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It highly depends on the fund. You should know how to at least do a paper LBO. Better if you can do a simple full model cleanly (sources and uses, debt tranches, etc.)
It tends to be less technically focused than bankers, the fund that I ended up signing with explicitly said “we don’t judge consultants as hard in the LBO model”, but I’m sure the same holds true for bankers during the case study
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In other words, how technical/accounting heavy are interviews at these firms? Full modeling test, just a paper LBO?
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