Private Capital Markets Interview
I have an analyst interview next week with the Private Capital Markets group in a MM bank. The role is focused on debt. I wanted to see if there’s any advice for me on what I should be studying. Anything helps. Thanks!
Based on the most helpful WSO content, here are some key areas you might want to focus on for your Private Capital Markets interview:
Understanding of Debt Instruments: You should have a solid understanding of different types of debt instruments, their characteristics, and how they are used in capital structure.
Deal Discussion: Be prepared to discuss deals you've worked on or studied, with a focus on the credit thesis.
Accounting Technicals: Brush up on your understanding of financial statements, cash flow analysis, and other accounting principles.
Modeling Skills: You might be asked to model an LBO, but with a focus on credit stats vs IRR/MOIC.
Market Knowledge: Be aware of the current state of the general debt market. Your bank should publish a LevFin weekly or something on relative value, just generally browse through it and see if anything catches your eye.
Credit vs Equity: Be prepared to answer questions about why you're interested in credit over equity.
Remember, the goal here is not just to show that you understand the technical aspects, but also that you're genuinely interested in the credit side of the business. Good luck with your interview!
Sources: Private Credit Interview Advice, What is Private Capital / Private Market Advisory?
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