Dry Creek Capital Partners

What Dry Creek Capital Partners does

Dry Creek Capital Partners is a private investment firm founded in 2020 and structured as a Colorado limited partnership (Dry Creek Capital Partners, LP), headquartered in the Denver Tech Center at 6455 S Yosemite Street, Suite 650, Greenwood Village. The firm operates a unified investment platform focused on acquiring debt obligations at discounts in two primary verticals: sub- and non-performing commercial real estate loans, and distressed corporate debt in the lower middle market and small business segment. The firm targets individual investments up to $50 million and structures deals to allow business owners and CRE stakeholders to retain operational control during turnaround execution rather than acquiring underlying assets. The investment thesis centers on value credit opportunities where acquired debt is backed by commercial real estate or business assets, with returns generated through discount acquisition, turnaround financing, and resolution or exit of investments.

The firm is led by four partners: Managing Partner Nate Cann (formerly of KPMG and Development Specialists Inc.), Partner Steve Emerson (formerly of Excelsior Capital Partners, Summit Investment Management, Dubin Clark Private Equity, and A.G. Edwards/Wells Fargo), Partner Andrew Young (11 years in distressed asset management and CRE financing), and Managing Partner Mark Ziegler (25+ years, $1 billion+ in originated and underwritten distressed investments, co-founder of Excelsior Capital Partners). The team maintains active roles in the Turnaround Management Association, including chapter leadership and global committee membership. Dry Creek operates nationally through a Strategic Partners Network providing deal sourcing coverage across most U.S. markets.

The business model is direct relationship-based principal investing. The firm sources opportunities through industry referrals, professional networks, and direct outreach to distressed business owners and CRE stakeholders. Revenue is generated transactionally through returns on invested capital rather than through recurring management or platform fees, with no publicly disclosed pricing, fund AUM, or revenue figures. The firm does not utilize traditional marketing channels and has no disclosed technology products, APIs, or proprietary platforms beyond its investment workflow.

Name

Dry Creek Capital Partners

Legal name

Dry Creek Capital Partners, LP

Website

https://drycreekcp.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Dry Creek Capital Partners is a private, Colorado-based investment firm that acquires distressed commercial real estate loans and lower middle-market corporate debt at discounts, targeting deals up to $50 million while allowing business owners to retain operational control during turnaround.

Ownership category

akta.pro rank

Product category

Distressed Debt Investment

NAICS

All Other Financial Investment Activities (52399), Other Investment Pools and Funds (5259)

SIC

Miscellaneous Business Credit Institution (6159), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Middle-Market Lending (FSANADAI)

akta.pro secondary industry

Private Credit / Direct Lending (FSAAAHAG)

Keywords

• Distressed debt investing
• Commercial real estate debt
• Special situations investment
• Turnaround capital financing
• Value credit opportunities

Headquarters

HQ city

Englewood

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Distressed Debt Investment Returns: The firm generates returns through acquiring debt obligations at discounts (sub/non-performing commercial real estate loans and distressed company debt), providing financing for turnaround plans, and realizing gains upon resolution or exit of investments.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Dry Creek Capital Partners is a private investment firm that acquires sub-performing and non-performing commercial real estate loans and distressed company debt at a discount, while also providing growth and turnaround capital to lower middle market and small businesses. The firm partners with business owners and commercial real estate stakeholders to deliver mutually beneficial resolutions, targeting investments up to $50 million across U.S. markets.

Product overview

Dry Creek Capital Partners operates as a unified investment platform offering three interconnected investment services: distressed commercial real estate debt acquisition, distressed company debt investment for lower middle market and small businesses, and special situations investing. The platform focuses on purchasing debt obligations at discounts and providing funding for turnaround plans and growth, targeting investments up to $50 million across various industries.

Differentiator

Problem solved

Functional benefit

Products and services

• Distressed Commercial Real Estate Debt Investment Platform Investment platform focused on acquiring sub-performing and non-performing commercial real estate loans and purchasing debt obligations at a discount that are backed by commercial real estate assets, for commercial real estate owners experiencing financial hardship.
• Distressed Company Debt Investment Services Investment services targeting lower middle market and small business distressed debt obligations and special situations, providing capital for turnaround plans and growth to business owners experiencing financial distress.
• Special Situations Investment Platform Platform for value credit opportunities that enables unique investment strategies and provides mutually beneficial resolutions for stakeholders in financially distressed situations, including refinancing, restructuring, and growth capital scenarios.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Strategic Partners NetworkcoreOthers · 1 January 2020Dry Creek Capital Partners benefits from strategic partners located in most markets across the United States. These partners support the firm's national operations and help identify investment opportunities in distressed commercial real estate and business debt across various geographies. The specific partner entities are not individually named in the source materials.

Scale indicators2 records

Recent moves1 record

Expansion highlights3 records

Broad incumbents

• Oaktree Capital Management: Largest dedicated distressed debt manager globally; while much larger, competes in the same distressed CRE and corporate debt categories Dry Creek targets.
• Angelo Gordon (now part of TPG): Long-established credit and special situations manager with a dedicated distressed commercial real estate strategy that competes with Dry Creek's CRE workout focus.
• Apollo Global Management (Hybrid Value/Credit): Operates one of the largest distressed and special situations credit platforms, increasingly underwriting middle-market transactions that overlap with Dry Creek's ticket size.
• Cerberus Capital Management: Major alternative manager with dedicated distressed real estate debt and special situations strategies that directly compete with Dry Creek's CRE workout focus.

Emerging players

• Brightwood Capital: Middle-market direct lender and special situations investor focused on sponsored and non-sponsored borrowers in lower middle market — comparable to Dry Creek in scale and ticket size.
• Whitebox Advisors: Independent alternative asset manager with multi-strategy credit and special situations exposure, including distressed commercial real estate debt — overlapping with Dry Creek's strategy.

Direct peers

• Encina Capital Partners: Special situations and direct lending firm focused on middle-market borrowers — closely comparable to Dry Creek in mandate and ticket size.
• Värde Partners: Global alternative investment firm emphasizing distressed credit, special situations, and real estate-related debt — overlapping with Dry Creek's distressed CRE and corporate debt strategy.
• Avenue Capital Group: Specializes in distressed debt and special situations in the middle market, sharing Dry Creek's lower-ticket approach to corporate and CRE workout opportunities.
• Marathon Asset Management: Mid-market alternative credit manager focused on distressed debt, special situations, and direct lending — directly comparable in strategy and ticket size to Dry Creek.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dry Creek Capital Partners