Buyout vs Growth Equity Case Study at PE Fund
Hi guys
I'm about to go for a case study interview at a large PE fund in Asia. For context, Over in Asia most PE funds do both growth equity and buyouts (a lot of founder led businesses)
I was told that the case comprise two parts (i) whether they should invest and (ii) whether they should do it via a buyout or minority stake investment via growth equity for a public company
The case is three hours, and the expectation naturally includes a three-statement model and a short IC memo.
I just wondered how would you model to include a comparison of both an LBO and growth equity case, given the limited amount of time available? Unsure about how the three-statement should flow, or if it should be two separate outputs etc.
Would greatly appreciate some insights from the more experienced here
They're essentially the same model but one without debt (growth equity) and less equity (which has obvious implications for control, exposure, ability to win the deal etc.)
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