Chapter 2

Chapter 2 of the Capital Series shifted the lens from growth to recovery, focusing on where capital moves when certainty disappears and pressure exposes real opportunity.

The session explored the realities of turnaround capital, distressed assets, and complex restructuring. Rather than theory, the discussion centered on execution. How value is unlocked when assets are mispriced, stakeholders are fractured, and operating models no longer work. Conversations were practical, direct, and grounded in experience, reflecting the high-stakes nature of recovery capital.

The panel featured Mohamed Abu El-Makarem, Managing Partner & Chairman, who addressed the structural and legal realities of complex restructurings, and Etienne van den Peereboom, Senior Partner – Head of Strategy, who brought a strategic and operational perspective shaped by decades of transformation work across sectors and geographies. Together, they examined how disciplined leadership, stakeholder alignment, and decisive action determine whether distressed situations collapse or recover.

A defining moment of the session came with the introduction of a mystery guest speaker, later revealed to be Alexander Walbridge, who offered an unexpected and thoughtful perspective from within the audience. His contribution reinforced a central theme of the discussion: some of the most valuable insights in turnaround situations come from unconventional angles and hard-earned experience.

The session concluded with a clear takeaway. Distress is not disorder. In the right hands, it is an opening. Opportunity in this market belongs to those who know how to move when others hesitate.