Dechert provides efficient, cross-disciplinary service, innovative structures and timely completion of our clients’ transactions.

Dechert’s Warehouse and Asset-Based Financing team is one of the most sophisticated in the industry. With over 125 lawyers with expertise in asset-based financing transactions, we are one of the largest teams in the market. We offer comprehensive legal services on both the lending and borrowing side of asset-based financing transactions. Our experienced team of lawyers based in the US, Europe and Asia specializes in structuring, negotiating and advising in connection with a wide range of asset-based financings and has in-depth experience with a variety of financing documentation formats, including revolving and term credit facility agreements, repurchase agreements, derivatives-based agreements, note indentures and note purchase agreements, forward purchase and delayed settlement transactions and LSTA form participation agreements. Our team also includes world class experts in a broad range of laws, rules and regulations relevant to financial products, including the Dodd-Frank Act, Regulations AB and AB II, US, UK and EU risk retention rules and bank and insurance capital regulation in the UK and EU.

We represent a diverse clientele, including banking institutions, asset managers, hedge funds, direct lenders, private credit funds, private equity funds, pension funds and other market participants across various industries. Our expertise spans numerous asset classes, including: 

  • Dechert attorneys have extensive experience in the prime and subprime auto space working with the industry’s leading borrowers and lenders to structure and negotiate warehouse financings and other asset-backed lending facilities. Building on our rich history in the asset-backed securitization market, we represent an array of clients in transactions involving a broad range of auto-related assets, such as auto loans and leases, floorplan, rental cars and ride sharing programs. We assist new or seasoned borrowers in navigating issues such as state licensing, tax structuring, operational considerations and securities law compliance.

    Key Contacts: Sarah E. Milam | Andrew Pontano | Richard Pugh

  • Dechert’s preeminent commercial real estate team represents major investment banks, funds and other financial institutions in connection with mortgage loan repurchase facilities, loan-on-loan financings and commercial mortgage loan securitizations. Building on this experience, our commercial real estate warehouse team provides integrated representation to both repo buyers and repo sellers with a perspective that tracks the entire life of a commercial mortgage loan. With our global footprint, we are also uniquely positioned to assist clients with multi-currency transactions that involve assets across numerous jurisdictions around the world. 

    Key Contacts: Gennady Gorel | Aparna Sehgal

  • Dechert has a market-leading practice focused on representing asset managers and their lenders in leverage strategies for private credit funds, including bankruptcy-remote financings, bond issuances, repurchase facilities and other bespoke financings. Our top-ranked multi-disciplinary corporate finance, securitization, investment adviser and fund lawyers regularly provide sophisticated advice and integrated legal and regulatory services to asset managers, investment banks, business development companies, private funds, direct lenders and equity investors globally.

    Key Contact: Edward Newlands

  • As a leading global law firm in consumer finance securitization, we have worked with financial institutions and platforms on a variety of financing transactions involving credit card receivables, including flow purchase transactions, warehouse facilities, master trust creation and securitizations. Dechert helps our clients address the complex legal considerations that can arise during credit card receivable transactions, such as compliance with securities laws, structuring, servicing and licensing.

    Key Contact: Sarah E. Milam

  • Dechert is a leading advisor in connection with financings of non-performing and sub-performing asset pools, including liquidating trust vehicles. These structures tend to become more popular during periods of economic turmoil when non-performing and sub-performing assets are more plentiful. We have been engaged to advise in connection with numerous warehouse and acquisition facilities involving purchase of asset pools and failed institutions, as well as in connection with the securitizations that often follow.

    Key Contacts: Gennady Gorel | John McGrath

  • Dechert’s residential warehouse and repurchase facility team has broad experience in representing our clients in connection with financing the acquisition of residential mortgage loans. We understand the regulatory complexities of acquiring, holding, and financing these assets and regularly assist clients with financings related to non-performing loans, reperforming loans, performing loans, non-QM loans, second lien and home equity lines of credit (HELOC), reverse mortgages, fix-and-flip and other loan types in the residential space. Additionally, Dechert provides guidance with respect to the servicing and custodial issues related to these types of loans. Dechert also regularly advises our clients in the negotiation of whole loan sale agreements and servicing agreements and represents issuers and underwriters in the securitization of residential mortgage loans.

    Key Contacts: Ralph Mazzeo | John McGrath | Gennady Gorel

  • Dechert has been a leading player in the single-family rental (“SFR”) space since its inception in the early 2010’s. We are trusted advisors to both SFR owners and financing providers and have structured numerous warehouse facilities and securitizations in this space.

    Key Contact: Kenneth Hackman

  • Dechert has become the “go-to” advisor of cutting-edge companies looking for innovative strategies to finance newer consumer assets driven by fintech, such as marketplace and point-of-sale loans. Clients have come to rely on Dechert to help them navigate the complex and novel structural, regulatory and tax considerations of financing their operations in this rapidly evolving space, and in making investments in these businesses. Dechert frequently advises its clients in transactions involving bank origination models and third-party payment processors.

    Key Contacts: Sarah E. Milam | Andrew Pontano

  • Building on our broad experience with traditional asset classes, Dechert has extensive experience advising originators and investors in transactions involving a wide range of esoteric assets, including solar and wind receivables, structured settlements, timeshare receivables, life settlements, litigation finance loans, insurance premiums, whole business, intellectual property, annuities, patent and trademark license royalties, sports and trade receivables, property assessed clean energy (PACE) bonds commodities and novel consumer loans, among others.

    Key Contacts: Sarah E. Milam | Richard Pugh

Our representation of many clients continues during the term of the financing transaction and beyond, as we assist clients with asset-on-boarding, takeout financing and securitization. In the rare cases where it becomes necessary, our team is also able to advise in connection with enforcement, workout, restructuring and litigation.

At Dechert, we are committed to delivering exceptional legal services and practical solutions to help our clients achieve their goals in the ever-evolving landscape of warehouse and asset-based financing.