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About Us

Pari Passu started as an in-depth newsletter on restructuring, credit, and distressed debt. Each edition breaks down one real company and its restructuring story in detail.

This course builds on that work. We turned those cases into a clear, structured program so you can learn how real deals are done and think like a restructuring and credit professional.

Established

2023

Posts

100+

Readers

24.000+

Sponsor

Three tracks inside the Masterclass

Tech, Media & Telecom

+4

FinThrive: Collection Issues
LockSimple

Jun 5, 2026

•

27 min read

FinThrive: Collection Issues

How Clearlake’s RCM rollup turned into a potential double LME

Consumer & Retail

+3

Hostess Brands: The Pension Liability That Ate Twinkies
LockSimple

May 29, 2026

•

24 min read

Hostess Brands: The Pension Liability That Ate Twinkies

Understanding the Role of Multi-Employer Pensions in Hostess’s 2012 Chapter 22

Tech, Media & Telecom

+5

Ivanti Software: A Compromised Platform
LockSimple

May 22, 2026

•

28 min read

Ivanti Software: A Compromised Platform

How a catastrophic cyber attack led to a $3bn software LME

Siris Capital

+4

Newfold Digital: Domain Expired
LockSimple

May 15, 2026

•

23 min read

Newfold Digital: Domain Expired

How $570mm in sponsor dividends and competitive disruption led to a $3.5bn LME

Platinum Equity

+4

LifeScan: Too Hard to Turn Around
LockSimple

May 8, 2026

•

24 min read

LifeScan: Too Hard to Turn Around

How Platinum Equity's turnaround plan for a legacy medical device company ended up as a debt-to-equity swap

Industrials

+4

United Site Services: A Royal Equity Flush
LockSimple

May 1, 2026

•

25 min read

United Site Services: A Royal Equity Flush

How a $4bn portable bathroom continuation vehicle didn’t go as planned

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Our Goal

At Pari Passu, our goal is to make complex restructuring and distressed credit easier to understand. We know what it feels like to see important deals happening, but not have clear guidance. Our aim is to help anyone learn this world — as long as they’re willing to put in the work.

Stay Updated with the Newsletter

We publish deep-dive breakdowns of real restructurings and distressed deals, so you can clearly follow the key moves, structures, and documents that matter.

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Why Trust us &
Stay connected

We’ve been sharing analysis and commentary for years. Each year, we publish a detailed annual letter reflecting on the restructuring landscape:

For a more personal take on our journey and perspective, here’s another “About Me” note.

Our core content will always live here, but if you’d like to see how conversations evolve across platforms, you can also connect with us:

Pari Passu Newsletter

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Pari Passu

Restructuring, credit, and distressed debt insights from a hedge fund analyst and former restructuring banker

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