Hi guys:
I’m a career switcher into PE; I want to get better at modeling, and I’m thinking of practicing on top of my funds’ past 2nd round models. Do you think doing so will be helpful? Should I try to limit the time I get on these practices? I’m thinking I’ll just build them from a blank excel.
If I do 5-7 of these, would I be up to speed in terms of modeling skills versus a 2+2 kind of candidate?
Thank you
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I'm confused. Are you referring to 2nd round interview level models or 2nd round in a process (ie more robust and detailed)?
I’m referring to second round in a process
In that case, I'm not sure why a time limit would help much. A second round model tends to be much more in-depth and data-heavy assuming you have VDR access at that point. Typically, depending on your fund, you will have precedent models to use (and will be expected to stick with them) so maybe don't waste time building from scratch but take time understanding the mechanics and drivers. Make sure you understand what assumptions change the IRR in what manner etc. I think deleting the existing formulas etc and putting time into the forecast assumption thoughts based on the CIM / diligence materials from that particular deal will be helpful. Definitely a good idea to do so as it'll pay dividends for you down the road. Let me know if helpful
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