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 21–30 of 30 · filtered from 100Clear filters
  1. 066A direct lender is offered a Rs 350 crore unitranche at 11% with 5% annual amortisation to a bearings maker earning Rs 90 crore of EBITDA. Can the loan be serviced and repaid if EBITDA falls 20%, and what cover does the lender have each year?Private credit and direct lendingHardPrivate credit
  2. 068A shrinking retailer's Rs 400 crore of debt trades at 60 and its equity is valued at Rs 100 crore. Across recovery, restructuring and liquidation, would you rather own the debt or the equity?Distressed and special situationsHardBain CapitalBoston · 2026
  3. 069A fund uses a subscription credit line at 8% to delay its capital call by 180 days on a deal that turns 100 into 200 over four years. What happens to the IRR and to the money multiple?Fund, LP and portfolio analyticsHardSecondaries and fund of funds
  4. 077Two-hour three-statement LBO: interest is charged on the average debt balance. Show how year 1 cash, debt and interest link, why that is circular, and prove the balance sheet balances.LBO modelling testsHardKKRLondon · 2025
  5. 079A TV network earns Rs 900 crore from advertising, falling 8% a year, and Rs 400 crore from subscriptions, rising 6%, with 40% of its costs fixed. Project five years of EBITDA and say whether it is a buyout at 6x.Commercial and market casesHardBain CapitalBoston · 2026
  6. 080Should the credit fund lend Rs 200 crore to a construction company with a Rs 2,400 crore order book, 150 receivable days and Rs 150 crore of mobilisation advances? Value it and test repayment.Private credit and direct lendingHardBain CapitalNew York · 2024
  7. 082Your thesis says cell costs fall 20% in two years and lift margin from 12% to 18%. The interviewer asks: what if costs do not fall, and how are you so sure they will? Defend it with numbers.Screening and ranking businessesHardApollo Global ManagementAnonymous interview candidate in · 2021Apollo Global ManagementAnonymous interview candidate in · 2021
  8. 084Exit a portfolio company by IPO at 20x earnings, selling 25% now with a 12-month lock-up and a 10% discount, or by trade sale now at 11x EBITDA? Compare value and timing to the fund.Portfolio operations and exitsHardLarge-cap buyout fundMid-market buyout fund
  9. 086Group case: a 200 MW wind farm with a 32% plant load factor sells at Rs 3.2 a unit under a 25-year power purchase agreement, costs Rs 1,300 crore and runs on Rs 40 crore of opex. Work revenue, the project IRR, and the risks to discuss.Real estate and infrastructureHardInfrastructure fund
  10. 092Take-home SaaS case: ARR Rs 250 crore, net revenue retention 115%, gross churn 8%, new ARR Rs 60 crore a year. Project ARR for five years, value it at 8x, and show what happens if retention falls to 100%.Growth equity and softwareHardSoftware buyoutGrowth equity

Company names and figures are illustrative.