medium · Investment Banking

An LBO model shows a 5-year IRR of 18%. The sponsor wants to reach a 20% IRR target.

Which of the following changes, held in isolation, would most likely achieve this?

  1. Increasing the capital expenditure (Capex) budget for the company.
  2. Extending the holding period from 5 years to 7 years.
  3. Reducing the amount of leverage used in the transaction.
  4. Lowering the entry purchase price multiple by 0.5x.

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