Private Equity case studies, worked step by step

Cases
100
Traced to a firm
59
Topics
12
Hard
30
Topic
All topicsGrowth equity and software8Returns attribution and value creation8LBO modelling tests9Screening and ranking businesses9Distressed and special situations7Private credit and direct lending9Paper LBOs10Real estate and infrastructure8Portfolio operations and exits6Deal structuring and pricing9Fund, LP and portfolio analytics7Commercial and market cases10
Level
AnyWarm upCoreHard
Source
AnyReported at a firmStandard
Showing 1–10 of 20 · filtered from 100Clear filters
  1. 005Consulting-style case: should the fund invest in a pest control business? Structure your answer across market, company, returns and risks.Screening and ranking businessesWarm upAdvent InternationalNew York · 2021
  2. 007A credit fund is asked to lend Rs 180 crore against hangars and tooling appraised at Rs 260 crore. What is the loan-to-value on an appraisal basis and on a forced-sale basis, and is the loan covered?Private credit and direct lendingWarm upPrivate credit
  3. 011Five-minute paper LBO: a logistics company bought at 10x EBITDA of Rs 50 crore with half debt, EBITDA reaches Rs 80 crore, Rs 120 crore of debt is repaid, exit at 10x. What are the MOIC and IRR, and where did the return come from?Paper LBOsWarm upTPGSan Francisco · 2015
  4. 013Simple DCF for an invented coatings business: free cash flow of Rs 50 crore growing 8% for five years, 4% terminal growth, 12% discount rate. What is the enterprise value, and how much of it is terminal value?Screening and ranking businessesWarm upHPS Investment PartnersNew York · 2025
  5. 020Evaluate a fund's portfolio and present its metrics: six deals with cost and current value, two below cost and one at 5x. Compute gross multiple, loss ratio and concentration, and say what an LP would ask.Fund, LP and portfolio analyticsWarm upTPGSan Francisco · 2026
  6. 028A warehousing borrower has Rs 60 crore of cash available for debt service and pays Rs 45 crore a year. The lender's floor is 1.25x DSCR. How much more can it borrow on a 7 year amortising loan at 10%?Private credit and direct lendingWarm upOaktree Capital ManagementLos Angeles · 2025
  7. 029Pitch a company in two minutes: a 300 store pharmacy chain with 9% same store growth and an 11% EBITDA margin. Structure it as thesis, returns, risks and what would make you wrong.Growth equity and softwareWarm upTPGBeijing · 2014
  8. 033A laundry chain wants to enter a new city with three stores at Rs 1.2 crore of fit-out each. Each store handles 150 orders a day at Rs 250 with a 40% contribution margin and Rs 35 lakh a year of fixed cost. Is the entry worth it, and when does it pay back?Commercial and market casesWarm upAdvent InternationalBoston · 2021
  9. 044A growth fund invests Rs 200 crore for 25% of a cloud kitchen company with a 1x non-participating liquidation preference. What does the fund receive at exit equity values of Rs 500, 800 and 1,500 crore, and at what value does converting beat the preference?Deal structuring and pricingWarm upGrowth equity
  10. 049Fill the blank lines of a sources and uses template: enterprise value Rs 900 crore including Rs 200 crore of existing debt to refinance, fees of Rs 25 crore and Rs 20 crore of minimum cash funded at close. Sources are a Rs 450 crore term loan, Rs 150 crore of notes and sponsor equity. What is the equity cheque?LBO modelling testsWarm upCarlyle GroupNew York · 2023

Company names and figures are illustrative.