Dechert is a global, full-service firm with 900 lawyers globally and 160 lawyers in the London office, which opened in 1972. The firm is particularly noted for its lender-side banking and mid-market finance work, with strong capabilities in private credit. Recent hires from Orrick have added strength to Dechert’s structured finance offering, particularly in CLO work. The firm advised on over 90 CLO deals in 2024 with total deal value exceeding US$39.5 billion.
Key clients
Alcentra, Apollo Asset Management, Ares Management Limited, Baring Asset Management, Bank Audi, Bentley System, BlackRock, Blackstone, Estancia Capital Partners, Exiger Limited, Gemcorp Capital Management, GIC, Graham Partners, KKR, Metric Capital Partners, MidEuropa, Warwick Capital Partners
Highlights
Dechert’s debt, equity and M&A teams advised Ares Management on the sale of DCS Holdings Group by way of a merger between the Daisy Group and the Wavenet Group. Wavenet is worth over GBP 1 billion after the merger, with Macquarie as the largest individual shareholder. The deal closed in June 2024.
Dechert advised the Kingdom of Bahrain on the issuance of US$1 billion 7.5% Notes due 2036 and US$1 billion Trust Certificates due 2031 under its Global Medium Term Note Programme and Trust Certificates Programme. The joint lead managers for both tranches were Citigroup Global Markets, Emirates NBD Bank, First Abu Dhabi Bank, HSBC Bank, J.P. Morgan Securities, National Bank of Bahrain, and Standard Chartered Bank.
Dechert advised Barings on the structuring and launch of Barings inaugural Euro Middle Market CLO 2024-1 DAC, a market-first transaction. The CLO, valued at €380 million, was backed by a portfolio of European middle-market senior secured loans and rated by S&P and Fitch.
Personnel Changes
In June 2025, Dechert added a four-lawyer team from Orrick, led by Sushila Nayak and James Jirtle to bolster capabilities in CLOs, securitisations and private debt. Nicholas Tomlinson joined as a partner in the corporate department from Gibson Dunn in February 2025.
Dechert added Linklaters’ high yield and US securities finance partner Colin Chang to its capital markets team. Partner Anthony Lombardi joined the team from DLA Piper in October 2024.
Leveraged finance duo Philip Butler and David Miles, who previously co-led Dechert’s global leveraged finance practice departed the firm for Mayer Brown in July 2025. Private equity partner Mark Evans also joined Mayer Brown that month.
Testimonials
“Dechert are private credit specialists, with an impressive client roster including Ares Management” - Private credit
“Sam Kay is a very capable lawyer specialising in private equity funds work” - Private equity funds
“Dechert have had a strong hedge fund practice for many years” - Hedge funds
“Dechert is a reputable firm with high-quality lawyers” - Private equity funds
