LBO Modeling Crash Course
LBO modeling is the core technical skill for PE recruiting. This crash course takes you from zero to building full LBO models, including the paper LBO shortcuts that let you ace timed case studies. Includes downloadable Excel templates you can use immediately. Pairs perfectly with our PE Recruiting Playbook for complete on-cycle preparation.
Look Inside
Who This Is For
What You Get
- LBO fundamentals: how PE creates value
- Sources & uses: building the transaction structure
- Debt schedules: senior, sub, mezzanine, PIK
- Cash flow waterfall and debt paydown mechanics
- Returns analysis: IRR, MOIC, and sensitivity tables
- Paper LBO framework: solve in 10 minutes by hand
- 3 full LBO model templates (Excel download)
- Practice case studies with solutions
Sample Excerpt
"A PE firm buys a company for 8x EBITDA ($100M EBITDA = $800M TEV). They put in 40% equity ($320M) and 60% debt ($480M). If EBITDA grows to $130M and they exit at 8x in 5 years, what's the IRR? Exit TEV = $1,040M. Pay down $150M debt. Equity value = $710M. MOIC = 2.2x. IRR ≈ 17%..."
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What Readers Say
"The headhunter section alone was worth it. I had no idea CPI asks paper LBOs in their initial calls. This intel saved me from bombing my first impression."
— GS TMT Analyst, Class of 2024
"Finally, advice that isn't 'network and grind technicals.' The bank-to-fund pipeline data helped me target the right groups for lateral moves."
— MM IB Associate → UMM PE
"Coming from MBB, I thought I knew how to prep. The 'Why PE' framework completely changed my story. Got offers from two megafunds."
— Ex-McKinsey → Megafund Associate
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If this playbook doesn't meaningfully improve your PE recruiting prep within 30 days, email us for a full refund. No questions asked. We've helped hundreds of candidates—we're confident this will help you too.
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