Dechert plans to open an office in Dublin, making it one of a handful of international law firms to establish a presence in Ireland and the first major onshore transatlantic funds practice to do so in Dublin.
The office will focus on advising investment funds, their investment managers and other fund service providers.
Ireland has become a major centre for investment funds because of favourable tax treatment, regulatory structures, expertise of local service providers and appeal to investors concerned about sound regulatory oversight.
Declan O’Sullivan (pictured), who previously led the alternative investment practice at Irish firm William Fry, has joined Dechert in Dublin to lead the practice. Three further financial services lawyers have been hired in Dublin as associates and a full recruitment process for other talented legal professionals is under way. An additional partner appointment is expected shortly.
"Many billions of dollars are invested annually in investment funds and each fund must make complex decisions about where to locate based on tax, regulatory, market and structural considerations. With our deep resources and extensive experience evaluating the interplay of these factors across key global centres, we can help clients make such decisions with speed, economy and confidence," says Peter Astleford, co-head of Dechert’s global financial services and investment funds practice. "We want to help our clients in every significant onshore funds jurisdiction."
O’Sullivan’s work involves advising domestic and international clients in the establishment and authorisation of all types of investment funds including Ucits, hedge funds, property funds and private equity fund products. In addition, he represents many fund service providers, including investment managers, administrators, custodians and prime brokers.
O’Sullivan’s recent industry involvement includes being a former chairperson of the Alternative Investments Committee of the Irish Funds Industry Association, a member of the industry’s task force on the Alternative Investment Funds Managers Directive and a member of the European Commission Expert Group on Open Ended Real Estate Funds.
