In a field as complex as distressed investing, success rarely comes down to technical ability alone. It requires trust, curiosity, and the ability to navigate ambiguity as a team. This year at the Oaktree Capital Distressed Investing Conference in Los Angeles, McIntire fourth-years Arjun Jagannathan, Zach Marshall, and Max Rudikoff demonstrated those necessary skills, taking first place in Oaktree’s 2026 Future Leaders Program Credit Case Challenge.
Zach Marshall
For Zach, the moment carries great significance. “Winning this year’s Oaktree competition is incredibly meaningful to me. It was definitely a rewarding way to close out my time at McIntire,” he says.
Max Rudikoff
Max sees the win as both exciting and affirming. “It really provided us with positive feedback on all of the work that we have been doing,” he says, noting how their earlier experience pitching a distressed investment in QVC helped prepare them for analyzing the case under a tight timeline. “These two pitches were very different, but overall, I think it really shows the in-depth and exciting opportunities of electives within McIntire.”
Arjun Jagannathan
For Arjun, the experience was important both academically and personally. “It feels like the culmination of four years of learning, both in and out of the classroom,” he says. “More than anything, it reflects the relationships I have built.”
That sense of connection was central to their success. As Zach explains, “Arjun, Max, and I have done almost everything together over the past two years in McIntire, and that foundation has created a high level of trust and respect.” Arjun adds that their edge came from pairing “rigorous bottom-up analysis grounded in business fundamentals” with open, honest debate.
Each of them arrived at distressed investing through a mix of curiosity and experience. Zach was drawn in by its complexity and steep learning curve, while Max found his interest through the Alternative Investment Fund student org and its Special Situations group. “Distress always stood out to me for many of the same reasons it has stood out to my peers: legal complexities, game theory, focusing on downside protection, and an ability to create alpha through control or creativity,” Max says.
Arjun describes the field as uniquely interdisciplinary. “It sits at the intersection of finance, law, and negotiation, where outcomes are shaped not just by numbers, but by structure, timing, and decision-making under uncertainty,” he says.
Beyond academics, all three played key roles in student organizations like the UVA Credit and Restructuring Club and the Alternative Investment Fund, helping build a strong learning community while mentoring younger students. That emphasis on collaboration and giving back shaped their experience as much as any class.
Faculty mentorship also proved essential. Courses like Professor David C. Smith’s Corporate Restructuring & Distressed Investing and Professor Felicia Marston’s Advanced Corporate Finance helped sharpen both their technical and analytical thinking.
Marston captured their strengths: “It is no surprise to me they won the competition. I can’t imagine anyone else had a chance,” she insists. “All three of these young men are absolutely stellar students and were very thoughtful contributors to class discussions. What is even more remarkable to me, however, and what may not be obvious in a case competition, is their humility and the respect and gratitude that they afford others despite their many talents. It is these fine character traits, coupled with a keen intellectual curiosity, that truly distinguish them in my view.”
As they look ahead to careers in restructuring and credit, their mindset remains focused on growth. “I realize how much there is to learn in this field,” says Zach.
If their experience offers any takeaway, it is simple. Stay curious, lean on the people around you, and go deeper than what is required. It is a formula that carried Arjun, Zach, and Max to a national win and one that will likely continue to serve them well.
