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Learn/LBO modeling in depth
LearnLBO modeling in depth

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B Basic

  • The debt schedule, tranche by tranche10m
  • Interest, average balances, and the circularityPro10m
  • Returns math, fast, and which levers matterPro11m

A Advanced

  • The cash sweep under a credit agreementPro12m
  • PIK, OID, and financing fees in the modelPro12m
  • Partial exits, follow ons, and IRR with many cash flowsPro12m
  • The equity waterfall: rollover, options, and preferredPro13m
  • FlashcardsPro0/15
  • Basic quizPro80% passes
  • Advanced quizPro80% passes
  • Terms

Partial exits, follow ons, and IRR with many cash flows

Real deals rarely have one check in and one check out. Sponsors put in more for add ons, sell down in pieces after an IPO, and take dividends. Each changes IRR in a predictable direction you can estimate without Excel.

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