Dechert hires Travers Smith's Kay for funds practice

Kay joins from Travers Smith, where he spent more than 25 years advising both PE firms and institutional investors. He was made partner in 2008.

He has experience in fund formation work across a range of PE investment strategies, according to a statement. Kay also works on GP-led secondaries, carried interest and co-investment agreements, and fund liquidity solutions.

Dechert co-chair Mark Thierfelder said in the same statement that advising asset managers, PE firms and financial institutions across all business areas, including fund formation, is "central to the firm's strategic focus".

Dechert has more than 185 lawyers in its investment management team globally and the firm advises more than 300 PE and private investment clients, according to the same statement.

Last year, the firm's private funds team advised firms including Apollo, Barings and StepStone Group, according to its Global Private Equity Practice 2022 Highlights report.

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