So a buddy of mine is interviewing with the Infratructure Private Equity team of a large insurance company (team has invested in airport, solar energy company recently) and has a modelling test next week (he made it past the first round). He's in project finance for a large bank and deals a lot with renewables, infrastructure, power type assets.
Given his knowledge/background of project finance, so of the debt side of things, the team head told him to brush up on the equity side of things for the modelling test, which should take 2-3 hours (it's a take home model).
Just wanted to get your advice: what kind of things should he look out for and be mindful of when he prepares for the test? given his background and what might come up?
Thanks a ton!