- Home
- Blog
Blog
News and insights from Private Equity Jobs.
What Is an IC Memo in Private Equity
An investment committee memo is the written case a private equity deal team puts in front of the partners who can approve buying a company. The associate drafts it. The committee votes.
What Does a Private Equity Analyst Do
A private equity analyst is hired out of undergrad and owns pieces of a live deal: comps, data-room hygiene, first-pass research, model updates. They do not coordinate the process or vote. Many large buyout shops skip the title.
What Does a Private Equity Vice President Do
A private equity vice president keeps a live deal moving: the workstreams, the advisors, the memo. They recommend a price and a structure. They do not write the check. The same title is a different job at a megafund, a middle-market shop, and a growth fund.
LBO Modeling Test: How to Build the Model Under Time Pressure
A private equity modeling test checks whether you can turn a deal prompt into a correct, auditable LBO model before time runs out. Includes a 60- and 90-minute practice case with answers.
What Does a Private Equity Associate Do
A private equity associate owns the file on a live deal: the model, the diligence, the memo. They do not decide whether the fund buys. The same title is a different job at a megafund, a middle-market shop, and a growth fund.
Private Equity Interview Questions
Private equity interviews mix fit, technical LBO questions, deal discussion, and a modeling test. Megafund on-cycle rooms weight speed. Middle-market off-cycle rooms weight judgment and firm homework.
How Private Equity Funds Exit
A private equity fund has to sell. A trade sale, a secondary buyout, an IPO, a dividend recap, or a continuation vehicle converts the company into cash so limited partners can be paid.
Private Equity Co-Investment
A co-investment is equity a limited partner puts into a specific company beside the sponsor's main fund, usually outside that fund. Fees are often cut or waived. The sponsor still controls the company.
Middle Market Private Equity
Middle-market private equity is a size label on a buyout. The fund still takes control of a company that already produces cash, often with a loan on that company's balance sheet, holds it for several years, and has to sell.
Private Equity vs Hedge Fund
A private equity fund buys companies and has to return cash before the fund ends. A hedge fund trades liquid securities and marks the book. Both charge a management fee and a profit share. The vehicles are different.
General Partner vs Limited Partner
A private equity fund is a limited partnership. The general partner controls it. Limited partners put up the capital, take limited liability, and do not run the companies.
DPI vs TVPI vs RVPI
Total value to paid-in is cash already returned plus remaining NAV, each divided by capital paid in. A 1.8x that is mostly DPI is not the same fund as a 1.8x that is mostly a mark.