Andrew Milgram

Andrew Milgram, founder of Marblegate Asset Management, dives into the nuances of distressed investing in the middle market. He discusses the consequences of the K-shaped economy, where small firms struggle as larger entities thrive. Milgram shares his fascinating journey with NYC taxi medallions and stresses the importance of active engagement and negotiation in distressed assets. He also sheds light on niche investments, the emotional challenges of investing, and the need for transparency in the industry, emphasizing collective responsibility in addressing economic disparities.

Andrew Milgram, Managing Partner and CIO of Marblegate Asset Management, shares his journey in distressed investing with insights from his firm, which focuses on middle-market opportunities. He delves into the intricacies of valuation, sourcing, and due diligence, enriching the discussion with examples from Education Management Corporation and New York Taxi medallions. Milgram also reflects on the state of distressed investing today and the ethical considerations essential for balancing financial returns with responsible practices.

Andrew Milgram, managing partner and CIO at MarbleGate, is a middle-market distressed investor who leads hands-on operational turnarounds. He discusses MarbleGate’s direct-investing model, how embedded operations teams and clearer decision processes speed capital turns. Topics include loan documentation pitfalls, liability management exercises, sector avoids like retail and tech, and lessons from First Brands.