I've heard that LevFin does less pitching and more execution, but at the same time, I've heard people say LevFin doesn't really do much modeling. I thought execution involved more modeling? Could someone help me understand? Thanks!
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when you work on a buy side M&A deal - you help the buyer build his model, usually. When you work on a sell side - you might put together a sell side model (usually a lot less complex)
When you work on a financing - there are two instances where you might build a model - syndication model to share with lenders (this is a very simple LBO) - model for internal credit processes including several sensitised cases; this one is usually the most modelling you do
On the latter - typically industry teams do the operating model and Levfin teams link this to their LBO model. In some banks, industry teams hold the pen on both the operating and LBO model. This is what they mean with modelling vs not modelling
The reality is that even for the teams who model, it is usually not very complicated modelling.
hope that’s helpful
Thanks a bunch!
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