Portage Point Partners has named Steven Shenker Co-Head of its Turnaround & Restructuring Services (TRS) practice. Shenker will share the role with Tom Studebaker. The Chicago firm announced the change on Sept. 29, 2026, in a press release distributed by PR Newswire.
Portage Point describes itself as an advisory, consulting, interim management, investment banking and financial services firm focused on the middle market. The company says Shenker and Studebaker will lead the next phase of TRS growth.
The announcement said Portage Point continues to scale its market-leading platform. Shenker’s appointment follows his arrival at the firm in 2020.
What the Two Co-Heads Will Focus On
According to Portage Point, the new leadership pair will concentrate on four goals. They plan to extend market reach, deepen relationships across key stakeholder communities, broaden capabilities and keep attracting and developing elite talent.
“Our TRS practice has become a market-leading platform by combining premier talent, differentiated capabilities and an uncompromising execution culture,” said Matthew Ray, Founder and Chief Executive Officer of Portage Point.
Ray said Shenker has been instrumental in that growth. Ray said the leadership expansion reflects the scale TRS has achieved. It also reflects the firm’s continued investment to meet increasing demand across complex operational and financial situations. Other firms have also reshaped leadership as they scale, as seen when engineering companies move beyond founder leadership.
Shenker’s Record at Portage Point
Shenker joined Portage Point as Senior Vice President in 2020. The company says he has since led more than 50 successful turnarounds and restructurings. He has served in numerous Chief Restructuring Officer and Chief Transformation Officer roles.
Those clients include the Center for Autism and Related Disorders, Blink Fitness, TPX Communications and QC Supply. Shenker also served as Deputy Chief Restructuring Officer for Bouchard Transportation alongside Ray.
Beyond client work and origination, Shenker has shaped broader Portage Point strategy, according to the company. He has also developed talent, strengthened culture and led the cross-functional Director group. Leadership moves at other companies show similar priorities, such as an Iveco Group leadership reorganization.
Demand in the Middle Market
Studebaker said demand across the middle market continues to grow in both volume and complexity. Studebaker tied that trend to private credit taking a larger role across the capital structure.
“Steven brings exceptional restructuring judgment, operating intensity and deep connectivity across the private credit and restructuring communities,” Studebaker said. “His appointment strengthens our senior leadership capacity and positions TRS to keep delivering outstanding outcomes for clients.”
Shenker described the opportunity as significant and said the two co-heads share an ambitious vision.
“Tom and I share an ambitious vision to build on the platform’s momentum, continue adding elite senior talent, broaden capabilities and take on increasingly complex situations where Portage Point can deliver differentiated impact,” Shenker said.
About the TRS Platform
Portage Point says TRS is a leading advisor to middle market companies, boards, sponsors and lenders. The platform combines restructuring advisory, interim leadership, performance improvement and transaction capabilities in an integrated, senior-led model. The company says the model aims to protect enterprise value, create strategic optionality and drive what it calls Speed to Impact.
Portage Point says its cross-functional platform is built to identify value capture and mitigate risk. The company says it aims to positively affect outcomes at every stage of the middle market business lifecycle.
Its listed offerings include transaction advisory services, valuations and transaction execution services. They also include office of the CFO, performance improvement, interim management, investment banking, operational turnaround and financial restructuring.
The firm’s team draws on experience in consulting, operations, finance, accounting, investment banking and investing. Executive hires remain common across growth-focused firms, as with UpSwell Marketing’s executive appointments.
Frequently asked questions
Who did Portage Point name Co-Head of Turnaround & Restructuring Services?
Portage Point Partners named Steven Shenker Co-Head of Turnaround & Restructuring Services, alongside Tom Studebaker.
When did Shenker join Portage Point?
Shenker joined Portage Point as Senior Vice President in 2020, according to the company.
What will the new co-heads focus on?
They plan to extend market reach, deepen relationships across key stakeholder communities, broaden capabilities and keep attracting and developing elite talent.
