Sanrock Capital LLP INVESTMENT BANKING TRAINING

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Sanrock Capital LLP INVESTMENT BANKING TRAINING Powered By Docstoc
					 Global Investment Banking
 Programme in Partnership
            with

Sanrock Capital LLP
 Sample of Your CV after this Programme
                                                    [Your Name]
Investment banking summer analyst                                             September 2012 to October 2012

                                              Sanrock Capital LLP
                   Integrated Cash Flow Modeling and Merger & Acquisition Modeling
                        Financial Statement Analysis and Comprehensive Valuation Analysis

 Analysed NYSE and LSE listed companies for M&A, private equity and leveraged buyout transactions.
 Prepared buy and sell side transaction pitches, teasers, and writing confidential investment memo (CIM).
 Valued LSE Sainsbury (“SBRY”), Mulberry (“MUL”) and NYSE Hershey (“HSY”), NASDAQ First Solar
 (“FSLR”) by using Comparable, Transactions comps and Discounted Cash Flow Analysis (DCF) methods.
 Built fully-integrated financial statements 5-year projection model, DCF model, and accretion/dilution merger
 models for SBRY, MUL, HSY and FSLR companies.
 Built Excel financial model for leveraged buyout transaction of the company for a private equity sponsor.
 Preparation of M&A transaction-ready model with Accretion/Dilution analysis of the deal.
 Prepared the presentation and presented the transaction to the board.


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      What our alumni say
‘’I was amazed by the depth of investment banking real work experience learning.’’
                                                                                              Nataly
                               (BSc Computer Science, now working at one of top 10 investment banks)

“For somebody that wants to get a grasp of the whole M&A business, that’s the right place to be. It carries
you from the beginning of financial statement to the most sophisticated strategic aspects behind M&A
decisions.”
                                                                                             Maria Christofili
                                                                                               Alegro Capital

‘’This is a unique opportunity to acquire transaction execution skills from A to Z which is the exact same
programme run at top investment banks in London or New York”

                                                                                             Karthik
                                         (MSc Finance and now working with European Investment Bank)

‘’After reflecting the skills acquired at the Summer Programme and my CV review session with the Senior
Investment Banker I have started receiving interview calls.’’
                                                                                                   Soban
                                                                          (BSc in International Business)

“Comprehensive detailed training. Interview techniques helped me in getting the job in US.”
                                                                                Aliasger Gulamhuseinwala
                                                                                       (Durham University)
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Key distinguishers of applied experience in
partnership with Sanrock Capital LLP
   Global Banking Training in partnership with Sanrock Capital LLP has created
   this analyst/associate programme to provide delegates real world applied
   experience of Investment banking and Private equity transactions.

   Work with senior investment bankers: Execute real-life transactions with seasoned
   investment bankers acting as your mentors.

   Choose your best option: Work remotely from home or complete the programme in
   the Central London office.

   Get 100% prepared to Day-1 on the full-time job: Investment Banking Summer
   Programme guarantees complete investment banking transaction execution work
   experience from A to Z. You will build your own financial models for real transactions –
   NOT customising or photocopying.

   Comprehensive Career Development Programme: one-to-one sessions with senior
   investment bankers to help you prepare your CV, cover letter and interviews.
   Distribution of your CV through the network of our partners and recruiters.




                                                                                              4
     Mentors’ Profiles
Dr. Vishwajeet Rana; MBA, MS and Ph.D.
Chairman; Sanrock Capital LLP
Dr. Rana is a seasoned investment banker with US $5-billion+ investment banking transaction
experience. He has executed a number of complex cross-border equity/debt structured
investments and financing transactions in the UK, Canada, Australia, South Africa and Hong
Kong jurisdictions while working at HSBC New York office. He is currently advising clients in
emerging markets for cross-border Mergers & Acquisitions and Private Equity transactions in
renewable energy, power and media sectors. He started his Investment banking career with
UBS Investment Banking in New York in Investment portfolio management. He likes playing
golf, squash and mentoring ambitious minds.

Allan Vlah, CFA, MBA has over 10 years’ experience in the energy and infrastructure sectors.
Following the completion of his MBA at the University of Oxford, Allan has worked in private
equity at Macquarie European Infrastructure Fund, focusing on European transportation and
energy companies. In this capacity he has been involved in merger & acquisition and debt
refinancing for €10-billion. As a senior asset manager for infrastructure companies, Allan has
been part of turnaround of businesses, spin off and buyout. He started his career as buy side
equity research analyst and portfolio manager for the wealth management arm of Toronto
Dominion Bank, Canada.


                                                                                                 5
Week 1: Weekly tasks & applied learning

 1.1 Global investment banking overview, preparation and analysis of financial statements


    Understanding global investment banking roles and skills required
    Senior investment banker introduction and understanding of delegates background
    Preparing Income, Cash Flow statements and Balance Sheet
    Understanding the importance of depreciation and amortization


 1.2 Analysing the financial statements from the eyes of following roles:
        Private Equity and Leveraged Buyout
        Mergers & Acquisitions (M&A)
        Equity Research, Debt Syndication and Project Finance
        Executive Management
    Analyse performance, efficiency and capital markets
    Basics of capital investment techniques (NPV, IRR, cash returns and payback)
 1.3 Application on London stock exchange (LSE), NYSE and NASDAQ listed companies



                                                                                        6
Week 1: Weekly tasks & applied learning

 1.4 Global investment banking process and style module (pitch preparation,
     presentation and writing confidential investment memo and teasers)


    Data collection
    Use of databases
    Preparation of real company pitch and teaser
    Preparation of confidential information memorandum (CIM)
    M&A/sell-side process
    Private equity/buy side process


 1.5 Application on one London stock exchange (LSE) listed company and one private
     (non-public) company
 1.6 Discussion on frequently asked questions (FAQs) on this topic by Investment
     Banks and Private Equity firms




                                                                                     7
Week 2: Weekly tasks & applied learning
  2.1 Fundamentals of valuation, trading comparables valuation and Financial
      Modelling of Trading Comps
     Fundamental of valuation
         Equity value
         Enterprise value
         Calculation of diluted shares outstanding
         Normalizing the numbers
         Latest/trailing twelve months
         Calendarization of different reporting months
     Selecting a peer group of comparable companies
     Gathering the information on the peer group
     Benchmarking the comps
     Determining valuation
  2.2 Application on at least five public stock exchange listed companies
  2.3 Discussion on frequently asked questions (FAQs) on this topic by Investment
      Banks and Private Equity firms


                                                                                    8
Week 3: Weekly tasks & applied learning
 3.1 Discounted cash flow valuation and Financial Modelling
    Determine key performance drives of the company
    Calculating free cash flow to equity holders
    Projection of sales, EBITDA, EBIT and EPS for 5/10 years
    Projection of tangible and intangible assets
    Projection of capital expenditure and net working capital
    Calculating industry practiced other assets and liability
    Determining the weighted average cost of capital (WACC) of public listed and private
    companies
    Determining terminal value by
        Exit multiple method
        Perpetuity growth method
    Sensitivity and scenario analysis of WACC, sales and enterprise value of the
    company
 3.2 Application on two London stock exchange (LSE) listed company and two New
     York Stock Exchange (NYSE) listed company
 3.3 Discussion on frequently asked questions (FAQs) on this topic by Investment
     Banks and Private Equity firms
                                                                                           9
Week 4: Weekly tasks & applied learning
 4.1 Determining Transaction Premium (Transaction Comps),
     Leveraged/Management Buyout (LBO) and Financial Modelling
    Selecting a peer group based on market conditions and deal dynamics
    Gathering the information
    Purchase consideration (Cash/Stock or both)
    Spreading the numbers in financial model
    Benchmark and determine the premium
    Adjustment of synergies in the transaction premium
    Characteristics and economic of LBO
    Financing mix of the transaction
    Credit ratios and investment maximization
    Exit strategies by private equity players and value measurements of the investment
 4.2 Application on two London stock exchange (LSE) listed company and two New
     York Stock Exchange (NYSE) listed company
 4.3 Discussion on frequently asked questions (FAQs) on this topic by Investment
     Banks and Private Equity firms


                                                                                         10
Week 5: Weekly tasks & applied learning
5.1 M&A transactions pro-forma and leveraged buyout modelling


   M&A accretion and dilution (A-D) modelling
   Calculation of pre and post tax synergy in A-D analysis
   Income statement impact
   Balance sheet and credit rating impact
   Leveraged buyout investment return analysis (Cash returns & IRR)
   Modeling of all stakeholders (Financial sponsor, Lenders and Seller) in LBO
   Technical writing and communication
5.2 Board presentation of the investment banking transaction
5.3 Discussion on frequently asked questions (FAQs) on this topic by Investment
    Banks and Private Equity firms




                                                                                  11
Week 5: Weekly tasks & applied learning

 5.4 Financial modelling on LSE, NYSE and NASDAQ listed company and best global
     investment banking Excel financial practices
    Overview of best investment banking practices for financial modelling
    Setting up the model for historic and 5 years projections
    Preparation of Income and Cash Flow statements and Balance Sheet
    Industry accepted assumptions and their logic for sales growth, COGS, EBITDA,
    working capital and Capital expenditure
    Depreciation and amortization of assets
    Forecasting net working capital and its importance in valuation
    Preparation of Debt, Interest and Cash sweep function
    Shareholder’s equity schedules
    Integration of Cash Flow, Income Statement and Balance Sheet
    Comparing your per share price valuation with real-time market price to recommend
    Buy/Hold/Sell the share
    How to handle circularity and referencing in financial modelling




                                                                                        12
Week 5: Board Presentation


     Upon completion of the programme all analysts will be present their
     models to the Panel of Senior Investment Bankers.

     The best delegate selected by the board will be offered an
     additional one month of paid internship at Sanrock Capital LLP




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Contact information




          Vitaly Voytenko
         Business Manager
Email: vitaly@globalbankingtraining.com          Address: 40 Cannon Street,
Telephone: +44 (0) 207 539 3548                           London EC4N 6JJ




For more information, please visit: www.globalbankingtraining.com


                                                                              14
 Sample of Your CV after this Programme
                                                    [Your Name]
Investment banking summer analyst                                             September 2012 to October 2012

                                              Sanrock Capital LLP
                   Integrated Cash Flow Modeling and Merger & Acquisition Modeling
                        Financial Statement Analysis and Comprehensive Valuation Analysis

 Analysed NYSE and LSE listed companies for M&A, private equity and leveraged buyout transactions.
 Prepared buy and sell side transaction pitches, teasers, and writing confidential investment memo (CIM).
 Valued LSE Sainsbury (“SBRY”), Mulberry (“MUL”) and NYSE Hershey (“HSY”), NASDAQ First Solar
 (“FSLR”) by using Comparable, Transactions comps and Discounted Cash Flow Analysis (DCF) methods.
 Built fully-integrated financial statements 5-year projection model, DCF model, and accretion/dilution merger
 models for SBRY, MUL, HSY and FSLR companies.
 Built Excel financial model for leveraged buyout transaction of the company for a private equity sponsor.
 Preparation of M&A transaction-ready model with Accretion/Dilution analysis of the deal.
 Prepared the presentation and presented the transaction to the board.


                                                                                                                 15
Next Step: Starting Date and Fee
Option 1: Full-Time Analyst Programme in Central London
    Start Date: September 3rd 2012 Duration: 5 weeks, Monday to Friday
    Fees £3,000 plus VAT


Option 2: Remote Full-Time Analyst Programme (Internet Video Conferencing)
    Start Date: September 3rd 2012      Duration: 5 weeks, Monday to Friday
    Fees £3,000 plus VAT


Option 3: Part-Time (Weekend) Associate Programme in Central London
    Start Date: September 8th 2012 Duration: 5 weekends, Every Saturday and Sunday
    Fees £2,500 plus VAT


Option 4: Remote Part-Time Associate Programme (Internet Video Conferencing)
    Start Date: September 8th 2012 Duration: 5 weekends, Every Saturday and Sunday
    Fees £2,500 plus VAT


ELITE Option: Full-Time Analyst Programme in Central London + 3 Months Client-Facing transactions
    execution work experience with Dr. Rana (Condition: Only 5 best candidates will be selected personally by Dr.
    Rana for September term)
    Start Date: September 3rd 2012 Duration: 4 months full-time Investment banking hours
    Fees £9,000 plus VAT
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