In general, how long is your groups CIM writing process?
I know this takes into account your junior team size and some uncontrollable factors like data requests. If you want to put into context how many other analysts are on the team, feel free to
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It varies a lot from project to project.
On an “standard” sell side engagement with 5 members in the deal team (1AN, 1 ASO, 1 VP, and 2 directors) it should take between 3 and 5 full weeks - assuming the client has all the data ready (which is rarely the case), but I have seen cases in which it took nearly 8 weeks to get the CIM ready.
On the other side, I have seen a very extreme case in which a team got a full 45 pages CIM ready in less than 2 weeks, as the PE firm who hired my bank was pushing very hard. However there were 4 juniors working on that CIM (2 analysts and 2 associates).
It usually takes this long because during those weeks you not only work on the CIM, but simultaneously you also have to put together a 2/3 pages teaser, come up with a solid buyers list (if the asset is not very big, that list could have over 50 names), search for the contact details of the key people at each buyer), and liaise with lawyers to get the NDA’s ready.
Are some of these people product groups?
As a VP, I'd be pissed at having one director above me on a transaction let alone two. Even as an associate, I can't remember a time where I had both a VP and a director on the same transaction.
Like weeks and v156 status
I personally felt like it was always more than a month to grow from a blank PPT to a finished product - probably closer to 2 months.
Probably a month to get a 90% done draft, but I personally always had companies that took forever to review, MDs would always chew it up at the end, etc.
Like someone else said, you also aren’t usually heads down on a CIM with nothing else happening. You’re doing the model and all the other process crap that is super time consuming and the CIP is just one item to crank on.
I've only done 3. 2 took 6-8 weeks, and the other one took 4 months. I wanted to rip my hair out by the end.
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