In this episode of Cloud 9fin, distressed debt reporter Ayden Crosby and editor Rachel Butt sit down with Jamie Sprayregen, vice chairman of global strategy and growth at Hilco Global, for a grand tour through 2025’s hottest topics in distressed credit and the restructuring world.

We asked Jamie about his views on a number of 9fin’s favorite themes, including how AI is disrupting the market, the rise of ABS deals from stressed issuers, tussles between sponsors and creditors, the impact of tariffs, and his takeaways from the rapid downfall of First Brands.

Episode 49: Morningstar initiates coverage of ALTS!