Capstone Special Situations
What makes us different?
From distressed municipal debt to specialty telecommunications, our Special Situations team identifies unique investment and strategic ideas that fall outside of our core sectors, diving deep into the issues that focus on distressed or event-driven opportunities. This means constantly reevaluating ways to produce differentiated analysis that allows our clients to better understand regulatory pressure and legislative trends.
We live in the weeds.
In order to identify unique, non-traditional investment themes, our analysts strive to become experts on the opaque policy details. We sift through murky comment letters, proposed rules, agency publications, and legislative drafts. We also attend public hearings and visit the municipal bond issuers we cover in person in search of insight and conclusions often missed by others. Throughout our continued coverage, our analysts have built strong relationships with current and former senior officials in the United States and its territories, leading financial advisory firms, and vital members of the business community. These relationships allow us to closely track volatile situations and ensure that our coverage considers the viewpoints of those closest to the issues we cover. Capstone prides itself on digging deep to cut through the noise to provide context and differentiated insights.
- Distressed municipal debt of Puerto Rico, Detroit, and Illinois
- TXU/Energy Future Holdings Restructuring
- Merger arbitrage
- Trucking and transportation
- Product liability claims
- Net metering policies
- For-profit education
Our Latest Special Situations Insights
October 16, 2023 By Matt Wiederrecht, Capstone’s Head of Special Situations This year the US has set another grizzly record— a record no one wants, but one we believe companies and investors will have to continue to get used to. In 2023 America experienced 24 enormous...
By Matt Wiederrecht and Elena McGovern March 28, 2023 - The phrase “atmospheric river” is quickly becoming a household term among Americans this year, joining the likes of “bomb cyclone” and “polar vortex.” These and other extreme weather events, as well as (the more...
By: Matthew Wiederrecht Nothing lasts forever—a sentiment the bond market is in the process of relearning as bond yields and borrowing costs start to rise. Since the financial crisis, low-interest rates have been two sides of the same coin for companies and investors....