As an Investor what are items to look for to decide to invest debt or equity?

Hi Everyone - I will be going through PE interviews soon and some of the firms I'm looking at are growth equity / minority investors. These firms have the capability to invest via equity or debt. I was wondering what are some of the things / analysis etc that you conduct or look for when deciding which to invest with? In addition to that, what are some common / interesting covenants that you would put in place? Finally, when doing an analysis of an initial investment what are some analysis that you like to do?

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