Advice for Sr IBD Associate Starting in PE

Based on the most helpful WSO content, here are some actionable recommendations to prepare for your transition to the buyside as a Senior IBD Associate:

1. Accounting and Financial Modeling Refresher:

   • Courses: WSO offers a range of financial modeling courses, including DCF, M&A, LBO, and Comps modeling. These are taught by experienced private equity professionals and are highly recommended for brushing up on technical skills.
   • Templates: Utilize the 27 financial modeling templates available in the WSO swipe file to practice and refine your skills.

2. Commercial and Vendor Due Diligence (CVDD):

   • Reading: Dive into WSO threads discussing due diligence processes. For example, the "Due Diligence - Most common deal killers or reasons for negotiating a reduction in price" thread provides insights into deal dynamics and negotiation tactics.
   • Practical Tips: Focus on understanding the diligence process from both buy-side and sell-side perspectives. This includes analyzing financial/commercial/legal documents and preparing for ad-hoc analysis.

3. Networking:

   • Coffee catch-ups are a great idea. Leverage your existing network and reach out to professionals in London or NY who have made similar transitions. WSO forums are also a good place to connect with others in the industry.

4. Recommended Reading:

   • Books: "Venture Deals" by Brad Feld and "The Business of Venture Capital" are excellent resources for understanding deal structuring and value creation.
   • Articles: Explore WSO's best forum content for insights into private equity interview prep and buyside recruiting tips.

5. Practical Advice:

   • Modeling Practice: Since you mentioned not modeling much in the last year, prioritize hands-on practice. Use WSO's free modeling lessons to get back into the groove.
   • Behavioral Prep: Prepare for the cultural and operational differences on the buyside. WSO's private equity interview bootcamp can help with both technical and behavioral preparation.

6. Additional Resources:

   • WSO Bootcamps: Consider the Private Equity Interview 1-Day Bootcamp for a deep dive into LBO tests and case studies.
   • WSO Community: Engage with the WSO forums to ask questions and learn from others who have successfully transitioned to the buyside.

By focusing on these areas, you'll be well-prepared for your new role in private equity. Good luck with the transition!

Sources: RE Debt | Managing the due diligence process, Roadmap for IBD Coverage Associate to Career Banker, Due Diligence - Most common deal killers or reasons for negotiating a reduction in price?, 7 Practical Buyside Recruiting Tips for IBD Analysts, Healthcare IBD - Summary & Resources