Your question is LBO IRR Drivers. Take a moment with it on the right.
Talk me through your thinking if you like. When you're confident, submit your answer and I'll grade it like a real screen (7/10 or better passes).
What parts of an LBO affect your IRR and why do they matter in an execution?
Explain how entry valuation, leverage, EBITDA growth, debt paydown, exit valuation, holding period, fees, and cash leakage affect sponsor returns. Use a simple paper LBO framework to show the arithmetic and identify which assumptions require the most execution focus.