Instrument one
The Drift Ratio
How far the company has moved from the thesis it was bought on, measured rather than asserted. At Level 3 you act on it.
VCI Institute · COPPE Level 3 · Certified Operating Partner in Private Equity
Intervention
You are appointed as operating partner to a portfolio company already off thesis. One situation, one corpus of roughly seventy documents, and no right answer. You diagnose the gap, establish what the capital structure will permit, decide, and defend that decision in front of a board.
499 US dollars. One payment. Seven day refund while the course is unused.
14 modules29 lessons12 animated videocasts~70 document corpus365 days access
Every off thesis company has a number nobody has calculated
Boards argue about what to do next. They rarely establish, in a figure they would defend, how far the company has already travelled from what was underwritten.
Thesis at entry
Where the company actually is
The drift
The Drift Ratio measures that distance. Most files argue about the plan. Level 3 starts by measuring the gap.
Levels 1 and 2 taught the instruments. Level 3 hands you the file.
There is no model answer and no clean set of facts. The documents disagree with each other. Some of what the file appears to say turns out, on verification, not to be what it says at all.
What is assessed is not the verdict you reach. Hold, exit and reset can all pass. What fails is a recommendation the file does not support.
Three instruments you leave holding
Each one is built inside the case, not described in the abstract.
Instrument two
The Constraint Loop
What the capital structure will actually permit. A sweep, a covenant step and a springing guarantee decide more of the plan than the plan does.
Instrument three
Gates Before Merits
An option that cannot clear its gates is not an option, however good it looks. You screen for affordability before you argue the case.
Twelve animated videocasts
One for every module, plus the field instruments and both certification gates. They are visual explainers, built so the structure of an argument can be watched rather than read, and they work with the sound off.
OrientationHow This Course Works
OrientationYour Mandate
Module 1The Diagnosis
Module 2The Money
Module 3The People
Module 4The Concentration
Module 5The Decision
Module 6The Board
InstrumentThe Affordability Screen
InstrumentThe Intervention Toolkit
GateThe Capstone
GateThe Certification Path
Six assessed modules. Three practice assessments between them.
Every module works the same corpus. Nothing is taught in the abstract and nothing resets between modules, so a mistake in Module 1 is still with you in Module 6.
Module 1
The Diagnosis
What has actually gone wrong, separated from what everybody says has gone wrong. You establish the drift before you propose anything.
Module 2
The Money
The cash sweep, the covenant step and the guarantee that springs. The capital structure decides which plans are even available to you.
Checkpoint
Practice Assessment 1
Modules 1 and 2, marked against the same standard as the certification examination so there are no surprises later.
Module 3
The People
Who is load bearing and who merely has a title. The order you deal with people in is set by the structure, not by the org chart.
Module 4
The Concentration
Customer concentration, and the difference between a risk the file demonstrates and a risk the room has simply agreed on.
Module 5
The Decision
Hold, exit or reset. You screen the options for affordability first, then argue the one that survives.
Module 6
The Board
Saying it out loud to people who are not pleased to hear it, and holding the position when the room pushes back.
What you keep after the course closes
Three field artefacts and an optional library that converts into masterclass grants.
The Intervention Toolkit
The screens and sequences you ran during the case, packaged to be run again on a live file.
The Sentence Book
The exact wording for the hard conversations. What to say when the number is bad and the room wants comfort.
The Field Card
One page. The whole method compressed to what you can hold in front of you in a meeting.
The Applied Library
Optional. TVC Applied, Deal Structure Applied and Growth Leadership Applied. Each one ends in a free masterclass grant.
Two gates, and you need both
Passing one does not carry the other.
The capstone
Establishes that you would do something sensible if you were dropped into a live file tomorrow.
It marks your process, not your verdict. Hold, exit and reset can all pass. What fails is a recommendation the file does not support.
The examination
Establishes that the instruments are yours rather than borrowed.
50 questions, drawn only from the six assessed modules. 90 minutes. The pass mark is 80 per cent, which is 40 of 50.
Three clocks, and they run separately
- Course material: 365 days, from enrolment.
- PE Simulator: 90 days, from the day your Simulator account is opened.
- Capstone workspace: 14 days, from the day your workspace is opened.
The Simulator and the capstone workspace both start when you activate them, not when you enrol. Activate each one when you are ready to use it. Activating early does not extend the term, and the fourteen days on the capstone workspace is the shortest clock in the course.
Who this is for, and who it is not
Built for
- Operating partners who inherit companies already off plan.
- Portfolio operations leads who have to sequence an intervention against a covenant, not a wishlist.
- Deal team members moving from underwriting into the portfolio, where being right is not the same as being useful.
- Advisers and interim executives who are handed a situation and expected to have a view by the second week.
Probably not for you if
- You want a framework you can apply without reading a corpus.
- You want a model answer to check yourself against.
- You have not completed COPPE Levels 1 and 2. Level 3 does not reteach them.
- You are looking for a credential you can finish in a weekend.
Before you register
Prerequisites
COPPE Levels 1 and 2. Level 3 assumes the instruments they build and does not reteach them.
Certificate
Does not expire. There is no renewal fee and no continuing education requirement.
Refund
Seven days, while the course is unused. Opening a PE Simulator account, opening a capstone workspace, or starting any assessment ends the refund window.
Questions
Is there a right answer to the case?
No. Hold, exit and reset can all pass. The capstone marks how you reached the recommendation and whether the file supports it, not which of the three you chose.
Are there live sessions or a cohort?
No. Level 3 is asynchronous throughout. You start when you enrol and work at your own pace within the course access period.
Do the Simulator and capstone clocks start at enrolment?
No. Both start when you activate them. Course material runs for 365 days from enrolment; the Simulator runs for 90 days from the day its account is opened; the capstone workspace runs for 14 days from the day it is opened. Activating early does not extend the term.
Can I take Level 3 without Levels 1 and 2?
No. Level 3 assumes the instruments taught at Levels 1 and 2 and does not reteach them.
How does the refund work?
Seven days from purchase, while the course is unused. The window closes as soon as you open a PE Simulator account, open a capstone workspace, or start any assessment. There is no minimum term because there is nothing recurring to cancel.
Take the file
One situation, one corpus, and a decision you have to stand behind in front of a board.
499 US dollars. One payment. No subscription, no renewal fee.