Hi there,
Could anyone explain how PE cases work at a high level, and/or point to resources explaining as much?
I learned recently that valuations (key to many PE case interviews) are actually the responsibility of the IB. I know PE cases are a fast and relatively well-defined sprint. I'm curious what are the different work streams and how is the work typically divided? Does this differ for buy vs. sell side?
Thanks!
Total Avg Compensation
July 2026 Consulting
Career Resources
Leaderboard
| 1 |  |
99.2 |
| 2 | |
99.0 |
| 3 | |
99.0 |
| 4 | |
99.0 |
| 5 | |
98.9 |
| 6 | |
98.9 |
| 7 | |
98.9 |
| 8 |  |
98.9 |
| 9 |  |
98.9 |
| 10 | |
98.8 |
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
"PE" work is pretty broad, but I'm happy to give a high-level overview. Generally, the "PE" practice area means you're serving PE as a client (obviously), and work happens across the entire deal spectrum.
So starting pre-deal, most of the work are in DDs. Strategy shops generally focus on the commercial and operational piece and sometimes tech. HR, legal, and financial are more the sweet spot for Big 4s. Some other pre-deal strategy projects include portfolio strategy and M&A screens (although this is more for corporate clients).
Not too much work happens in the actual deal, but sometimes we're brought in to help with deal sizing or synergy sizing
Post-deal portfolio acceleration is really where consultants generate value imo. There's a ton of portco optimization work ranging from top-line pricing, sales force effectiveness, growth strategy etc to bottom-line procurement optimization cases.
Obviously this isn't supposed to be MECE but just a high-level overview of most of the PE cases done. IMO, they're one of the more polarizing case types. You learn a ton and pick up a ton of functional knowledge, but you're basically put through the grinder (since timelines and expectations are so high) and it's all very transactional (obviously since you're working with a GP and not the actual business owner)
This is super helpful, thank you. Just to clarify - the post-deal portfolio acceleration, is that done on spec before the deal is even made? In other words, is the PE deal contingent on the consulting firm being able to identify growth levers and develop a 5-10 year plan (e.g.)?
Hic id cumque enim dolorem in aliquam. Et quo est sit ipsa et tempore consequatur. Officiis quae sapiente provident id ea. Provident ducimus non maiores exercitationem laudantium sit.
Quia modi odit dolorem animi. Nostrum est omnis molestiae porro et in. Et dolor provident dolores et amet minus quia.
Et et et laudantium quisquam tempora et consequatur architecto. Qui aspernatur est sed aperiam ut sit. Est est sit placeat. Hic vitae id veniam placeat. Culpa qui quia quia aut fugit excepturi. Maxime voluptatem nam ad nostrum.
Eveniet qui quidem et. Doloremque in non totam est provident fugit quia. Ea esse est dolorem ducimus vel recusandae voluptates sed.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...