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 11–20 of 59 · filtered from 100Clear filters
  1. 018A restaurant chain with 25 outlets wants to grow to 60. Work the outlet economics and the payback on a new outlet, and say whether the fund should back the expansion.Commercial and market casesCoreGeneral AtlanticBeijing · 2014
  2. 019A software company is being bought at 8x ARR with a senior loan, a mezzanine tranche and equity. Compare risk and return in each layer of the capital structure and say where you would invest and why.Private credit and direct lendingHardHPS Investment PartnersNew York · 2021
  3. 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
  4. 021A paper LBO where the interviewer keeps changing the terms: build the base case for a specialty chemicals buyout, then answer fast what happens to the IRR if the exit multiple falls, if leverage rises, and if the hold shortens.Paper LBOsCoreNeuberger BermanLondon · 2026
  5. 024Timed modelling test: build a three-year debt schedule for a castings company with a term loan under a 75% cash sweep, a PIK note and a revolver, where year 1 capex spikes. Show when the revolver is drawn and when it is repaid.LBO modelling testsHardCarlyle GroupNew York · 2023
  6. 025Value a toll road concession with 18 years left: Rs 150 crore of toll revenue, traffic growing 5%, tariffs indexed at 3%, opex at 20% of revenue, discounted at 12%. What is it worth, what happens at 2% traffic growth, and why does the value fall over time?Real estate and infrastructureCoreBain CapitalSan Francisco · 2025
  7. 026Paper LBO on your own sector: a diagnostics chain of 40 labs bought at 12x, with a plan to open 15 more. Work the return and name the lab-level assumption that matters most.Paper LBOsCoreWarburg PincusNew York · 2014
  8. 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
  9. 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
  10. 031You have read the CIM and databook for a stable, capex-light engineering services business with Rs 75 crore of EBITDA. The sponsor wants Rs 300 crore of debt. What leverage, pricing and covenants do you propose, and how do you handle the two biggest risks?Private credit and direct lendingCoreGolub CapitalChicago · 2015

Company names and figures are illustrative.