I'm currently preparing for a MM PE investment role and wanted to understand what level of complexity in the LBO model test I can expect.
Within the WSO PE guide LBO practice tests, I can get through the paper and basic LBOs fairly easily but all the detailed nuances in the 2-hour full LBO test is pretty challenging to wrap my head around (e.g. accounting for capitalized financing fees, equity tranches, granular balance sheet adjustments).
For those of you who have gone through recruiting for MM PE roles, do the full LBO model tests generally mirror the level of difficulty you've seen in your model tests?
Thanks in advance!!
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