Mosaic PE
Has anyone here given Mosaic PE a go for LBO modeling? On their website, they apparently have some heavy hitters like Warburg Pincus, CVC, New Mountain etc. using the product.
If you do use it at your shop, what's the verdict? Is it actually useful relative to the cost? Do you use it for just an initial sanity check or are you able to build your full model in it? If not Mosaic, do you use or are you aware of any other similar products?
Thinly veiled Mosaic sales rep
My non-anonymized account :)
we demo-ed it, 5K a seat a year. it is fine for a first cut from a CIM
That’s a wild price. Imagine paying $5k per seat, just to have your analysts / associates punch numbers in from a CIM into their pre built functional model, when it should take anyone ~30 minutes to do in excel or even faster with napkin math to pencil out returns.
Do people at firms like Warburg that use these tools really feel that much more efficient? Not to sound like a “back in my day” old man, but I feel like understanding basic LBO math is the core of this role. Any basic model should be so simple where this isn’t necessary and anything more complex would be too bespoke for a white label software offering. But I’ve never used these so I’m curious to hear other’s thoughts
There was a rareliquid podcast where an Associate from Warburg mentioned that they used it pretty extensively and they even had senior management buy-in for this. Not sure if that has changed at all though.
Just coming off my ASO yrs at a MF and I’m more of an excel vp than a pdf vp, so I can tell you, if you’re from a previous vintage even the early stage IC models now are more of a task than just quick and dirty >100 line type stuff. Yes there are templates but in general modeling just sucks and I would love a tool to help though we don’t use this — the caveat is that doing the 2yrs where all you do is model insane scenarios for clown MDs that think they are going to merge Walmart and Tesla or whatever the fuck, is I think pretty critical to develop the mentality of an effective PE VP.
Heard from friends at a MF that they don't really use it (their modelling is by far too bespoke). Sounds like their sales rep keep trying to upsell product features with little regard for if people would actually use it or not. Friends at Carlyle did a trial, didn't really like it and they didn't convert. Heard they got the early customers for super low contract values and are mostly using those big logos to scare-sell into other firms.
Super helpful color, thanks! Basically in line with what I thought. Unlike real estate where things are more standardized and you can use something like Argus, I couldn't see how a software system like this could help underwrite deals in private equity. Their pitch seems to be this makes the first cut at a CIM easier but I wasn't sold on the value-add. Why sign up for a recurring cost software and learn the ins and outs of that platform when it takes our Associates less than an hour to create an Excel model for the first iteration of an investment?
Bump given new launch video
I suspect this needs a biggg revision given their latest upgrades. Which I think underlines yet another thing: the pace of progress of these things
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