Dechert Plays Key Role in Representing Clients in Innovative Financial Services M&A Transactions in 1H 2020
Coming off an impressive 2019, Dechert continued being a leading advisor in the financial services industry by guiding its clients on 16 complex and innovative M&A transactions in first half of 2020, some of which have been recognized for significantly impacting the global deal economy. Over the past seven months alone, Dechert has advised financial services clients on a variety of deals representative of Dechert’s strengths across industry sectors, including asset management deals, CLO consolidations, BDC formations and consolidations, as well as deals in the real estate, insurance and banking sectors and numerous jurisdictions worldwide, including the U.S., UK, Ireland, Germany, Luxembourg, Italy and Israel. The Deal named Dechert “Financial Services Law Firm of the Year” in its Middle Market Awards 2020 and a Dechert transaction – the US$490 million sale of CoreVest American Finance Lender by Fortress Investment Group to Redwood Trust – as “Financial Services Deal of the Year.”
“It’s been truly remarkable to see our teams mobilize to provide clients with vital Covid-related guidance, while still ensuring active deals stay on track and progress. A few of the deals we worked on this year started before the onset of the global pandemic, and through our expertise and true collaborative nature, we were able to get these deals over the finish line for our clients,” said Adam Rosenthal, a partner in Dechert’s corporate and securities practice who focuses on financial services M&A. “It’s really a testament to the experts we have here at Dechert from the corporate, financial services, finance, real estate and tax teams. As we start to see a pick-up in deal activity in the industry, these teams are ready to provide our clients with exceptional guidance, no matter the market condition we may face.”
Some of the financial services transactions Dechert has advised on in 2020 thus far include:
- EnTrust Global on its acquisition from Franklin Templeton of the 65% interest that Legg Mason, Inc. holds in EnTrust Global.
- FS Investments on its acquisition of Chiron Investment Management.
- Investcorp, a leading global manager of alternative investments, and Tages, a leading European alternative asset management firm, in connection with a 50/50 joint venture and contribution of their subsequent merger of the Absolute Return businesses to create Investcorp-Tages Limited.
- Sorella Partners and Fratello Partners on its acquisition of 31% of La Française Global Investment Solutions (LFIS) from global asset manager La Française Group, a subsidiary of French bank Groupe Crédit Mutuel.
- The founder of Chill Insurance Limited on the sale of a majority stake to Livingbridge Private Equity.
- StoneCastle Asset Management and its parent StoneCastle Partners LLC on its sale of StoneCastle Asset Management’s Bank Investment Platform to ArrowMark Partners.
Dechert is one of the preeminent advisors to the financial services industry with a thorough understanding of the unique issues inherent in this sector – and as one of the most active law firms for M&A globally, knowing how to negotiate and execute successful transactions in any deal environment. Since 2019, Dechert’s financial services M&A lawyers guided clients through more than 60 transactions totaling over US$60 billion. Please see the Financial Services M&A 2019 Highlights for additional information.
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.