Paper LBO Template
The exact framework and cheat sheet used by candidates who landed offers at megafunds in 2025-2026 on-cycle recruiting. Solve any paper LBO in 10 minutes.
Paper LBO Template
Free Download
Get the printable PDF with the 5-step framework, IRR cheat sheet, quick math shortcuts, and 3 practice problems with solutions.
What's in the Template
Paper LBO Framework
The exact 5-step process to solve any paper LBO in 10 minutes or less
IRR Cheat Sheet
Memorize-ready table: MOIC to IRR conversion for 3, 4, and 5-year holds
Quick Math Shortcuts
Rule of 72/114/144 and compound growth approximations
3 Practice Problems
Real paper LBO prompts with full solutions and explanations
Full Playbook
Need More Than the Free Template?
The Paper LBO Playbook turns the template into a full timed system: worked examples, mental math shortcuts, return bridges, and practice drills for PE case screens.
View the Paper LBO Playbook, $49IRR Cheat Sheet Preview
Memorize this table. It's the fastest way to convert MOIC to IRR in your head.
| MOIC | 3-Year IRR | 4-Year IRR | 5-Year IRR |
|---|---|---|---|
| 1.5x | 14% | 11% | 8% |
| 2.0x | 26% | 19% | 15% |
| 2.5x | 36% | 26% | 20% |
| 3.0x | 44% | 32% | 25% |
| 3.5x | 52% | 37% | 28% |
Quick Reference: Rule of 72
Years to double = 72 ÷ IRR. So 15% IRR ≈ 4.8 years to 2x.
The full template includes Rules of 114 and 144 for 3x and 4x.
Get Your Free Paper LBO Template
Join 5,000+ finance professionals preparing for PE recruiting.
Paper LBO Template
Free Download
Printable PDF with framework, IRR cheat sheet, and practice problems.