RX Lateral Case Study - Lazard / Greenhill London

Based on the most helpful WSO content, here are some insights to help you prepare for RX case studies at Lazard and Greenhill:

1. Case Study Format:

   • RX case studies typically involve analyzing a distressed company and presenting a restructuring solution. This could include evaluating financial statements, understanding debt structures, and proposing strategies for creditors or debtors.
   • Expect to work on a mix of qualitative and quantitative tasks, such as creating a debt waterfall, assessing recovery rates, or drafting a high-level presentation.

2. Time Management:

   • With a 3-5 hour window, prioritize your time effectively. Allocate time for:
     • Reading and understanding the case materials.
     • Performing financial analysis and calculations.
     • Preparing a concise and clear presentation.

3. Key Skills to Demonstrate:

   • Technical Proficiency: Be ready to showcase your ability to analyze financials, understand debt structures, and calculate recoveries.
   • Strategic Thinking: Highlight your ability to propose actionable solutions tailored to the stakeholders' needs (creditors, debtors, or equity holders).
   • Communication: Present your findings clearly and confidently, as communication is critical in RX roles.

4. Firm-Specific Notes:

   • Lazard: Known for its historic RX franchise, particularly in NYC and Chicago. Their RX-specific program in Chicago is highly regarded. Be prepared to discuss their notable deals and demonstrate an understanding of their approach to restructuring.
   • Greenhill: Their RX group has been growing, with a focus on flexible mandates across deal sizes and stakeholder types. Highlight your adaptability and ability to handle diverse scenarios.

5. Preparation Tips:

   • Review past RX deals by both firms to understand their style and focus areas.
   • Practice building debt waterfalls, recovery analyses, and restructuring proposals.
   • Familiarize yourself with common RX terms and concepts, such as DIP financing, cramdowns, and liquidation analysis.

6. Additional Resources:

   • If you have access to WSO's RX guides or case study prep materials, use them to refine your technical and presentation skills.
   • Consider reaching out to alumni or professionals in RX for mock case studies or advice.

Good luck with your case studies! RX roles at Lazard and Greenhill are highly competitive, but with thorough preparation, you'll be well-positioned to succeed.

Sources: Why You Should Consider Restructuring – Common Misconceptions/Insight on RX Groups, Why You Should Consider Restructuring – Common Misconceptions/Insight on RX Groups, barclays vs. greenhill RX for private equity, Request for Restructuring League Tables 2018