Prepare for your Lazard PE advisory interview

M&A advisory and sponsor economics for Lazard's PE advisor role.

Socratify AI

The Interview

What Lazard is looking for

PE Advisory Interview

Sponsor Advisory

01LBO Valuation

02Sponsor Returns

03Deal Complexity

04Negotiation

Market Interview

Sector & Opportunity

01Market Sizing

02Competitive

03Trends

04Deal Flow

Behavioral Interview

Behavioral

01Maturity

02Client Thinking

03Judgment

04Presentation

Boutique advisory//Sponsor perspective//Structuring

Practice Library

Lazard exercises

Ready to ace your Lazard PE advisory interview?

Prepare for your Lazard PE advisory interview

M&A advisory and sponsor economics for Lazard's PE advisor role.

Socratify AI

The Interview

What Lazard is looking for

PE Advisory Interview

Sponsor Advisory

01LBO Valuation

02Sponsor Returns

03Deal Complexity

04Negotiation

Market Interview

Sector & Opportunity

01Market Sizing

02Competitive

03Trends

04Deal Flow

Behavioral Interview

Behavioral

01Maturity

02Client Thinking

03Judgment

04Presentation

Boutique advisory//Sponsor perspective//Structuring

How It Works

Master Lazard PE Advisory Interviews

Sponsor advisory and structuring. · Click to expand

1Your Private Equity Goals

LBO Modeling

Practitioner

Value Creation Analysis

Practitioner

2Private Equity Case Prep

Structure a $600M specialty manufacturing LBO with 5.5x leverage. Walk me through the...

CASE INTERVIEWHard

Lazard

3Frameworks

Framework

Is the underlying business attractive and defensible?

What are the growth drivers and market dynamics?

Revenue growth: 12% YoY (vs software industry 18%)

TAM: $50B, penetration 0.3% (significant upside)

How sticky and profitable is the revenue base?

Customer retention: 92% NRR, concentrated: top 10 = 35% revenue

EBITDA margin: 26.7% (mature for stage, expansion possible to 32%)

Can we achieve 25% IRR at entry price and exit assumptions?

Is the entry multiple justified by the business profile?

Entry: 6.0x EBITDA ($240M / $40M) — median for category

Comps: SaaS median 8-12x EBITDA, mature software 5-7x

What exit multiple and timeline support 25% IRR?

Exit assumptions: 8.0x EBITDA at year 5 (growth story), $64M EBITDA

Exit value: $512M (25% CAGR on entry $240M with 4x leverage pay-down)

Can we execute the value creation plan and manage downside?

What is our value creation roadmap?

Organic growth: 12% → 18% via go-to-market investment ($8M yr 1-2)

Margin expansion: 26.7% → 32% EBITDA via platform leverage (ops only, no headcount cuts)

What is the downside if we miss targets?

Stress case: flat growth, 25% EBITDA margin, 5.5x exit = 12% IRR (acceptable downside)

Key risks: customer concentration, competitive pricing, integration with platform

4Feedback

LBO Execution

Distinctive

Value Creation Strategy

Distinctive

Returns Analysis

Strong

Investment Judgment

Strong

Repeat

Practice Library

Lazard exercises

Structure $600M specialty manufacturing LBO.

CASE INTERVIEWHard

Manufacturing · StructureLazard

Source and screen sector deals.

LEARNHard

Multi · SourcingLazard

Strategic value to multiple sponsors. Advise seller.

LEARNHard

Multi · StrategyLazard

Advise on complex stakeholder decision.

BEHAVIORALMedium

Behavioral · LeadershipLazard

Present recommendation to skeptics.

BEHAVIORALMedium

Behavioral · PresentationLazard