LP Secondaries Modelling
I have noticed a lot of high quality content from people who work in PE secondaries and thought I'd ask this question. How does the modelling process work for LP secondary trades and how does that differ for a 1 or 2 fund portfolio compared to a 40 or 50 fund portfolio? Is the modellingor is their some kind of propreitary system that can do a lot of the analysis in an automated manner?
I have a friend who is very dissatisfied at his current shop since his "modelling" consists of inputting rev growth, margin improvement andconversion of underlying companies into a "financial engine" that the secondaries firm built in-house. This system then automatically flows the cash flows into the right waterfall and . Dude's bummed that he's learning very little about companies and getting almost no real modeling experience.