Best Response

Get a blank sheet of excel (worth noting you might not have access to macros), pick a relatively simple (in terms of financials) public company, grab the 10-k and a research report and build an LBO from scratch. Once you can do it competently in under 90 minutes, you should be ready for the vast majority of modeling tests.

 

I recently completed a take home case study for an experienced pe associate spot at BX NYC. They provided me with the ticker for a publicly traded manufacturing company and asked me to build a model and write an investment memo. I built from scratch a very basic take private lbo model with a simple sensitive analysis for IRR at different share price premiums, and provided a summary of the business and my recommendation (good potential investment but wait for the stock price to drop a bit) via a 30 pg PPT deck. I was invited to the final round at their offices and had to present my 30 pg deck in front of two partners (they flipped page by page through entire deck). Ended up not getting an offer.

 

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