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Private Equity Course
Private Equity Associate Resume Database
North American Pre-MBA Associate Resume Drop
1. Introduction and Private Equity Course Overview
Course Introduction (0:59)
Study Plan (1:05)
Course Material Download
Support FAQ
2. Private Equity Recruiting
Introduction to Private Equity Recruiting (0:22)
Overview of Private Equity (5:06)
Paths to Private Equity (3:46)
On-Cycle Recruiting Overview (8:04)
On-Cycle Recruiting Timeline (4:14)
Preparing for the Recruiting Process (4:55)
Dealing with Headhunters (4:24)
Headhunter Process (5:29)
Private Equity Headhunters and Coverage (4:16)
Off-Cycle Recruiting Overview (3:59)
Finding Off-Cycle Opportunities (2:45)
Evaluating Firms to Work For (4:48)
What is a Mega Fund? (2:39)
The Typical Private Equity Interview (4:41)
3. LBO Theory and Modeling (Sources & Uses / Financial Model)
Introduction to Sources & Uses / Financial Model (0:24)
Walking Through an LBO (3:35)
Public Company Enterprise Value Build (2:30)
Options & Private Company (3:31)
Sources & Uses (Debt) (4:31)
Sources & Uses (Equity) (2:17)
Sources & Uses (Uses) (4:04)
3 Statement Model (2:42)
Operating Model (2:08)
Free Cash Flow and Balance Sheet (1:37)
Net Working Capital and Other Balance Sheet Items (3:40)
Purchase Accounting (5:46)
Goodwill (6:57)
Excel Walkthrough of Goodwill (7:43)
Goodwill FAQ (4:37)
Closing Balance Sheet (2:00)
Knowledge Assessment I
Knowledge Assessment I Answers
4. LBO Theory and Modeling (Debt Schedule / Returns Analysis)
Introduction to Debt Schedule / Returns Analysis (0:19)
Debt Schedule (4:02)
Revolver (8:29)
Waterfall (1:09)
PIK Interest (2:26)
Internal Rate of Return (IRR) (6:45)
Multiple of Money (MoM) (1:07)
Returns and Sensitivities (2:54)
Preferred Stock (4:29)
Dividend Recapitalization (3:17)
Add-On Acquisition (2:29)
Knowledge Assessment II
Knowledge Assessment II Answers
5. Paper LBOs
Introduction to Paper LBOs (0:22)
The Paper LBO (2:29)
Rule of 72 (2:00)
Paper LBO #1 (4:26)
Paper LBO #2 (7:27)
Paper LBO #3 (6:19)
Paper LBO #4 (4:00)
Paper LBO #5 (6:38)
Paper LBO #6 (11:07)
Paper LBO #7 (16:33)
6. LBO Model Tests
Introduction to LBO Model Tests (0:27)
Balance Sheet and LBO Model Checks (4:33)
LBO Model Test Overview (2:34)
LBO Level 1 Instructions (2:34)
LBO Level 1 (Part 1) (8:45)
LBO Level 1 (Part 2) (10:51)
LBO Level 2 Instructions (2:41)
LBO Level 2 (11:34)
LBO Level 3 Instructions (2:22)
LBO Level 3 (12:49)
LBO Level 4 Instructions (3:56)
LBO Level 4 (Part 1) (11:42)
LBO Level 4 (Part 2) (7:39)
LBO Level 5 Instructions (4:28)
LBO Level 5 (Part 1) (10:37)
LBO Level 5 (Part 2) (12:03)
7. Advanced Private Equity Modeling
Introduction to Advanced Private Equity Modeling (0:21)
Commitment Fee (3:23)
Mandatory Debt Repayment (6:28)
Building Case Functionality (15:24)
Original Issue Discount (OID) (3:57)
Rollover Equity (11:10)
PIK Interest Tax Deductibility (4:53)
Last Dollar In Multiple (LDI) (3:17)
Excel Custom Formatting (4:28)
Proceeds Waterfalls (Part 1) (7:35)
Proceeds Waterfalls (Part 2) (11:40)
8. The Private Equity Business Model
Introduction to the Private Equity Business Model (0:22)
Private Equity Business Model (3:14)
Auction and Proprietary Deals (3:49)
Auction Deal Process (2:57)
Business Diligence (2:36)
Fund Structuring (6:57)
9. Case Studies
Introduction to Case Studies (0:33)
What's in a Good Investment? (3:17)
The Case Study Format (3:47)
Operating Leverage (4:29)
Porter's Five Forces Model (6:43)
The Cash Conversion Cycle (4:18)
Where to get Case Studies (2:37)
10. Case Study Walkthroughs
Introduction to Case Study Walkthroughs (0:17)
Case Study Examples (1:18)
a. Case Study (Tupelo) - 60 Minute Model (48:18)
a. Case Study (Tupelo) - 30 Minute Memo (20:08)
b. Case Study (Bristol) - 80 Minute Model (49:03)
c. Case Study (PGT) - 10-K Model (63:30)
c. Case Study (PGT) - 10-K Memo (24:38)
d. Case Study (Moonstone) - 10-K Model (76:05)
d. Case Study (Moonstone) - 10-K Memo (16:07)
11. Walk Me Through Your Deal
Introduction to Deal Walk-Throughs (0:26)
Deal Preparation (5:34)
Deal Math Questions (1:30)
Preparing a Deal Summary (2:18)
Deal Walkthrough Example (6:18)
12. Grab Bag Preparation
Introduction to Grab Bag Preparation (0:25)
Qualitative Preparation (1:55)
Opinions and Views to Prepare and Follow-up Questions to Ask (3:12)
Revenue Churn Build (5:34)
Free Cash Flow Yield (2:25)
Unit Economics (6:26)
13. Course Conclusion
Course Conclusion (0:24)
Additional Reading
Private Equity Certificate (1:38)
Refer a Friend to Get My PE and IB Resumes
Referral Instructions
Give Peak Frameworks a Shout Out
Shout Out and Private Equity Course Survey
The Paper LBO
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