PE Prep

Hi folks I interviewed with more than 10 firms (30+ interviews) over the last 18 months for a position in PE. I finally landed a role in a mega fund a couple of months back.

I realised as opposed to consulting / investment banking - there are fewer resources to help people prepare.

What would people preparing for PE like to know? Case studies, mock interviews, technical questions, etc.?

7 Comments
 

Based on the most helpful WSO content, here are some key areas people preparing for private equity (PE) interviews should focus on:

  1. Fit Questions:

    • Why private equity?
    • Tell me about yourself.
    • Walk me through your resume.
    • What makes you a good teammate?
    • What are your strengths and weaknesses?
  2. Case Study:

    • Typically involves analyzing a Confidential Information Memorandum (CIM).
    • Create a two-page memo summarizing the important parts of the CIM, analyzing pros and cons.
  3. Deal Experience:

    • Be prepared to discuss the deals on your resume in detail.
    • Understand every facet of your deals, including why the company would/would not be a good buyout target, relevant deal metrics, and Porter's Five Forces.
  4. LBO Modeling:

    • Be proficient in Leveraged Buyout (LBO) modeling, both theoretically and conceptually.
    • Practice walking through paper LBOs and case studies.
  5. Technical Questions:

    • Similar to investment banking prep but with a focus on PE-related technicals.
  6. Behavioral Questions:

    • Prepare stories that effectively portray you as a good teammate, problem-solver, and go-getter.
    • Ensure your resume aligns with these stories.

For more detailed preparation, consider using resources like WSO's free Private Equity Resume Template and the free LBO Modeling Test available on their site.

Sources: Private Equity Interview Questions - 13 Topics to Know, Private Equity Interview Questions - 13 Topics to Know, Private Equity Recruiting Walkthrough – My Experience, Private Equity Recruiting Process (From Banking), https://www.wallstreetoasis.com/forums/anyone-willing-to-share-a-pe-interview-case-study?customgpt=1

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
  1. How much variance was there between processes? I.e., to the other commenters point, did you have business style case studies?
  2. Were the case studies broadly straightforward? What is the challenge here, the time constraint or having to think about assumptions, operating model, returns / financing structure?
  3. What were the non-case study interviews focussed on? Technicals, competency, questions to probe ability to think like an investor? How did they probe and how did this progress through to more senior firm members?
 

1. Would love to know how you developed a framework to tackle case study portions. Framework as in how you thought about a company, it's position, its industry. Any helpful resources?

2. Did you prepare a specific industry to be knowledgeable about in case it came up in an interview?

3. Did you prepare companies you liked to talk about in an interview? How many? 

4. It seems like you have a consulting background, so could you point towards any consulting resources that might have helped in your preparation?

 
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