Dechert LLP, the Philadelphia law firm, said Wednesday that it will open an office in Dublin, focusing on advising investment funds, their investment managers, and other fund service providers. Because of its favorable tax treatments and regulatory structures, Ireland has become a major center for investment funds.

Dechert said Declan O'Sullivan, who previously led the alternative investment practice at the Irish firm William Fry, has joined Dechert in Dublin to lead the practice. Three additional financial-services lawyers have been hired in Dublin as associates

The new office marks Dechert's entry into the Irish market. The firm currently has 19 offices in the United States, Europe and Asia.    - Chris Mondics