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Master Private Equity Recruiting

Modeling, case studies, and everything you need to break into a top fund.

Created by Experts from the Top Institutions
STEP 1
Study Comprehensive LBO Model Tests

Three-statement LBO models used by the top funds covering everything you need to know: purchase accounting, operating builds, dividend recaps, add-on acquisitions, and more.

STEP 2
Watch Video and Excel Tutorials

Over 90+ comprehensive videos covering hours of private equity modeling and recruiting - Excel included!

STEP 3
Practice with Case Studies from Top Funds 

Real case studies and technical questions used by mega funds and upper-middle market firms during on-cycle recruiting.

On-cycle private equity recruiting is perhaps the most chaotic and opaque hiring process in all of finance. The process is so accelerated that it is often the most prepared candidates who end up landing the top mega fund jobs.

We've aggregated the best interview questions, models, and case studies from across the industry and put them into one simple resource.

5 3-Statement LBO Model Tests
of increasing difficulty, designed to teach you how to model complex mechanics and structures (operating model, PIK interest, minority investments, dividend recap, add-on acquisitions).
5 Paper LBO Model Tests
based on actual questions we were asked during on-cycle recruiting. Very frequently asked during rushed processes!
90+ Videos with 6+ Hours of Content
that break down EVERY concept you need to know in detail. Do the entire course in a couple of weekends and be ready for your private equity super days in no time.
2020 Headhunter Coverage List
outlining a list of the major North American private equity headhunters and which firms they represent.
5+ Case Studies Used by Mega Funds
including a step-by-step video tutorial on how to write a case study memo and build an LBO from scratch.
175+ Page Recruiting Guide, 50+ Page Q&A Guide, Exhibit Book
filled with tips, tricks, and the most common questions asked by the top private equity firms. We give you the Excel behind every question so you make sure you know the mechanics!
Private Equity Concepts Explained by an Industry Expert
covering free cash flow yield, unit economics modeling, operating leverage and the ins and outs of the recruiting process.
Be Prepared When Recruiting Kicks Off .
Private Equity Recruiting Course
limited one-time price of
$347
(30% off the standard price of $495)
This course has been purchased by hundreds of candidates pursuing on-cycle recruiting in 2020 and has an average rating of 5 stars.

"Matt and Patrick were quite literally the biggest hardos in that analyst class. I studied using Matt’s materials and it made a huge difference for recruiting."

Fina Pang (Evercore, KKR)

Testimonials
Mega Fund Private Equity Placement
Corporate Training Partnerships

I'm Matt Ting, the Course Director of Peak Frameworks.

I've spent my career working at the top private equity funds and was a top bucket analyst at a leading investment bank. I've worked at Silver Lake Partners, Providence Equity and Evercore in New York and Silicon Valley and received offers from several other investment firms.

I know exactly how tough the struggle is - I come from an international school and had to grind tooth and nail to get looks at those firms.

I'm Patrick Fong, an Advisor of Peak Frameworks.

I've spent my career specializing in technology at TPG Capital and Evercore in San Francisco and New York, respectively. I'm currently studying at the Harvard Business School and graduated NYU Stern as Valedictorian of my class.

Back when Matt and I recruited for private equity, we relied on each other to prep. We were willing to put in the work, but we found that a lot of the resources handed down were out of date or just wrong, and we think there is a great opportunity for a team that does it right.

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Course Curriculum

Introduction and Private Equity Course Overview





Private Equity Recruiting


  • Introduction to Private Equity Recruiting (0:28)
  • Overview of Private Equity (5:06)
  • Paths to Private Equity (3:46)
  • On-Cycle Recruiting Overview (5:45)
  • Off-Cycle Recruiting Overview (3:59)
  • Finding Off-Cycle Opportunities (2:45)
  • Dealing with Headhunters (4:04)
  • Evaluating Firms to Work For (4:48)
  • What is a Mega Fund? (2:39)
  • The Typical Private Equity Interview (4:41)




LBO Theory and Modeling (Debt Schedule / Returns)


  • Debt Schedule (4:02)
  • Revolver (6:56)
  • Waterfall (1:09)
  • PIK Interest (2:26)
  • Internal Rate of Return - IRR (6:45)
  • Multiple of Money - MoM (1:07)
  • Returns and Sensitivites (2:54)
  • Preferred Stock (4:29)
  • Dividend Recapitalization (3:17)
  • Add-On Acquisition (2:29)




Paper LBOs


  • Introduction to Paper LBOs (0:32)
  • The Paper LBO (2:29)
  • Rule of 72 (2:00)
  • Paper LBO #1 (4:26)
  • Paper LBO #2 (7:27)
  • Paper LBO #3 (6:19)
  • Paper LBO #4 (4:00)
  • Paper LBO #5 (6:38)




LBO Model Tests


  • Introduction to LBO Model Test (0:52)
  • Balance Sheet and LBO Model Checks (4:33)
  • LBO Model Test Overview (2:34)
  • LBO Level 1 Instructions (2:34)
  • LBO Level 1 - Part 1 (8:45)
  • LBO Level 1 - Part 2 (10:51)
  • LBO Level 2 Instructions (2:41)
  • LBO Level 2 (11:34)
  • LBO Level 3 Instructions (2:22)
  • LBO Level 3 (12:49)
  • LBO Level 4 Instructions (3:56)
  • LBO Level 4 - Part 1 (11:42)
  • LBO Level 4 - Part 2 (6:06)
  • LBO Level 5 Instructions (4:28)
  • LBO Level 5 - Part 1 (10:37)
  • LBO Level 5 - Part 2 (8:54)




Advanced Private Equity Modeling


  • Introduction to Advanced Private Equity Modeling (0:33)
  • Commitment Fee (3:26)
  • Mandatory Debt Repayment (6:28)
  • Building Case Functionality (15:24)
  • Original Issue Discount - OID (3:57)
  • Last Dollar In Multiple - LDI (3:17)
  • Excel Custom Formatting (4:28)
  • Proceeds Waterfalls - Part 1 (7:35)
  • Proceeds Waterfalls - Part 2 (11:40)




The Private Equity Business Model


  • Introduction to the Private Equity Business Model (0:28)
  • Private Equity Business Model (3:14)
  • Auction and Proprietary Deals (3:49)
  • Auction Deal Process (2:57)
  • Business Diligence (2:36)
  • Fund Structuring (6:57)




Case Studies


  • Introduction to Case Studies (0:46)
  • What's in a Good Investment? (3:17)
  • The Case Study Format (3:47)
  • Operating Leverage (4:29)
  • Porter's Five Forces Model (6:43)
  • The Cash Conversion Cycle (4:18)
  • Where to get Case Studies (2:37)
  • Case Study Examples (1:18)
  • Case Study Model Example - 60 Minute Model (48:18)
  • Case Study Memo Example - 30 Minute Memo (20:08)




Walk Me Through Your Deal


  • Introduction to Deal Walkthroughs (0:39)
  • Deal Preparation (5:34)
  • Deal Math Questions (1:30)
  • Preparing a Deal Summary (2:18)
  • Deal Walkthrough Example (6:18)




Grab Bag Preparation


  • Introduction to Grab Bag Preparation (0:34)
  • Qualitative Preparation (1:55)
  • Opinions and Views to Prepare and Follow-Up Questions to Ask (3:12)
  • Revenue Churn Build (5:34)
  • Free Cash Flow Yield (2:25)
  • Unit Economics (6:26)




LBO Theory and Modeling (Sources & Uses / Financial Model)


  • Introduction to LBO Theory and Modeling (1:11)
  • Walking Through an LBO (3:35)
  • Public Company Enterprise Value Build (2:30)​​​​​​​
  • Options & Private Company (3:31)
  • Sources & Uses - Debt (4:31)
  • Sources & Uses - Equity (2:17)
  • Sources & Uses - Uses (4:04)
  • 3-Statement Model (2:42)
  • Operating Model (2:08)
  • Free Cash Flow and Balance Sheet (1:37)
  • Net Working Capital and Other Balance Sheet Items (3:40)
  • Purchase Accounting (5:46)
  • Goodwill (7:12)
  • Closing Balance Sheet (2:00)





Don't Leave Recruiting Up to Chance
Get the model tests, case studies, and questions used by the most competitive private equity firms in the world.

Frequently Asked Questions

Introduction and Private Equity Course Overview





Private Equity Recruiting


  • Introduction to Private Equity Recruiting (0:28)
  • Overview of Private Equity (5:06)
  • Paths to Private Equity (3:46)
  • On-Cycle Recruiting Overview (5:45)
  • Off-Cycle Recruiting Overview (3:59)
  • Finding Off-Cycle Opportunities (2:45)
  • Dealing with Headhunters (4:04)
  • Evaluating Firms to Work For (4:48)
  • What is a Mega Fund? (2:39)
  • The Typical Private Equity Interview (4:41)




LBO Theory and Modeling (Debt Schedule / Returns)


  • Debt Schedule (4:02)
  • Revolver (6:56)
  • Waterfall (1:09)
  • PIK Interest (2:26)
  • Internal Rate of Return - IRR (6:45)
  • Multiple of Money - MoM (1:07)
  • Returns and Sensitivites (2:54)
  • Preferred Stock (4:29)
  • Dividend Recapitalization (3:17)
  • Add-On Acquisition (2:29)




Paper LBOs


  • Introduction to Paper LBOs (0:32)
  • The Paper LBO (2:29)
  • Rule of 72 (2:00)
  • Paper LBO #1 (4:26)
  • Paper LBO #2 (7:27)
  • Paper LBO #3 (6:19)
  • Paper LBO #4 (4:00)
  • Paper LBO #5 (6:38)




LBO Model Tests


  • Introduction to LBO Model Test (0:52)
  • Balance Sheet and LBO Model Checks (4:33)
  • LBO Model Test Overview (2:34)
  • LBO Level 1 Instructions (2:34)
  • LBO Level 1 - Part 1 (8:45)
  • LBO Level 1 - Part 2 (10:51)
  • LBO Level 2 Instructions (2:41)
  • LBO Level 2 (11:34)
  • LBO Level 3 Instructions (2:22)
  • LBO Level 3 (12:49)
  • LBO Level 4 Instructions (3:56)
  • LBO Level 4 - Part 1 (11:42)
  • LBO Level 4 - Part 2 (6:06)
  • LBO Level 5 Instructions (4:28)
  • LBO Level 5 - Part 1 (10:37)
  • LBO Level 5 - Part 2 (8:54)




Advanced Private Equity Modeling


  • Introduction to Advanced Private Equity Modeling (0:33)
  • Commitment Fee (3:26)
  • Mandatory Debt Repayment (6:28)
  • Building Case Functionality (15:24)
  • Original Issue Discount - OID (3:57)
  • Last Dollar In Multiple - LDI (3:17)
  • Excel Custom Formatting (4:28)
  • Proceeds Waterfalls - Part 1 (7:35)
  • Proceeds Waterfalls - Part 2 (11:40)




The Private Equity Business Model


  • Introduction to the Private Equity Business Model (0:28)
  • Private Equity Business Model (3:14)
  • Auction and Proprietary Deals (3:49)
  • Auction Deal Process (2:57)
  • Business Diligence (2:36)
  • Fund Structuring (6:57)




Case Studies


  • Introduction to Case Studies (0:46)
  • What's in a Good Investment? (3:17)
  • The Case Study Format (3:47)
  • Operating Leverage (4:29)
  • Porter's Five Forces Model (6:43)
  • The Cash Conversion Cycle (4:18)
  • Where to get Case Studies (2:37)
  • Case Study Examples (1:18)
  • Case Study Model Example - 60 Minute Model (48:18)
  • Case Study Memo Example - 30 Minute Memo (20:08)




Walk Me Through Your Deal


  • Introduction to Deal Walkthroughs (0:39)
  • Deal Preparation (5:34)
  • Deal Math Questions (1:30)
  • Preparing a Deal Summary (2:18)
  • Deal Walkthrough Example (6:18)




Grab Bag Preparation


  • Introduction to Grab Bag Preparation (0:34)
  • Qualitative Preparation (1:55)
  • Opinions and Views to Prepare and Follow-Up Questions to Ask (3:12)
  • Revenue Churn Build (5:34)
  • Free Cash Flow Yield (2:25)
  • Unit Economics (6:26)




LBO Theory and Modeling (Sources & Uses / Financial Model)


  • Introduction to LBO Theory and Modeling (1:11)
  • Walking Through an LBO (3:35)
  • Public Company Enterprise Value Build (2:30)​​​​​​​
  • Options & Private Company (3:31)
  • Sources & Uses - Debt (4:31)
  • Sources & Uses - Equity (2:17)
  • Sources & Uses - Uses (4:04)
  • 3-Statement Model (2:42)
  • Operating Model (2:08)
  • Free Cash Flow and Balance Sheet (1:37)
  • Net Working Capital and Other Balance Sheet Items (3:40)
  • Purchase Accounting (5:46)
  • Goodwill (7:12)
  • Closing Balance Sheet (2:00)





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