So for color, I have made it to the modeling and case study stage of a PE (MF) associate process. I am looking for color on what to expect from an in person 2+ hour case study.
I have completed a 48 hour take-home and a 60-min model exam, two ends of the spectrum but not anything in person. I have been prepping with the basic LBO models in the WSO course, is there a chance it is as advanced as the full LBO?
Just trying to wrap my brain on what I need to do to fully prepare. Thanks!
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Hey there! It sounds like you're gearing up for a pretty intense case study session. Based on the most helpful WSO content, here's what you might expect:
The case study could indeed be as advanced as a full LBO. It's great that you're prepping with the basic LBO models in the WSO course, but I'd recommend also familiarizing yourself with more complex scenarios.
The in-person case study will likely test your ability to think on your feet. You might be asked to build a model, analyze a potential investment, or present a recommendation.
The case study could cover a variety of sectors. As a generalist, you might be working on deals in the software, healthcare, and business services verticals simultaneously.
The firm will be looking for structured thinking and the ability to come up with good questions. They'll want to see how you think about the investment and what your recommendation is.
The time commitment can be significant. You might be expected to pull together a model and short deck over a weekend, or work 100+ hours in the weeks leading up to an IC meeting.
Remember, the goal of the case study is to see how you think and how you handle pressure. So, keep your cool, show your work, and don't be afraid to ask clarifying questions. Good luck!
Sources: Q&A: Lower Middle Market PE Associate -- Ask Me Anything, Q&A: 2nd Year Associate at a MM Private Equity Fund, Private Equity Recruiting Walkthrough – My Experience, Interviewing for a SA or Analyst position? Here's what I'd want to hear as a VP.
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