2 questions reported in Audax Private Debt interviews, organised by the group that asks them. Every question carries a model answer and graded feedback on your own attempt.
Questions
Easy · Medium
Hard
Model builds
Built in the spreadsheet grid
Blended return construction, PIK, warrants and intercreditor terms. 2 questions
Asked when a candidate knows the coupon but not the equity kicker.
Why might a mezzanine lender ask for warrants instead of simply charging a higher coupon?
Tests whether candidates know how junior lenders monitor risk without controlling the company day to day.
What covenants would you want in a mezzanine investment and why?
Write your answer, get it graded on technical accuracy, completeness and communication, and see exactly which mechanic you missed.
Company tags reflect where a question type is commonly reported in interviews. They are not sourced from, endorsed by, or affiliated with Audax Private Debt.