L/S Case Studies

Hi, I'm looking to make the move from London BB IBD to a L/S HF.

I am struggling to get my head around the typical format of a case study for a role like this (appreciating that firms will always have their own styles). If it makes any difference am more interested in funds with a 3-5y investment horizon, rather than shorter term traders such as P72. Would be particularly interested in whether you would be expected to run a quarterly/semi/annual model, whether you literally just run a DCF off the P&L (plus capex, WC etc.) or would need to do a full three statement model, and whether it is typically done at the HFs offices or done as a take-home case study?

Many thanks in advance for your help!

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