Questions on deal experience for SA interviews
I just finished my summer internship at a PE shop in Asia. I was fortunate enough to have been staffed on a live deal. However, the work I did was very minimal given the circumstances. Now, I'm preparing for 2021 IB SA roles (London) and wondering what sort of questions to expect on the deal. Note that the target operates in an extremely niche sector if that changes anything. The team is very confident the deal will close by Dec/Jan. Thank you
Bump, interested in this too
What kind of work did you do?
If it was just basic ppt work/minimal excel and you didn't touch the model, I would be very wary about breaking out the deal separately. This invites questions that you may not know how to answer - think valuation methodology, multiples, PF metrics, leverage and debt tranches for a PE deal. You may be better off just having general bullet points and mentioning light work on a live deal in later interviews, no one is expecting a sophomore SA to have closed deals. Under promise on the resume and over deliver in the interview.
Had absolutely zero exposure to financial modelling, more research work. On my resume I have mentioned the following - conducted trends analysis (on each product per price, volume, geography - all three extremely variable and inconsistent), due diligence (participated in calls with sector experts), and industry research. It is an under $10m deal, to be financed using cash - no debt involved. What do you think?
In that scenario I'd break the deal out but keep it to 1-2 lines, and very clear on what your role was (you phrased it well)
Would still expect basic questions on the valuation and metrics of the deal. You can keep this all pretty general since it's still pending/you don't have the numbers memorized, but be ready to walk through the deal at a very high level
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