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Mackinac Partners finds growth opportunity in looming distress

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Eliza Ronalds-Hannon Bloomberg - With the Federal Reserve signaling that it's prepared to increase interest rates, investors are anticipating a new wave of distressed debt triggered by higher costs of capital. Turnaround specialist Mackinac Partners is seeing that bet — and raising it. Seeking a bigger footprint in one of the few corners of Wall Street where job prospects have improved since the financial crisis, the Bloomfield Hills-based firm is beefing up its financial advisory business, opening new branches in

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