Met a consultant bragging about private equity

As titled,

Met a consultant today in semi-professional settings. Dude bragged about been working on 'literally thousands of models' for private equity firms. Another PE guy chimed in, talked about secondaries, then the said consultant said something like PE firm never exit in less than 5 years and he never model companies' capital stack to allow exits, and PE firm can only exit in liquidation etc.

The PE guy face was a bit comical and seemed like he didn't bother discussing anymore and left the conversation.

Was the consultant full of sh!t? For context, the consultant called his firm 'best practice financial modelling'.

 

Imagine someone called himself 'private equity specialist consultant' said the above lol. I mean I'm not even in PE but pretty sure private markets guys still need to realize their investments through exits. 

 

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