bank holding companies, and other companies that control banks.
Winners in The Deal Awards were announced in a special September awards edition of Deal Maker Quarterly.
About Dechert
Dechert is a leading global law firm with 26 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
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