Introduction
Private equity interviews are some of the most rigorous in finance, and the case study is often the most challenging part. These assessments test not just your modeling skills, but your judgment, commercial acumen, and investment mindset. Whether it's an LBO model, red-flag memo, or a walk-through of a potential investment, preparation is essential. In this blog, we explain how to approach private equity case studies and stand out from the competition.
Key areas for candidates to consider include;
- Understanding the Format: You may be asked to complete a timed LBO model, analyse a CIM, or present an investment recommendation. Clarify what's expected: written, verbal, solo, or with a team.
- Mastering LBO Modeling: Practice building leveraged buyout models from scratch. Focus on key drivers like purchase price, debt structure, revenue growth, EBITDA margins, capex, and exit assumptions.
- Thinking Like an Investor: Identify key risks and opportunities, assess the strength of the management team, market conditions, and potential returns. Think about the company you are interviewing with and, the factors that specifically affect their business (not just the market in general).
- Practicing Articulating Your Thinking: You'll often need to present your findings. Focus on clarity, structure, and reasoning.
Conclusion
A successful case study shows that you’re not just technically strong—you’re commercially savvy. At Circle Square, we give our candidates case prep tailored to the firm and format they’ll face. We know what each PE house expects and ensure you’re ready to deliver a confident, investment-grade response.
