Dechert's Capital Solutions practice is a globally integrated platform that provides strategic advice to clients as they deploy, scale and safeguard capital across cycles.

We provide expertise in bespoke financing arrangements, stressed and distressed special situations, liability management and enforcement, and deliver out-of-court restructuring solutions and (when necessary) in-court resolutions. Matters span senior secured and unitranche facilities, preferred equity and hybrid capital, securitization and CLO structures, growth equity co-investments, exchange offers, uptiering and dropdown transactions, debtor-in-possession financings, Chapter 11 proceedings, English Part 26A restructuring plans and 363-sale processes.

Dechert's cross-disciplinary Capital Solutions team includes market-leading lawyers in our deal, restructuring, credit, tax, regulatory and litigation groups, allowing us to be nimble and bring practical and strategic judgment and execution certainty to the full range of capital structures. We advise on the governance dimensions of complex financings and restructurings; structure distressed M&A, debt-for-control transactions and structured equity and hybrid capital solutions; and steer clients through multi-party creditor and stakeholder negotiations with a consistent, solutions-oriented focus on achieving the best available outcome. We quarterback complex transactions from strategy to close, mobilizing the right team and toolkit for each situation to ensure best-in-class structuring, investment protection and desired results.

Why Dechert?

The breadth and complexity of capital challenges have grown dramatically. Companies, sponsors, lenders and creditors are increasingly seeking capital solutions that span the full capital life cycle – go-anywhere, bespoke strategies that bridge growth, address liquidity needs, navigate structural complexity and manage liabilities, execute recapitalizations and respond to market dislocation.

Clients rely on Dechert to handle these transactions no matter what form they take – senior debt, securitization, minority investment, control M&A or restructuring. Few firms have our strong experienced bench throughout a deal's life cycle. Our integrated, global team structures and executes bespoke capital solutions that optimize returns, preserve flexibility and manage downside risk – particularly in situations involving financial stress, dislocation or structural complexity. In every engagement, our goal is the same: protect and optimize our client's position, secure the right liquidity solution and establish a clear path forward through complexity and uncertainty.

Dechert's structured credit practice is a particular differentiator within our Capital Solutions platform. As the leading CLO firm globally, we bring to every capital solutions engagement an unmatched understanding of how securitization vehicles, rated fund structures and private credit platforms interact with the broader capital markets. This means that when a client is pursuing a complex financing – whether a bespoke hybrid structure, a rated continuation vehicle or a strategic equity partnership – we can design and execute across the full architecture of the transaction, from the CLO formation documents and the management company operating agreement to the fund-level LP structure and the institutional investor's evergreen access vehicle.

What sets us apart

  • Full capital stack capability: We structure protective, flexible and customized solutions utilizing a mix of debt, equity and hybrid capital. We advise on transactions spanning growth capital, structured financings, distressed situations and formal insolvency processes, enabling clients to execute strategies in both stable and dislocated markets.
  • First-mover liability management credentials: Our capital solutions lawyers don't follow the playbook – they define it. Dechert lawyers have advised on more than US$47 billion of funded debt restructurings across liability management transactions in the past two years, including first-of-their-kind structures such as uptiering, dropdown financings and double-dip arrangements.
  • Execution certainty in complex situations: Our lawyers have a proven ability to consistently drive 98 to 100% lender participation in complex multi-party transactions involving creditor negotiations and restructuring dynamics.
  • Deep relationships across the private capital ecosystem: We represent 100% of the world’s top 10 asset managers and 80% of the PDI 100, enabling us to provide clients with unique insights into market data, trends and structuring innovations across cycles and giving them a distinct edge.
  • Market-leading CLO and structured credit platform: Dechert is the preeminent law firm for CLO managers, issuers and investors globally. We have been recognized as CLO Law Firm of the Year and have advised on more CLO formations, resets, refinancings and equity partnership structures than any other firm. Our structured credit team brings deep experience across the full life cycle of a CLO – from initial warehouse facility and formation through reinvestment period management, restructuring and wind-down – as well as in esoteric ABS, middle market CLOs, rated feeder funds and collateralized fund obligations (CFOs). We regularly advise managers on the regulatory, tax and structural issues unique to CLO platforms, and provide integrated counsel on risk retention compliance, AIFMD and cross-border distribution.
  • Innovative solutions: We bring innovative products and structures to market, including hybrid fund structures, private loan securitizations, middle market CLOs, rated funds and CFOs, sustainability-linked private credit financings, private credit secondaries and stakes transactions, and more. Our entrepreneurial team has been transforming the private capital industry since its inception, creating new market standards and capitalizing on opportunities as the industry continues to expand at a rapid rate.