Breaking into M&A - LBO [EN]

Présentation du cours

A “Leveraged Buy-Out”, or LBO, is distinct from other more conventional acquisitions. The favourable financing conditions in recent years have led to a significant increase in LBO operations undertaken by private equity funds. This course is an indispensable companion for candidates seeking to work in M&A or private equity.

As a matter of fact, technical questions centered on the LBO are de rigueur for private equity interviews, and often posed as well during M&A interviews (since M&A firms frequently act as advisors in LBO transactions).

However, candidates often find themselves ill-equipped to properly answer questions on the subject. What are the distinctive characteristics of a LBO? What makes for a good LBO target? What are the different types of debt used to finance a LBO? How do private equity funds measure the returns of a LBO transaction? What are the exit options available for a fund post-LBO? What is a paper LBO (a common short case study asked during private equity and M&A interviews)?

The answers to these questions and more are the focus of this course. Through it, you will learn not just what to say, but also how to say it. The aim is to enable you to achieve performance excellence in your interviews.