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Based on the most helpful WSO content, Oaktree's modeling tests are generally consistent across teams. For a role like Opportunistic Credit, you can expect the following:
Short-form LBO Model: This is a common requirement in Oaktree's modeling tests. Be prepared to build a simplified leveraged buyout model, focusing on key metrics like IRR and MOIC.
Operating Model: You might need to construct an operating model, which could include advanced components like tax schedules, deferred tax liabilities (DTL), and other detailed schedules beyond the basic three financial statements.
Credit Analysis: Since this is for an Opportunistic Credit role, expect to analyze industry risks, company-specific risks, and how the company compares to its comps. This could involve assessing the creditworthiness of a deal and identifying potential risks.
Time Management: With only 1.25 hours, the test will likely focus on your ability to work efficiently under time pressure. Practice building models quickly while maintaining accuracy.
To prepare, consider reviewing WSO's LBO Modeling Course and Financial Statement Modeling Course, as they provide the foundational skills needed for such tests.
Sources: Credit Analyst Q&A, Credit Analyst Q&A, Oaktree Modeling Test /Case Study, Evercore lateral interview: what to expect in terms of questions and modeling test?, Q&A: Credit Analyst (Multi-Strat Credit Fund) >$5bn Fund
Also curious about this! 1.25 hours is quite tight for a modelling test.
Bump
Quick disclaimer: I don’t know the actual Oaktree test.
But given the short time I would expect some more simplified model. Usually to test your understanding on S&U, Cap Structure and Forecast.
Cash Flows are usually simple with maybe a somewhat tricky debt schedule incl. PIK / cash option, maybe a RCF drawing and repayment just to test some technical aspects.
As said, I don’t know this one but this is what I would prepare for given short timeframe and usual focus of firms.
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