Axar Capital Management LP
Switching Costs, The Moat Customers Don't Notice They're Trapped By
A revenue decline and a customer defection look identical on a P&L. They are not the same event, and confusing them is...
August 19th, 2026|4 min read
The Compounders Built on Overlooked Balance Sheets
See's Candies. Nebraska Furniture Mart. Borsheim's. Berkshire Hathaway's formative deals were not famous companies....
August 5th, 2026|4 min read
H2 2026 Distressed Outlook: Elevated cost of capital, software debt in focus
We at Axar Capital are excited to see our CIO Andrew Axelrod cited in the informative 2H 2026 Distressed Outlook piece...
August 3rd, 2026|0 min read
2026 2H Market Outlook – the “Velvet Rope Market”
When we published our annual outlook in January, the defining feature of leveraged credit markets, from where Axar...
July 9th, 2026|7 min read
Active vs. Passive in Distressed Credit: Why Showing Up at the Table Changes the Outcome
Consider a scenario where a middle market company tips into distress. The capital structure is contested, the...
June 18th, 2026|8 min read
The PE Overhang: Why Sponsors Are Stuck and What It Means for Credit
Private equity has a returns problem that is not showing up in IRRs. It is showing up in distributions.
June 3rd, 2026|7 min read