Pari Passu Premium

Pari Passu has now published over 150 writeups over the last 3 years of evergreen content. If you want to unlock the entire archive only, the Pari Passu Plus tier is recommended. Note: Pari Passu Plus subscribers only unlock write-ups older than 6 months.

In the archive, you will be able to sort our writeups by:

• Type of Writeup

  • Deep Dive

  • Technical Lesson

  • Other

• Restructuring Type

  • In-Court

  • Out-of-Court

  • Liquidation

• Industry

  • Industrial

  • Tech, Media & Telecom

  • Consumer & Retail

  • Energy / Power

  • Healthcare

  • Financials

• Key Sponsor Involved

  • Angelo Gordon

  • Apollo

  • Ares

  • Clearlake

  • HPS

  • KKR

  • Macquarie

  • Oaktree

  • Platinum Equity

  • Searchlight

  • Vista

Given the depth of our content, the vast majority of our paid subscriber are able to have their firm (or school) cover the subscription fee.

Given the depth of our content, the vast majority of our paid subscriber are able to have their firm (or school) cover the subscription fee.Given the depth of our content, the vast majority of our paid subscriber are able to have their firm (or school) cover the subscription fee.Given the depth of our content, the vast majority of our paid subscriber are able to have their firm (or school) cover the subscription fee.Given the depth of our content, the vast majority of our paid subscriber are able to have their firm (or school) cover the subscription fee.Given the depth of our content, the vast majority of our paid subscriber are able to have their firm (or school) cover the subscription fee.Find below an email you can send your COO / Manager to ask for a refund.

[Approver],

I hope you are doing well. I am writing to request [reimbursement / approval] for my subscription to Pari Passu. Pari Passu is a newsletter focused on restructuring and other advanced finance topics. The annual subscription costs $399. A paid subscription will provide me access to the following three resources:

• Restructuring transaction analysis: Published weekly, the typical Pari Passu writeup exceeds 5,000 words and 30 proprietary sources. Recent editions include Oaktree's Takeover of Inter Milan and Eye Care Leaders' Unconventional Chapter 11 process

• Premium deep dives: 3 monthly deep dives written on a must-know timely topic. Recent editions cover Oregon Tool LME and Thames Water Ongoing Restructuring

• Archive and training library: A subscription also unlocks access to all historical published work and a portfolio of 10+ training resources from top financial and law firms, including case studies, primers, and handbooks 

I have diligenced peer publications and believe Pari Passu is distinguished by the following three qualities:

• First to the frontier topics: Pari Passu is often the first to cover emerging transactions and concepts, leading the conversation instead of following it. For example, their Triple Dip writeup is the first result on Google, and there are no comparable articles nearly one year later

• Institution-grade depth: Their deep dive on the Saks Global Restructuring leads the market in terms of coverage comprehensivity. While other publications spotlight one facet of the situation (e.g., vendor payments, tariffs, one-off payments), Pari Passu is the only source that has provided end-to-end coverage on the company’s financial trajectory, drivers of distress, and new financing transactions

• Masterful translation of complexity: Pari Passu bridges technical complexity and real-world relevance. For example, their analysis of the Ardagh-Apollo Deal provides a top-down explanation of hunter-gatherer liability management transactions and anchors this concept with an in-depth case study of its most infamous application in Europe

This subscription will enable me to deliver sharper insights today and a more informed and forward-thinking perspective in the future, directly supporting my professional development and delivering enhanced value to our team.

I appreciate your consideration of my request and look forward to hearing from you.

Best,
[Your Name]

We provide all-encompassing coverage of the most consequential restructuring transactions. We sought to do this in a bottom-up manner that caters to a wide range of financial and legal professionals while maintaining the technical rigor that is typically gated by expensive corporate subscriptions.

See here recent examples of our work:

• A Sharp Turn: Oregon Tool’s Post-Serta LME

• Thames Water - 3 Part Series

• Silicon Carbide’s Champion Stumbles: Wolfspeed’s Path to Bankruptcy

• One Identity, Five Tranches: The Quest Software LME

• Saks Global 2025 Saga

• Hunter-gatherer LMT

• Zips Car Wash, a Quick Private Credit Chapter 11

• First HVAC Roll-Up to File for Chapter 11 

I started the Pari Passu Newsletter because I wanted to share my passion for the field. I was lucky enough to attend a target school and become a restructuring analyst, and over time, I have started to realize the unfair advantage I had.

This drive folder wants to do a small thing to make things fairer.

Restructuring is a niche field, and getting access to resources is not easy. I have collected the 10+ decks with hundreds of pages, which I wish I had when learning about restructuring.

Note: If you want to get access to the folder before upgrading to premium, you can also do so by sharing the newsletter with two friends. Entirely for free.

You need to be a subscriber and be logged in order to share the newsletter - subscribe here. Note: signing up with another of your addresses will ban you from ever getting access to the drive.

Sample Slides

To give you an idea of the type of content in the above files, please see below a few slides that you might enjoy.

Given that many of our readers use our research in an institutional investing context, we provide detailed sources and references for our writeups so you can leverage our work and save time.

On average, our writeups include ~30 sources (with specific references in text).

In addition, you also have the ability to request any model printouts you see in the writeup.

We get it. Ads are annoying.

This is why we allow our Research subscribers to enjoy a completely ad-free experience.

If at any time during your first month your firm is not satisfied with the product, we will refund you 100%. No questions asked. Note: this applies only to corporate subscriptions.