Model test trade - infra and pe

Based on the most helpful WSO content, trading or sharing modeling tests is a common practice among candidates preparing for buyside roles. However, it's important to approach this ethically and ensure you're not violating any confidentiality agreements tied to specific tests.

For infrastructure and private equity modeling prep, here are some actionable tips:

1. Practice Infrastructure-Specific Models: Infrastructure PE modeling often involves unique elements like debt facilities, refinancing, and long-term cash flow projections. Resources like Ed Bodmer's website (https://edbodmer.com/project-finance/) and Corality (https://financialmodelling.mazars) are highly recommended for learning project finance and infrastructure modeling.

2. Leverage Networking: Many roles, especially in London and Europe, are filled through headhunters (HHs). Reach out to HHs with a clear story about why you're targeting infra or PE and your firm preferences. Networking can also help you access practice materials or insights into specific tests.

3. Prepare for Modeling Tests: Modeling tests vary significantly by fund. For example:

   • Single Asset Underwriting: Common in PE, with a focus on LBOs or infrastructure-specific cash flow models.
   • Case Studies: Some funds require a weekend-long case study where you prepare an investment committee paper backed by a model.
   • Time Constraints: Tests can range from 1-hour elementary models to 6-hour complex portfolio models.

4. Sector Knowledge: Be prepared to discuss trends in the infrastructure space and articulate which sectors you would invest in. Research reports from investment banks on 2-3 sectors can be invaluable.

5. Soft Skills: Beyond technical skills, focus on your story and how joining a specific fund aligns with your career goals. Highlight any relevant experience, such as working in RE teams or IB roles, and how it translates to infra or PE.

If you're looking to trade or purchase modeling tests, consider reaching out to peers or mentors on platforms like WSO forums. Some users, like the one in the "Q&A - Infrastructure PE & IBD" thread, have even offered to share their own recruitment modeling tests. Just ensure any exchange is done responsibly and within ethical boundaries.