How to Pass the Antin IB Analyst Interview in 2026

The Antin DNA (TL;DR)

Discipline Prudent and Accountability Investment guide the evaluation of infrastructure modeling. Partners like Nicolas Mallet look for a recruiter-watch signal of naming the trade-off you rejected during asset valuation.

The Antin Interview Loop

Your onsite loop will typically consist of 5 rounds.

1
Round 1
Recruiter Screen
Motivation, fit, GPA, deal interest.
2
Round 2
Technical Screen
Accounting, valuation (DCF, comps, precedent transactions), enterprise vs equity value.
3
Round 3
Market Knowledge
Recent deals, market events, sector outlook, why this firm.
4
Round 4
Superday
Multiple back-to-back interviews with MDs/VPs covering technical + behavioral + fit.
5
Round 5
Behavioral / Leadership
Past evidence of ownership, influence, resolving conflict.

The Danger Zone: Top Reasons Candidates Fail

Based on our database of Antin interview outcomes, avoid these common traps:

Forgetting the tax shield benefit of depreciation
Failing to explain the investment thesis
Focusing only on the prestige of the firm rather than the asset class
Failing to articulate the specific financial trade-off between exit multiple assumptions and long-term cash flow sustainability

Test Yourself: Real Antin Questions

Three real prompts pulled from our database.

Type · accounting

Walk me through how a change in depreciation impacts the three financial statements in an infrastructure project finance model.

Type · sector-outlook

What is the role of energy transition in Antin's investment strategy?

Type · valuation

How would you adjust a DCF model for an infrastructure asset with a regulated rate of return compared to a standard corporate DCF?

+ many more questions, signals, and worked examples

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Antin Interview Question Bank

A sample from our database, grouped by round. Sign up to see the full set.

9 of 13 questions shown

Recruiter Screen

1
Type · motivation
Why does Antin's focus on infrastructure investment appeal to you compared to traditional private equity firms?

Technical Screen

2
Type · valuation
How would you adjust a DCF model for an infrastructure asset with a regulated rate of return compared to a standard corporate DCF?
3
Type · accounting
Walk me through how a change in depreciation impacts the three financial statements in an infrastructure project finance model.
+ 2 more questions in this round (sign up to unlock)

Market Knowledge

4
Type · sector-outlook
How do rising interest rates impact the valuation of infrastructure assets in Antin's core sectors?
5
Type · deal-analysis
Analyze a recent infrastructure deal in the market. Why was it a good fit for an infrastructure fund?
+ 2 more questions in this round (sign up to unlock)

Superday

6
Type · technical-fit
If you were evaluating a toll road project, what are the top three risks you would model?
7
Type · technical-fit
How would you approach a situation where the data for an infrastructure asset is incomplete?

Behavioral / Leadership

8
Type · leadership
Tell me about a time you had to manage a high-pressure deadline while working on a complex financial model.
9
Type · conflict
When building an investment thesis for a mid-market infrastructure asset, describe a specific instance where your valuation output diverged from the team consensus on the terminal value or exit multiple. What specific trade-off did you propose to sacrifice to ensure the model remained disciplined?