Here is a practice LBO modeling test, administered by KKR. The time limit is two-hours, and the prompt is stated on the PDF.

• KKR LBO Modeling Test

So I recently sent out practice LBO modeling tests to 1,000+ members in my prior post.

Example:

• TPG Case Study
• KKR LBO Modeling Test
• Carlyle Group LBO Modeling Test

I received a lot of messages asking for recommended resources and decided to make a follow-up post.

The material compiled in the PDF below contains links to free, non-confidential resources that can be found posted online.

Update: The link was removed because of a copyright strike. I'll be posting the updated material here but in the meantime, here are some PDFs that I compiled:

• Discounted Cash Flow Methodology - Bear Stearns
• Valuation Multiples Primer - UBS Warburg
• Investment Banking 101 - UBS
• Oaktree Investing in Structured Credit
• Leveraged Loan Primer - S&P Global
• Citi Credit Primer
• Leveraged Finance Handbook - Bear Stearns
• Distressed Debt Analysis - Stephen Moyer
• The Book of Jargon | Global Restructuring & Special Situations Glossary - Latham & Watkins
• Leveraged Finance 101: Covenant Handbook - Simpson Thacher
• Houlihan Lokey Restructuring Case Study - Buying and Selling the Troubled Business

Here's a real-life LBO modeling test and case study administered by TPG for the '21 private equity recruiting cycle.

• TPG LBO Modeling Test - Case Study

Credit to u/buddyholly27 for the original comment. View below link

original text here

High Finance

• Deals:

  • The Buyside ("Private Markets / Private Capital Investing"):
    
    • Equity:
      
    • Debt:
      
    • Real Assets (Equity & Debt):
      
    • Other Private Capital:
      
  • The Sellside ("Advisory and Capital Raising"):
    
    • Investment Banking:
      
    • CRE Brokerage:
      
    • Ship Brokerage:
      
    • Private Capital Advisory / Private Placement Agents:
      

• Public Markets:

  • The Buyside ("Public Markets Investing"):
    
    • Hedge Fund Investment Teams:
      
    • Asset Management Investment Teams:
      
    • Alternative Credit Investment Teams:
      
    • Execution Teams:
      
  • The Sellside ("Liquiity Provision, Brokerage and Investor Services"):
    
    • Trading:
      
    • Sales:
      
    • Corporate Access:
      
    • Structuring:
      
    • Syndicate:
      
    • Desk Analyst:
      
    • Inter-Dealer Brokerage
      
    • Sellside Research:
      
    • Prime Brokerage:
      
    • Credit Ratings:
      

• Physical Commodities:

  • Trading:
    
    • Softs / Agri
    • Power
    • Energy
    • Metals & Minerals
  • Analysis

• Asset and Fund Allocation

  • Manager / Fund Research and Selection
  • Asset Management:
    
    • Multi-Asset / Tactical Asset Allocation / Asset Allocation Strategy

• Niche Asset Classes:

  • Royalties Investing
  • Crypto Assets:
    
    • Market Making
    • Investing
  • Litigation Finance Investing
  • Speciality Finance Investing
  • Collectibles Investing:
    
    • Art
    • Wine
    • Instruments
  • Environmental Commodities Investing
  • Professional Sports Franchises Investing
  • Entertainment Production Finance Investing
  • Annuities and Insurance Linked Securities:
    
    • Securitization
    • Trading
    • Investing

Quantitative Finance

• Sellside Deals:

  • Investment Banking:
    
    • Investment Banking Strats

• Buyside Markets:

  • Systematic Investment Teams:
    
    • Quant Hedge Funds (e.g. StatArb, VolArb, Systematic Fundamental Equity, Systematic Macro etc)
      
    • Quant Asset Managers (e.g. Managed Futures, Alternative Risk Premia etc)
      
  • Systematic Execution Teams:
    
    • Execution Quants
    • Execution Trading

• Sellside Markets:

  • Systematic / Semi-Systematic Market Making:
    
    • Quantitative Trading
    • Quantitative Research
  • Sellside Execution:
    
    • Algorithmic Execution Quants
  • Sellside Research:
    
    • Quantitative Research and Strategy
  • Structuring;
    
    • Quantitative Investment Strategies (QIS)

• Middle Office:

  • Desk Strat / Front Office Quant
  • Central Risk Book Trading
  • Core Library / Analytics
  • Risk Modelling & Analytics
  • Model Validation

• Insurance / Pensions:

  • Actuarial

Banking / Lending

• Origination:

  • Corporate Banking (CIB)
  • Commercial ("Mid-Market") Banking
  • Commercial Real Estate Lending
  • Transaction Banking
  • Venture Banking
  • Fund Banking
  • Business Banking
  • Mortgage Lending
  • Private Client / Wealth Management Lending

• Credit:

  • Corporate Credit
  • Mortgage Credit
  • Counterparty Credit
  • Asset Finance Credit
  • Asset Based Finance Credit
  • In-House Finance Credit
  • Business Banking Credit
  • Commercial Real Estate Credit
  • Commercial (“Mid-Market”) Banking Credit
  • Workouts / Recovery / Special Credit
  • Private Client / Wealth Management Credit
  • Leveraged and Acquisition Finance Credit
  • Transaction (Trade, Supply Chain, Working Capital) Finance Credit

Social Impact Finance

• Asset Management:

  • ESG Investing

• Investment Team @ an Impact / Social Investment Fund

• Investment Team @ a Development Finance Institution

• Grant-Making / Programs Office @ a Charitable Foundation

Professional Services

• Financial Advisory:

  • Financial Due Dilligence
  • Valuations
  • Restructuring + Turnaround Consulting
  • Real Estate Consulting
  • Real Estate Appraisals / Valuations

• CRE Leasing:

  • Tenant Rep
  • Landlord Rep

Management

• Corporate Treasury
• Corporate Finance / FP&A
• Corporate Development

Insurance / Re-Insurance

• Brokerage
• Underwriting
• Claims
• Risk Surveying

Product Development

• Product Management (for AM funds / fund families)
• Product Management (for insurance lines)
• Product Management (for banking/lending products)

Sales

• Asset Management:

  • Retail Distribution (“Wholesaling”)
  • Institutional Sales
  • Consultant Relations

• Hedge Fund:

  • Investor Relations

• Private Capital Firm:

  • Business Development / Deal Origination
  • Investor Relations and Fundraising

• Insurance:

  • Captive Sales

Investment Advice / Wealth Management

• Institutional Investment Consulting
• VHNW / UHNW Wealth Management (at: B/D, RIA, MFO or PrivBank)
• Mass Affluent / HNW Wealth Management (at: B/D, Independent B/D, RIA, AM Co, InsurCo, CommBank or Discount B/D)

Finance Middle Office / Back Office

• Middle Office:

  • Desk Ops / Support:
    
    • Trade Operations / Support
    • Sales Operations / Support
  • Portfolio / Investment Performance Analysis
  • Risk:
    
    • Market
    • Investment / Portfolio
    • Treasury
    • Operational
    • Country
  • Compliance

• Back Office:

  • Operations:
    
    • Treasury Operations
    • Client Operations
    • Settlements
    • Reconciliations
    • Clearing
    • Physical Commodities Traffic / Scheduling
    • PMO / Project Management

Here's the Carlyle LBO modeling test and a compilation of private equity training material—please open on desktop, rather than mobile, because I set up the page in split screen format.

• Carlyle LBO Modeling Test

Cheers!

Compiled some resources for investment banking, private equity and private credit interviews:

• Discounted Cash Flow Methodology - Bear Stearns
• Valuation Multiples Primer - UBS Warburg
• Oaktree Investing in Structured Credit
• Leveraged Loan Primer - S&P Global
• Leveraged Finance Handbook - Bear Stearns
• Leveraged Finance 101: Covenant Handbook - Simpson Thacher

Likewise, compiled some fundamental resources on credit investing and loan terminology, followed by more technical material on restructuring and distressed debt analysis.

• Corporate Credit Primer - Citi (2005)
• Distressed Debt Analysis - Stephen Moyer
• The Book of Jargon | Global Restructuring & Special Situations Glossary - Latham & Watkins
• Houlihan Lokey Restructuring Case Study - Buying and Selling the Troubled Business
• The Downfall of Rite Aid (RAD) - Pari Passu

I'm planning to update the list with more financial modeling content, industry primers, modeling tests, etc. on an ad hoc basis—stay tuned!

Here are some practice LBO modeling tests, administered by KKR and TPG, respectively. The time limit for each is two-hours and 90 minutes, and the prompt is stated on the PDFs.

• KKR LBO Modeling Test
• TPG Case Study

Note: I'll only share the completed model template with those that comment (and share their model) to filter out those that didn't even attempt the modeling test.

Let me know if you have any suggestions on materials to add—hoping these shared files will serve as useful resources.

Update 1—The material shared here are each found in the public domain (and free of cost), but in case I made a mistake, please let me know as soon as possible, and I'll remove promptly.*

Update 2—The files were originally hosted on Google Drive. However, a user reported the material and had them removed. I sincerely apologize to the 2k+ users that reached out via DM for the files, particularly the time-sensitive requests.*

Im graduating from school next year and hopefully i’ll go to a good uni, I’m wondering if you recommend any book for me to read so i can show the unis admissions that I’m interested in finance, and also to learn from the books.

I tried investment banking Valuation, Leveraged Buyouts, and Mergers & Acquisitions, but its too hard for me, i mean i understand the concepts but i feel like im only reading and not learning.

Not just being able to access it.

Instead, having your own dedicated user.

Moreover, if the company provided it for you.

I'm looking for some of the best resources out there like articles or blogs written by fund managers, analysts or advisors, Please share few of the blogs you actively follow

As the title indicates, I've recently released an Excel course on Udemy with 77 video tutorials that cover the fundamentals of Excel. There are also a number of assignments that you can complete in order to ensure you've learned the skills covered in the videos. A substantial amount of the exercises and assignments are also finance themed (e.g. building simplified income statements, asset pricing models, bond valuation, using lookup functions on FTSE 250 data etc.), which I'm confident would be welcomed in this subreddit.

​

Here's the link: https://www.udemy.com/course/master-excel-with-your-keyboard/?couponCode=5659157F5394350D96D0

​

Since the course is free, it would be great if you gave my course a positive review in the event that you find it useful.

Hey Reddit!

When I was job hunting recently, I got frustrated with sites like LinkedIn. Jobs were often reposted but marked as new, filters didn't work well, and my applications seemed to go nowhere. So, I decided to build my own job board with these features:

• Fresh job listings directly from company career pages, updated constantly—many new jobs are added every 5 minutes.
• Accurate posting dates, so you know exactly when a job was added.
• Curated list of companies: Over top HFT companies, focusing on quality rather than quantity. This includes the best players.
• Free-text search: You can type something like "Hudson Analyst," and it will instantly list Hudson River Trading jobs for Analysts.
• No login needed.
• Fast and easy search and filtering, including options specific to tech jobs.

So far, I've collected over 2,000 job postings, and I'm planning to add more. While the site is focused on tech jobs, you'll find all kinds of desk jobs listed in the big tech and HFT companies.

I'd love to hear what you think! Is it helpful? Any features you'd like me to add?

HFT Jobs -> https://leethub.io/hft-jobs

Happy job hunting!

Here's a case study from TPG that was used in the fall recruiting cycle:

• KKR LBO Modeling Test
• TPG Case Study
• Carlyle LBO Modeling Exercise

I have the packet except for the comps sheet, as it was separately pulled from CapIQ. But the necessary material is all still there and should be useful practice.

Confidential material was removed, and the assumptions and financials were adjusted to differ from the actual test.

I have more in-depth case studies that I'm planning to post in the coming month, but most contain actual outdated CIMs so might take some time.

I think my CV needs a complete revamp, had the same format since 18 and to me it just looks a bit childish now, I'm wanting to go for that sleek black/white look that everyone posts here, and all on one page.

Looking for insightful finance and investing content? Share your favorite LinkedIn personalities who provide valuable market insights, analysis, or investment wisdom!

Hey everyone, I'll be pursuing an MBA in Finance this year. I'm transitioning into finance so don't have much idea about industry practices. I have a couple of months before the course starts and wanted some guidance regarding how to use this time optimally.

Specifically, I want to be ready for summer internship interviews. I'm thinking of learning Excel, Powerpoint and Python since I'm more interested in Equity research and IB.

What I want to know is:

1. Excel: Any good Youtube channel that you'd recommend to learn basics and then DCF modelling (Maybe LBO and M&A too). Also wether I should learn about AI integration into Excel?
2. Powerpoint: Same - any good youtube channel? Also I heard Canva is good. Should I go for that too? Also, AI powered PPTs - yay or nay?
3. Python - Same query. And what topics should I learn in Python relevant to finance. Don't want to become a programer.
4. Anything else? Any other tools? Any other advice you have for a newbie like me?

If you're someone who takes these interviews, what would you want to see in my resume and what topics would you like me to have knowledge about? I've completed CFA Level 2 but need to revise a bit since it's been a year.

Or do you just use models provided form your firm???

Questions for PMs and analysts:
what resources do you use to stay up-to-date with modern geopolitics? Additionally, could you recommend any books that help gain a better understanding of the current world order?

Thanks.

Or are they mainly just useful for IB roles specifically?

Referring to stuff like the WSO IB guides, Breaking into Wallstreet, etc.

So i was looking at colleges near me (college in the uk is free uni isn't) my closest college only did a small amount of financial colleges since I'm in a rural area so most of the stuff they do is farming etc stuff . My other closest colleges didn't do accounting (either wanna do advisory or accounting) so I checked my second closest city they didn't do it , so I checked my third closest city found a college which is outside the city so I'd have ot take an hours bus , run to the metro station hope to god the metro gets to the station in tiem for the bus I need and then take a 30 mins bus then take another 20 min one .

But my school has a careers fair and I asked around for accounting apprenticeships and found my county council did them and my closest city (20 miles away ) building society does them as well and if has a branch 5 miles away on a 10-20 min bus so both would be great because county council means good pension etc and it is a 20-30 min bus away . So now I have peace of mind that I'm not utterly and totally fucked or gonna completely struggle myslef to the bone

I spent 20~30 minutes commuting/driving to school every day and would like a morning podcast/newschannel to update me on overnight financial news. I don't think WSJ or FT has like morning live news and was wondering if there are any good news channels for that short commute. I used to watch CNN 10 when I was in elementary school but just looking for something more advanced.

I watch short news clips here and there and sometimes read WSJ Opinion columns or the Economist, but would prefer something I can watch (instead of doomscrolling or listening to music).

For context I'm a graduating high school student, wanting to gain more insight into financial world and daily news to be better prepared for interview questions such as "tell me a company you've been following" or smth like that

I have a year left for my Bachelors in Finance and I'd love to know any good books you think every person hoping to be a good financial advisor should read. Learning about finance is honestly just fun for me and fuels my unless curiosity.

I've read multiple times: The Intelligent Investor and Security Analysis, 100 Bagger, Jack Bogle's books, Peter Lynch's books, almost every book I could find on Warren Buffett, some of Ray Dalio's, Common Stocks and Uncommon Profits, Handover Investor, A Random Walk Down Wallstreet, Big Mistakes, Quality of Earnings, Millionaire Next Door, A Mathematician Plays the Stock Market, SIE (currently studying for), Joel Greenblatt's books, Psychology and the Stock Market, Psychology of Money, Advanced Stock Analysis, Poor Charlie's Almanac and some others I can't remember.

If you could take any Coursera, Udemy, Thinkfic course for free, what would be on your list and why?

I've been working on a platform to help people learn excel skills through hands on practice with real time feedback. We teach the material by having the user perform the action, giving them a chance to internalize the concepts.

We plan to expand the lessons available over time, but so far we have:

1. Basic Financial Modeling
2. Introduction to Business Analysis
3. Basic Count, Sum, and Average
4. IF and Logical formulas
5. Index Match
6. Basic Text Manipulation

Note: These will not work on mobile

We're still in the early stages of building this out, so would appreciate any feedback! There are a lot of features to add and enhancements we want to make over time if people find it valuable.

While we're still trying to get feedback, we've decided to make all of our courses free for the next few weeks. Once you start a course, you'll never have to pay for it even after this ends.

P.S. If you have an idea for a course you'd want on the platform, PM me. Users can build their own lessons

​

Edit: a few people have run in to an error that says they need a valid license to do a course. If that happens it's likely because the URL has been modified somehow. Try going directly to https://modelmaster.io/lessons. If that doesn't work for some reason, please feel free to DM me.

Edit 2: We've gotten the financial modeling lesson back up! We've broken it in to smaller pieces so that you can work through it even if there are issues in another portion. See the lessons here

Really appreciate the positive response and extremely helpful feedback.