International firm Dechert got its start in Philadelphia but the New York office is their largest in the United States. Though the firm is active in financial and corporate law, its funds work has generated the most recognition as a top-tier practice. Dechert also has notable restructuring and insolvency, private equity, real estate, M&A, capital markets and banking practices. In real estate, the firm represented domestic clients in a mixed bag of roles including mortgage loan sellers and guarantors, issuers, collateral managers and syndicated lenders.