Restructuring & Private Credit Advisory

An experienced resource
for borrowers and lenders.

Direct, hands-on advisory for lenders, sponsors, and borrowers navigating problem loans, liquidity stress, and complex capital structures — led by nine years managing distressed and performing credit inside a $50B private credit platform.

The capital stackclick a layer
Lead Practice

Restructuring & Workouts

Independent, robust management of problem credits — from the first covenant breach to a closed resolution.

  • Problem loan workouts and turnaround planning
  • Insolvency / administration processes, incl. cross-border
  • DIP and rescue financing structuring
  • Settlement negotiation with lenders, guilds, and courts
  • Sale processes and asset disposition strategy
Supporting Practice

Private Credit & Portfolio Advisory

Structuring and monitoring work for borrowers, lenders, and sponsors who want an experienced eye.

  • Credit facility underwriting and structuring
  • Asset-based and cash flow facilities
  • Entertainment & media production finance
  • Ongoing portfolio monitoring and covenant review
  • International / cross-border ABL structures

Representative engagements

Details anonymized where confidentiality applies.

Manufacturing / UK

Cross-border administration, automotive components

~£300mm-revenue manufacturer entered UK administration. Worked daily with court-appointed administrators to run a sale process, protecting jobs for 150+ staff, and negotiated a bilingual settlement with a non-lender-friendly German procurator over ~$50mm of collateral rights.

Repaid in full, including all interest and fees
~£95mm recovered
Entertainment finance / LA

Production financing facility, from underwriting through workout

Lead portfolio manager for a ~$121mm production financing facility — underwriting, insuring, and financing a season of a globally distributed TV series on a ~$52mm production budget. In the face of severe liquidity issues, ran the workout directly: cut exposure by roughly half, funded incremental capital ahead of a bankruptcy filing, and negotiated settlement terms with the writers, actors, and directors guilds alongside the company's investment bank and restructuring advisor. The company was ultimately sold to a public company.

Resolved via sale
~$121mm facility
Public company

Syndicated facility, DIP through Chapter 11, and exit from bankruptcy

Lead portfolio manager of a broadly syndicated $400mm revolving credit facility to a public company with roughly $2B in annual revenue. Ran the credit through the company's Chapter 11 process, negotiating and executing a debtor-in-possession facility to carry it through to reorganization. Upon exit from Chapter 11, underwrote, negotiated, and executed a new revolving credit facility with the borrower and continued to manage post-closing with substantially less exposure, due to effective borrowing-base negotiation.

~$400mm facility
Other Experience

Across the portfolio

Beyond the engagements above, credit work spanning skilled nursing facilities and hospitals, food distributors, entertainment, clothing manufacturers and sellers, waste management, construction companies, franchisees, oil and gas, and more.

Four stages, in order

01

Assess

Independent read on the credit, the collateral, and what each stakeholder values.

02

Stabilize

Protect liquidity and keep counterparties — lenders, guilds, courts, administrators, sponsors — at the table while a path gets built.

03

Negotiate

Structure the resolution — sale, settlement, refinancing, or rescue facility — to achieve your goals.

04

Close

Execute the agreed path to completion, with the documentation and coordination that a clean close requires.

Nathan Pratt

Nine years at MidCap Financial, a middle-market lender managed by Apollo Global Management, working private credit from underwriting through workout. Primary credit contact for 25 relationships totaling roughly $1B in commitments across asset-based, cash flow, entertainment, real estate, franchise finance, and 2nd lien facilities — with a specialty in taking the difficult ones through to resolution.

FirmMidCap Financial (Apollo Global Mgmt.)
TenureJul 2016 – Jan 2025
Book managed~$1B / 25 relationships
EducationB.S. Finance, Univ. of Miami
Based inSanta Monica, CA

The relationship comes first

Going independent means the relationship is directly with me — no book of competing interests, no committee between the advice, and full alignment between myself and the client on next steps.

I've sat across the table from sponsors, borrowers, management teams, insolvency administrators, foreign procurators, and labor and union guilds. All stakeholders are important in a workout, and I'll manage the relationships directly.

Start a conversation

Whether it's an early covenant issue or a facility already in distress, an early conversation costs nothing and usually narrows the options fast.

Email — nathanmpratt@gmail.com
Phone — 301-830-3407
Based in Santa Monica, CA — engagements nationwide