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Other

NVR Deep Dive, From Chapter 11 to a 1,000 Bagger

Jan 24, 2025

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13 min read

NVR Deep Dive, From Chapter 11 to a 1,000 Bagger

How a failed business became one of the best compounders ever

Consumer & Retail

Jan 17, 2025

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9 min read

Serta is Back, Baby

The 2020 Transaction, Permissibility and Litigation, Indemnification of Uptier Litigation, 5th Circuit Review, Credit Language and LME Implications

Deep Dives

Jan 10, 2025

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10 min read

The Downfall of Rite Aid (RAD)

Overview of Rite Aid, Signs of Distress, Alternatives to Chapter 11, 2.0 Plan, 363 Asset Sale of Elixir, and many more topics

Healthcare

Retail Pharmacy: Deep Dive, Headwinds, and Distress

Jan 3, 2025

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14 min read

Retail Pharmacy: Deep Dive, Headwinds, and Distress

Key Players, The Unit Economics of a Pharmacy, Comparison of Business Models, Factors Behind Financial Distress, Solutions to Address Liquidity Crunch

Personal

Dec 27, 2024

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17 min read

2024 Pari Passu Year-End Letter #2

Behind the Scenes of your Favorite Newsletter, Key Stats, Best Posts of 2024, and Fun Facts

Other

The 2024 Distressed Investing Conference

Dec 20, 2024

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11 min read

The 2024 Distressed Investing Conference

After all, more business is won by framing advisory as “we have some ideas that will allow you to reconstitute your balance sheet with willing participants” as opposed to “hire us because we are the best at helping you hand the keys to creditors.”

Other

Dec 13, 2024

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12 min read

Sonos ($SONO) Deep Dive

Started with a simple idea: to make it easy for people to listen to any song in any room of their home without hassle. Evolved with a fascinating example of flywheel.

Deep Dives

Dec 6, 2024

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9 min read

The Rise and Fall of SunPower (SPWR)

From a meme stock short squeeze to even the auditor throwing in the towel, the story of SunPower does not lack heat. Let’s dive in.

Tech, Media & Telecom

Software Primer, what Everyone Must Know

Nov 29, 2024

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10 min read

Software Primer, what Everyone Must Know

After all, software companies can go bankrupt. This is everything you need to know to get smart on this sector.

Other

Whole Business Securitization, a Pocket of Financing Opportunities

Nov 22, 2024

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11 min read

Whole Business Securitization, a Pocket of Financing Opportunities

Out Private Credit, In Whole Business Securitization. What makes this type of financing different and why is it fueling some of the largest buyouts of the year?

Industrials

The Infamous Hertz Restructuring, Who Laughs Last Laughs Best

Nov 15, 2024

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15 min read

The Infamous Hertz Restructuring, Who Laughs Last Laughs Best

An abrupt pandemic-driven bankruptcy, audacious equity raise, and the legal complications of “make-whole” fees.

Other

A Company Built in Founder Mode, Airbnb Deep Dive

Nov 8, 2024

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14 min read

A Company Built in Founder Mode, Airbnb Deep Dive

Built in Founder Mode: From a Weird Idea to Paying Rent to Becoming a Verb

Tech, Media & Telecom

Pluralsight, the Restructuring Deal of 2024 (Special 100th Edition)

Nov 1, 2024

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13 min read

Pluralsight, the Restructuring Deal of 2024 (Special 100th Edition)

A cocktail of restructuring, private equity, and private credit. Let's enjoy the 100th Pari Passu Edition

Technical Lesson

Cooperation Agreements, Overview and Effectiveness in Restructuring Situations

Oct 25, 2024

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23 min read

Cooperation Agreements, Overview and Effectiveness in Restructuring Situations

Today, we will shift focus to how creditors have responded to LMEs. Until now, creditors had no choice but to watch sophisticated sponsors handpick a select few who would receive preferential treatment. Distrust ran through messy, unorganized capital structures. But what if creditors could defend themselves as a unified group?

Other

SoFi Deep Dive, Revolutionizing Loan Underwriting

Oct 18, 2024

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13 min read

SoFi Deep Dive, Revolutionizing Loan Underwriting

Challenging the status quo. In this edition of Pari Passu, we’ll delve into the story of SoFi, the firm that disrupted legacy financial service providers with its unique approach to data analytics.

Learn More

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NVR Deep Dive, From Chapter 11 to a 1,000 Bagger

Serta is Back, Baby

The Downfall of Rite Aid (RAD)

Retail Pharmacy: Deep Dive, Headwinds, and Distress

2024 Pari Passu Year-End Letter #2

The 2024 Distressed Investing Conference

Sonos ($SONO) Deep Dive

The Rise and Fall of SunPower (SPWR)

Software Primer, what Everyone Must Know

Whole Business Securitization, a Pocket of Financing Opportunities

The Infamous Hertz Restructuring, Who Laughs Last Laughs Best

A Company Built in Founder Mode, Airbnb Deep Dive

Pluralsight, the Restructuring Deal of 2024 (Special 100th Edition)

Cooperation Agreements, Overview and Effectiveness in Restructuring Situations

SoFi Deep Dive, Revolutionizing Loan Underwriting

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