How do you typically consider the investment amount in a transaction that you intend to back-lever shortly after an acquisition?
For simplicity...suppose I acquire a company/asset for $100. One month later, I get $50 of debt and return $50 to equity. Six months after that, suppose I sell the company/asset for $150.
Would it be inappropriate to calculate the MOIC on the post-levered investment (and note calculation is based on a back-levered amount)?
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