From a PE perspective, what materials help you vet a deal opportunity quickest from bankers and/or advisors?
One page-teasers (financial highlights, team, basic company info, etc), CIMs, etc etc. Curious to see different perspectives on the long(er) CIMs that are sent out from time to time.
What kinds of questions do you ask when you talk to the CEO? Just ask them about their viewpoint for the next 5-10 years of where the business is going, or do you have specific go-to questions?
Banked deals: CIM and market study with market size, trends, etc. Call with management if it's remotely interesting but I'm at a sector-focused fund so we know relatively quickly.
Proprietary deals: Overview presentation, financial model, industry reports and hour+ call with management / seller.
Echoing this 100%, although financial model is still important to my firm on banked deals and going through that will come before mgmt. call.
It's a fair point. I feel like on the first call, we usually ask more high level questions (i.e. why rev dip in 2016, why margin contraction in 2018, etc.) and save the more detailed financial discussion for a bit later.
None. I prefer there to be no banker or advisor pretending he knows what I want getting in the way.
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