financial services

Financial Services M&A

Driving M&A success for the financial services industry

Dechert is among the world’s most active law firms in advising financial services companies on significant mergers and acquisitions. We handle the full range of financial services deals, from public M&A transactions to minority investments in investment advisers to assistance with asset purchases that typically accompany fund reorganization transactions.

Dechert has been top-ranked by the most prominent league tables, industry publications and legal directories for its M&A, investment funds, private equity, real estate, collateralized loan obligation (CLO) and asset backed securities (ABS) practices, including ChambersThe Legal 500, Private Equity International, Bloomberg, Thomson Reuters, IFLR, The Deal, Creditflux and Mergermarket.

Please see our Financial Services M&A 2019 Highlights for additional information on a noteworthy year.

Optimal deal structure, speed-to-market execution

Our financial services M&A lawyers work with our colleagues across the firm to provide clients with time-sensitive, full-service advice on all aspects of a transaction. Our team’s substantial expertise and deep bench allow us to call upon knowledgeable practitioners as needs arise.Our 360-degree awareness of the most common issues that arise in a deal context allows us to optimize deal structure, ensure speed-to-market execution and protect client interests in every phase of a transaction.

Clients turn to us for assistance with:

  • Mergers, acquisitions and divestitures
  • Joint ventures, collaborations and strategic alliances
  • Leveraged buyouts and management buyouts
  • Tender and exchange offers 
  • Cross-border transactions
  • Going-private transactions
  • Proxy contests
  • Special committee assignments
  • Spin-offs and lift-outs
  • Minority investments
Experience
  • Alcentra Capital Corporation, a middle-market business development company (BDC) managed by Alcentra NY, LLC, on its agreement to be acquired by Crescent Capital BDC, Inc. for US$142 million.
  • Ameriprise Financial, a financial planning and services company, in its acquisition of Grail Advisors ETF advisory business and in its acquisition of Emerging Global Advisors, LLC, a provider of emerging market smart beta ETFs.
  • ARK Investment Management, a New York-based investment adviser focused on disruptive innovation, in connection with the sale of minority interests to affiliates of American Beacon Advisors, Inc. and Nikko Asset Management.
  • Bank Audi s.a.l., the majority shareholder of LIA Insurance sal, in connection with the sale of 81% of the share capital of LIA Insurance sal to Saham Finances, a Moroccan insurance company.
  • Blackstone Tactical Opportunities Advisors, an opportunistic investing platform that invests globally across asset classes, industries and geographies, in connection with a strategic investment in Condor Trading LP and its broker-dealer subsidiary BTIG LLC.
  • CIT Asset Management on the formation of a new managed financial vehicle in partnership with an A-rated insurance company.
  • Direktna Banka, a Serbian bank, on the acquisition of Findomestic Bank. Findomestic Bank was, prior to the acquisition, part of BNP Paribas group, one of the largest financial institutions in the world.
  • EnTrust Capital, a privately-held, New York-based fund of funds, in its acquisition by Legg Mason and combination of EnTrust and Permal into a global fund of funds business.
  • Generali in its acquisition of a majority stake in Sycomore Asset Management Group, a pioneer in the Environmental, Social and Governance (ESG) and Socially Responsible Investment (SRI) segment in Europe.
  • GIC, Singapore sovereign wealth fund, in its US$27 billion sale by a consortium of Refinitiv to the London Stock Exchange Group. According to Bloomberg, the transaction was the largest private equity exit globally in 2019.
  • Further Global Capital Management, a New York-based private equity firm,  on the acquisitions of Payment Alliance International (PAI) and GBGI Limited.
  • Guggenheim Partners Investment Management, a global investment and advisory firm, in the sale of its subsidiary Rydex Fund Services, LLC to Mitsubishi UFJ Trust and Banking Corporation.
  • HFF, Inc., one of the leading providers of capital markets transactions in the US, in its US$2 billion sale to Jones Lang LaSalle - a finalist for “Financial Services Deal of the Year”, The Deal Awards 2019.
  • Hunt Companies, Inc. on a follow-on investment in UK-based Amber Infrastructure Group Holdings Limited, bringing Hunt’s ownership in Amber from 50% to 75%. Dechert also advised Hunt on its original investment in Amber in 2015.
  • Kudu Investment Management, LLC in its acquisition of a passive minority interest in First Long Island Investors, LLC, which oversees approximately $1.6 billion in assets for high net worth individuals and families. 
  • Lord, Abbett & Co., one of the oldest money management firms in the United States, in the sale of its 49% equity interest in Lord Abbett China Asset Management Company Limited, a Sino-foreign fund asset management company, to CreditEase Huimin Investment Management (Beijing) Co. Ltd.
  • Mirae Asset Global Investments, an independent asset management firm in Asia, as counsel to buyer on both the M&A and investment management aspects of Mirae’s acquisition of Recon Capital Advisers.
  • OppenheimerFunds Inc. in its acquisition by Invesco Ltd. from Massachusetts Mutual Life Insurance Company, reported in 2019 as being the largest deal in the US asset management industry since 2014.
  • Public Pension Capital and its portfolio company Viteos, a tech-enabled provider of end-to-end middle and back office administration for asset managers, on Viteos’ sale to Intertrust N.V.
  • Stifel Financial Corp. on its purchase of George K. Baum & Company, a recognized industry leader in structuring, underwriting and marketing taxable and tax-exempt municipal securities. 
  • Van Eck Global, a New York-based investment management firm, in its acquisition of certain assets of Lyster Watson Management, Inc. and Marc Freed. Also advised in its acquisition of a 60% interest in Australia Index Investments Pty Ltd., an Australian-based marketer and distributor of exchange-traded funds.

View and download our Financial Services M&A 2019 Highlights brochure

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