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.

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Learn how restructuring bankers analyze, structure, and execute deals using real transactions.
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See how credit investors source, underwrite, and size special situations and distressed trades.
Get Special Sits Program
Build the credit models and LME skills to quickly understand risk, recovery, and outcomes.
Get Credit & LME Program
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.

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