LMM PE how much modelling?
I don't really like modelling. Would like to know how much modelling is involved in LMM PE, and how it detailed is it? Do you really model every fucking small detail?
I don't really like modelling. Would like to know how much modelling is involved in LMM PE, and how it detailed is it? Do you really model every fucking small detail?
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As with all comments relating to LMM PE, YMMV. In my experience at a very small LMM shop, there are what I would describe as "tiers" of modelling.
Again, this is one anecdote and the theme of LMM PE is that every shop is different. You probably need to clarify in interviews / networking to see how your target firms manage it.
I would generally say LMM PE probably tends to be even worse in modeling the details. Meaning because a company is smaller and you tend to have more access to direct owners / management team / sellers, and the likelihood that it's an unbanked deal, the chances of analysis paralysis tends to be higher than UMM / MF. At some point, if you go deep enough into ultra LMM, then this ends up reversing, because at that point, the companies you're dealing with are so unsophisticated they're not likely to have the data needed to allow you to model with deep granularity. But I assume you weren't asking about those types of funds.
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