medium · Investment Banking

A financial sponsor acquires a target for an Enterprise Value of $2,500.0 million using $1,500.0 million of debt and $1,000.0 million of equity. After 5 years, the Enterprise Value has grown to $3,200.0 million and the debt has been reduced to $800.0 million through cash flow sweeps.

What is the Multiple on Invested Capital (MOIC) and the approximate Internal Rate of Return (IRR)?

  1. 3.2x MOIC and 26.2% IRR
  2. 2.4x MOIC and 28.0% IRR
  3. 1.28x MOIC and 5.1% IRR
  4. 2.4x MOIC and 19.1% IRR

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