Applying to role after not getting it last year?

Hi all, so around a year ago I applied to an associate role at a private credit shop while I was a sell side analyst. Got along with the team and made it through a couple rounds but wasn’t super prepared for the case study so wound up not getting an offer. Ended up taking an associate role at another solid PC firm where I’ve been for the last year.

I saw the first firm is hiring for an associate role again, so wanted to see if people thought it’s worth going at it again, figuring I have a year on the buyside under my belt and could breeze a similar case study this time, or if they’d hold it against me because I didn’t get an offer the first time around. Thanks!