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Welcome to MRG, the University of Michigan's premier organization specializing in restructuring investment banking and distressed debt investing.

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The Michigan Restructuring Group (“MRG”) is an undergraduate student organization at the University of Michigan. Our goal is to prepare our members for a career in restructuring advisory & distressed debt and to help our members secure competitive internships or full-time analyst positions.


We employ a detailed strategy to accomplish our goals:

  • Our weekly educational lecture series are led by senior members of MRG and are designed to provide an introduction to the key concepts and skill-sets relevant to the restructuring industry. Concepts that are covered in our series include distressed debt analysis, the bankruptcy code, corporate restructuring, special situations, and liability management transactions. We pair our educational series with distressed pitches and credit document analysis. 

  • We also offer recruitment guidance and support, which involves cover letter and resume review, structured interview preparation, and private mentorship by senior members and alumni of MRG.


The Michigan Restructuring Group was founded in 2023 by Christav Illikman (Ross '25) and Linus Epstein (Ross '25). MRG is officially registered as a student organization with the mission of providing collective learning communities for students interested in restructuring and preparing our members for careers in distressed debt. 


As sophomores highly interested in restructuring, Linus and Christav identified the lack of resources and mentorship available at Michigan throughout the recruitment process. As a result, they were spurred to create MRG to support students with exceptional technical ability and a detailed understanding of distressed debt’s combination of finance, law, and game theory. Supported by Michigan upperclassmen and alumni with experience in the field, MRG will provide members access to integrated case studies, industry experiences, and restructuring-specific professional development. A training ground in restructuring investment banking allows future alumni to branch out and create their own businesses or rise to the top in prestigious buy- and sell-side roles in financial services.


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Our alumni have found success across a variety of financial institutions in various buy- and sell-side roles. The breadth of our network often proves to be an invaluable resource for our members, contributing to our club's sustained success. The array below represents a selection of firms at which our alumni have worked.

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