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Axial Radar: The Distressed Debt Opportunity

Axial Radar

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Happy Friday and welcome to another edition of Axial Radar!

We all know that past performance is not necessarily indicative of future results when it comes to investing (cue the fast talking commercial legal disclaimer). A look back at the performance of crisis-era debt fund vintages, however, makes a pretty compelling case for investors considering distressed debt opportunities in 2020.

Recent data from Preqin shows that distressed debt funds launched in the first three years following the dotcom recession had the highest median net IRRs in the last 20 years. Similar patterns of IRR outperformance in distressed debt were also recorded following the great financial crisis of 2008. Head down to this week’s featured Industry Trends section of Radar to read more about some of the leading indicators of the distressed debt opportunity unfolding in the Covid-economy.

Our featured buy-side members this week include a defense focused PE firm led by decorated Veterans and finance professionals, the direct lending platform of a major US financial institution, and a 20+ year old Chicago-based PE firm. On the sell-side we’ll introduce you to a Calgary based M&A advisory firm and an advisory firm representing business owners throughout Dallas-Forth Worth and Texas.

Click here to follow Axial on LinkedIn and stay up to date on the latest trends in the world of Lower Middle Market deal making.


Featured Members

Donovan Capital

Donovan Capital Group
​​​​​​Private Equity Firm

Donovan Capital Group (DCG) is an investment firm that makes non-control structured equity and mezzanine debt investments in lower middle market companies that work with (or want to work with) the U.S. Government. Through the firm’s unique relationship with the U.S. Department of Defense and Intelligence Community, DCG adds value by financing and accelerating the growth of commercial companies into the government channel. DCG was founded by entrepreneur and former attorney, Claudio Ochoa. Mr. Ochoa previously served in the government in a variety of functions, including in the U.S. State Department, Central Intelligence Agency (CIA), The White House, and the Republican National Committee.
View Profile

Kainos Capital

Whitehorn Merchant Capital
M&A Advisory Firm

Whitehorn Merchant Capital Inc. is an independent Calgary, Alberta based business advisory firm. Whitehorn specializes in advising business owners through sales, financings, acquisitions, and management buyouts. The firm was co-founded by seasoned business advisors, Gregory Quinn and Andrew Tavender.
View Profile


Alliance Bernstein Private Credit Investors
Senior Lender

AB Private Credit Investors is the middle market direct lending platform of AllianceBernstein. AB Private Credit provides flexible financing solutions to corporate borrowers and manages capital for a diversified group of institutional and high net worth investors.
View Profile

FTI Consulting

DBG Advisors
​​​​​​M&A Advisory Firm

DBG Advisors is a Business Brokerage/Mergers & Acquisitions firm based in Richardson, Texas. The company, led by L. Nolan Duck, serves business owners throughout Dallas-Fort Worth and Texas. DBG Advisors exclusively represents sellers of lower middle-market manufacturing, distribution and service companies with $10M to $150M in revenue.
​​​​​View Profile

FTI Consulting

High Street Capital
​​​​​​Private Equity Firm

Founded in 1997, High Street Capital is a Chicago based private equity firm, dedicated to finding differentiated companies and fundamentally improving them. The firm has significant investment and operational experience in a wide range of industries, including business services, manufacturing, distribution and logistics, healthcare services, marketing, and various digital verticals.
View Profile

Not an Axial Member yet?

This week from
Middle Market Review

Creating Favorable Deal Structures in Times of Uncertainty
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Reinventing Patient Care in the Dermatology Industry (Virtual Q&A)
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Building an Unbeatable Culture — A Conversation with the Founder of Star Mountain Capital
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Axial’s LMM Deal Digest: September Edition
Read More


Industry Trends

What We Can Learn from Crisis-Era Distressed Debt Returns

Distressed Debt

Source: Preqin

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