14 Comments
 

Based on the most helpful WSO content, insights into case studies for Evercore's PCA (Private Capital Advisory) team, particularly for LP-led scenarios, are not explicitly detailed in the provided dataset. However, given the nature of PCA work, you can anticipate the following:

  1. Case Study Focus:

    • Likely centered around evaluating a portfolio of LP interests or a continuation fund.
    • You may need to assess the valuation, liquidity, and potential exit strategies for LP positions.
    • Expect to analyze fund performance metrics like IRR, MOIC, and cash flow projections.
  2. Technical Skills:

    • Be prepared to demonstrate proficiency in financial modeling, particularly around fund-level cash flows and valuation.
    • You might need to calculate and interpret key metrics relevant to LP-led transactions.
  3. Presentation:

    • You may be required to present your findings and recommendations clearly and concisely, showcasing your ability to communicate complex financial concepts effectively.
  4. Market Knowledge:

    • Familiarity with the secondary market dynamics, including pricing trends and buyer behavior, could be tested.

If you're looking for more specific preparation, consider leveraging WSO's financial modeling courses or interview prep resources, which cover relevant skills like DCF, LBO, and M&A modeling.

Sources: PCA Fee Structure: GP vs LP led, Evercore Menlo vs Lazard SF vs Greenhill SF vs PWP SF, PE case study mistakes, Tier 1 PCA/Secondary Advisory

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Think it's an attention to detail test. LP led wont be anything technical, worst case building a portfolio summary. 

 

This is incorrect. Was VERY technical. I have 2yr background in PCA LP-leds (position I was interviewing for was A2/3). Case study was focused on how a buyer would assess a deal. Think future cash flows, GP economics. Was required to build a full model and ultimately come up with IRR & MOIC value the buyer would receive. I’d advise learning GP economics and waterfall models.

 

This is incorrect. Was VERY technical. I have 2yr background in PCA LP-leds (position I was interviewing for was A2/3), I have never had to cover this in any deals. Case study was focused on how a buyer would assess a deal. Think future cash flows, GP economics. Was required to build a full model and ultimately come up with IRR & MOIC value the buyer would receive. I’d advise learning GP economics and waterfall models.

 

More quantitative than qualitative. Expect to build a water fall model based on future growth rate of the fund  and then strip out fees and factor in GP catch up.

 

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