What We Do
Ridger Capital’s special situations practice covers transactions that fall outside standard mandates:
- Distressed Note Transactions. Buy-side and sell-side advisory on individual non-performing loans, sub-performing loans, and loan portfolios — including commercial real estate, asset-backed, and corporate debt instruments.
- Recapitalizations. Capital structure realignments addressing covenant pressure, near-term maturity walls, or shareholder liquidity in companies with workable underlying economics.
- Rescue & Bridge Capital. Time-sensitive capital placements for issuers facing liquidity events, refinancing gaps, or transaction timing pressure.
- Distressed M&A. Sale or acquisition of operating companies, divisions, or asset packages under financial duress or expedited timelines.
- Non-Core & Carve-Out Divestitures. Sale of business units, real estate, or asset pools that are non-core to a parent’s strategy or impaired within an otherwise healthy enterprise.
- Loan-to-Own & Strategic Note Acquisitions. Advisory on acquiring debt positions with the intent of equity conversion, control, or asset access.
- Real Estate Workouts. Recapitalization, restructuring, and recovery transactions on impaired real estate assets, coordinated with Ridger Group where the underlying asset requires brokerage or project-level execution.
- Cross Border Complexities. Providing global, end-to-end advisory and capital markets solutions for companies and their stakeholders facing capital constraints, geopolitical dynamics, and complex or unconventional structuring environments.
Our Approach
Special situations reward speed, discretion, and structural creativity. Our practice is built around those characteristics.
- Partner-led execution. Mandates are managed by a managing director from engagement through close, without delegation to junior teams.
- Speed. Compressed timelines are the norm. Materials, outreach, and counterparty engagement are sequenced to match transaction urgency.
- Discretion. Tight information protocols, NDA-gated outreach, and controlled disclosure across all process phases.
- Structural creativity. Capital stacks, transaction structures, and consideration mechanics tailored to the situation — including earn-outs, contingent consideration, seller paper, structured equity, and hybrid debt-equity instruments.
- Integrated platform. Real estate, project-level, and operational support coordinated across Ridger Capital, Ridger Group, and Ridger Global where the transaction touches multiple disciplines.
Counterparty Universe
Special situations transactions draw from a different capital base than traditional growth or M&A mandates. Ridger Capital maintains relationships across:
- Distressed and special situations private equity funds
- Private credit and opportunistic credit managers
- Loan-to-own and control-debt investors
- Note buyers and NPL portfolio acquirers
- Family offices with opportunistic capital allocations
- Real estate opportunistic and value-add funds
- Bridge and transitional lenders
- Strategic acquirers seeking distressed entry points