Dechert has said it closed out the summer with a series of significant financial services M&A transactions totaling more than US$30 billion.

"Busy Fall"

“Our corporate and financial services groups were very busy throughout the summer working with clients on merger and acquisition activity within the financial services sector,” said Adam Rosenthal, a partner in Dechert’s corporate and securities practice who focuses on financial services M&A. “We are looking forward to a busy fall and continuing to bring our expertise in both the financial services sector generally, and our M&A expertise more specifically, to bear for our clients across the industry.”

Transactions

The series of transactions Dechert advised on over the summer includes: GIC in the proposed US$27 billion sale of Refinitiv by a consortium (consisting of Blackstone, an affiliate of GIC, Canada Pension Plan Investment Board and Thomson Reuters) to The London Stock Exchange; Alcentra Capital in its agreement to be acquired by Crescent Capital BDC, Inc., which established a top-15, externally managed, publicly traded BDC with over US$500 million of net assets and a portfolio in excess of US$900 million at close; CIT Asset Management on the formation of a new managed financial vehicle in partnership with an A-rated insurance company; 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; OHA Investment Corporation on its agreement to merge with and into Portman Ridge Finance Corporation, resulting in a combined company with total assets of approximately US$372 million and net asset value of approximately US$181 million; 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; and, Stifel on its acquisition of the public finance operations of George K. Baum & Company, involving George K. Baum’s business structuring, underwriting and marketing municipal bonds.