Deal Sheet | Short or Long?

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Hi all,

I have been requested by some recruiters to provide a deal sheet.

Just wanted to check what level of information should be provided (standard) and which deals to highlight as the level of involvement was different

Please share your best practices / experiences.

 

Thanks,

 

 

Comments (10)

 
  • Prospect in IB-M&A
Sep 7, 2020 - 3:07pm

Are you first year analyst recruiting for 2022 on-cycle?

Array
 
Sep 13, 2020 - 6:21pm

Would it be OK to include in the deal sheet:

- Sector, Ticket Size, Transaction Rationale, Main metrics, Final Outcome.... without mentioning sellers or buyers?

 

JC -- Alpha Seeker --
 
Sep 13, 2020 - 10:28pm

I've done a similar one, but in VC not PE. Mine goes:

[Deal Size / Investment Size] - [Transaction Type] - [Description of Investee Company] - [Closing Date]

  • Work done
  • Result (ex. MOIC, IRR, etc.)

Granted, if you are a PE analyst you've likely done larger but fewer deals vs what a VC analyst has done.
If I were in PE, I'd probably adapt my deal sheet and elaborate on the "Work done" section and get into pretty granular detail. 

 
Sep 13, 2020 - 10:56pm

Deal Sheet / Transaction Experience (Leveraged Finance)

Transaction Experience

Company A (Sponsor X) | NR/NR | $25MM RC / $175MM Term Loan B | M&A/Refi — Sole Lead

Company B (Sponsor Y) | B/B2 | $15MM RC / $150MM 1L Term Loan B / $35MM 2L Term Loan | Div/Recap — Sole Lead

Company C (Sponsor Z) | B-/B3 | $25MM RC / $200MM 1L Term Loan B / $50MM 2L Term Loan | LBO — Sole Lead

  • RFP, comps, UW memo, CIM & LP, organize deal site, syn. tracker, investor Q&A, funds flow, and closing procedures

Bullet (LONG - explained)

-Request for Proposal (RFP), due diligence, comps, underwriting approval memo, marketing materials (CIM & LP), manage deal site [Debt Domain, Syndtrak, or Intralinks], syndication tracker, investor Q&A, funds flow, fronting letter / settlement risk approval memo, closing memo (internal deal summary), and manage deal closing

 

Other versions (spacing issues, other ways to show)

  • Company A (NR/NR), or Company A (Sole Lead), or Company A (Sponsor)
  • Rating, Sponsor - sometimes added/excluded - rating, sponsor (spacing issues)
  • put total deal size vs. list tranches ($200 RC/1L TLB/2L TL) vs. list out ($15 RC / $150 1L TLB / $35 2L TL). IMO if you can fit all the tranche details - it's better - it's good information.
  • Date - used to add, now exclude - recently I deleted - b/c I saw a list of Wharton resumes and none listed the date. Also - if your deals are old, you won't get penalized. Keep it silent
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