What We Cover
Financial Restructuring
Financial restructuring is the process of reorganizing a company’s capital structure in response to financial distress, with the overarching goal of reducing its debt burden and improving go-forward liquidity. This often involves negotiating new credit terms with lenders, converting debt to equity, or raising new money in increasingly creative ways. These transactions involve both debtor- and creditor-side mandates and take place in both out-of-court or in-court settings.
Credit Investing
Credit investing broadly refers to the process of deploying capital into a company’s debt structure, in return receiving interest payments and potential capital appreciation. In a distressed context, savvy investors target companies facing financial and/or operational challenges, in which debt instruments trade at a discount to face value. By providing rescue financing, purchasing loans in secondary markets, or negotiating restructurings, credit investors can influence outcomes and capture upside as businesses stabilize and recover. This strategy demands deep analysis of capital structures, underlying collateral value, and creditor rights to identify attractive opportunities and mitigate downside risk.
How We Do It
Education
With an eye to preparing UVA students for careers in credit and restructuring, CRX hosts weekly meetings to teach the fundamentals underlying these roles. Meetings cover topics including valuation, credit markets, capital structure, restructuring case studies, and more.
Whether it be providing students with learning resources, advising them through recruiting, or answering questions during general body meetings, CRX stays ahead of the curve.
Mentorship
Our most valuable resource is our people. Having successfully gone through the recruiting process, 3rd and 4th years in the club are knowledgeable about the nuances of credit and restructuring. They are more than willing to guide younger members through the recruiting process by providing preparation materials, conducting mock interviews, and simply sharing what they know. Mentoring underclassmen is what CRX was founded on.
Networking
We understand the importance of learning straight from the source. CRX hosts information sessions, networking events, and guest lectures with some of the best firms and brightest individuals in the industry.
As market conditions sustain the supply of credit and companies increasingly look to private markets, it is no surprise that both private credit and restructuring are growing industries. Firms are turning more readily to undergraduate talent to drive this growth, and CRX strives to place UVA students in the forefront.