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 1–5 of 5 · filtered from 100Clear filters
  1. 006A distressed spinning mill needs Rs 150 crore of rescue money that would rank ahead of the existing Rs 600 crore senior loan. What do the existing lenders recover with and without the rescue, and should they agree?Distressed and special situationsHardSpecial situationsPrivate credit
  2. 010A cement promoter needs Rs 300 crore and will not accept the fund's valuation. The fund proposes a structured instrument: a 16% IRR floor through a redemption premium plus 20% of any upside above Rs 2,000 crore. Work the fund's return across outcomes.Distressed and special situationsCoreSpecial situationsIndian mid-market PE
  3. 030A steel maker is in insolvency. Liquidation would fetch Rs 400 crore; a bidder offers Rs 650 crore. Work the distribution across financial creditors, operational creditors and shareholders, and say why lenders vote for the bid.Distressed and special situationsHardSpecial situations
  4. 048Debt-for-equity restructuring: a shipyard owes Rs 1,200 crore on Rs 100 crore of EBITDA. Lenders cut debt to 4x and take 70% of the equity, with enterprise value at 7x. What do the lenders recover in debt and equity, and what do the old shareholders keep?Distressed and special situationsHardSpecial situations
  5. 059A hotel loan trades at 72 on a par of 100 with three years and an 8% coupon left. If it either defaults and recovers 40 in year 1 or pays off at par, what is the IRR in each case, and what default probability still gives a 15% expected return?Distressed and special situationsCorePrivate creditSpecial situations

Company names and figures are illustrative.