IB vs. PE LBO model

I am doing an LBO model as a project for my internship in IB and most of the the courses from WSP or models are based on PE LBO deals. Are there any differences between doing an LBO model in IB vs. PE in items to include or should I use the same model templates? do they use earnings waterfall, management equity, sponsor equity, cash on cash, etc. in IB as well? anything to add or subtract? I am still learning as I model so this might be a stupid or obvious question to some of you...