International Board of Private Equity Standards
The board-governed buyout charter assessed by proctored case against a published standard.
IBPES publishes the buyout standard and administers the proctored examination pathway.
Outcomes
The charter certifies what you can execute on a buyout mandate, not hours in a classroom.
The examination mirrors how sponsors work a control transaction: materials in the room, model discipline, and a defensible recommendation.
Commercial drivers, management quality, and value-creation levers under a control buyout, not public-markets framing alone.
Process letters, diligence streams, financing structure, and closing conditions as they appear in a live data room.
Entry multiple, debt capacity, exit paths, and LP-style reporting discipline tied to a single case company.
Written recommendation, risk flags, and defensible assumptions when information is incomplete, as on a real IC paper.
Each window is a single 4-hour proctored sitting. Detailed instrument weightings are in the candidate guide before your window.
Virtual data room
Transaction materials released when the sitting opens. You work as on a live mandate.
Structured workbook
Excel-style tasks for returns, debt capacity, and sensitivity where the CBOK requires it.
Knowledge checks
Selected-response items testing precision on mechanics, not isolated trivia.
Written judgment
Memo-style answers: recommendation, risks, and assumptions under time pressure.
Total sitting length: 4 hours, proctored, single window. Level 2 uses the same governance with an advanced case specification (4 hours).
Both levels are proctored buyout cases against the published CBOK. Level 2 raises the bar on complexity, integration, and partner-level narrative.
Level 1
Ready to contribute on buyout diligence, model sponsor returns, and draft IC-ready analysis under supervision.
4-hour proctored sitting · June and December (first week of each)
Level 2
Ready to lead workstreams on direct deals: advanced case, deeper financing and portfolio logic, partner-level narrative.
4-hour proctored sitting · Same sitting calendar as Level 1 (June and December windows)
From analyst through VP in investment banking, consulting, and private equity. The standard is built for practitioners who need an edge on promotion and mandate screens.
Analyst to Associate
Context: Investment banking, transaction advisory, early PE
Why sit: Shows syllabus depth and sitting rigour before promotion screens.
Senior Associate to VP
Context: PE, corporate development, consulting into deals
Why sit: Signals deal-ready judgment to partners and hiring committees.
Career transition
Context: Pre-MBA, lateral into buyout
Why sit: A board-governed charter of record where generic finance credentials stop short.
| Level | Context | Why sit |
|---|---|---|
| Analyst to Associate | Investment banking, transaction advisory, early PE | Shows syllabus depth and sitting rigour before promotion screens. |
| Senior Associate to VP | PE, corporate development, consulting into deals | Signals deal-ready judgment to partners and hiring committees. |
| Career transition | Pre-MBA, lateral into buyout | A board-governed charter of record where generic finance credentials stop short. |
For candidates
The CBP pathway is for practitioners who need a board-governed buyout standard on record, not another generic finance certificate.
Analysts through VP on live processes who must show transaction depth beyond generalist credentials.
Professionals on diligence, IC papers, and direct deals who want a published bar aligned to sponsor judgment.
Advisers and pre-MBA candidates moving into buyout who need examination rigour employers can review line by line.
Employers compare the published CBOK, proctored sitting format, and charter rules. IBPES does not publish placement or salary statistics.
For employers
Hiring and promotion teams receive fixed syllabus weightings, sitting instruments, and designation policy. No proprietary course bundle tied to the issuer.
Programme administration
The board sets competency standards, examination policy, and the published fee schedule. Candidates prepare independently against the CBOK before each window.
| Pathway | Examination | Published fees (USD) |
|---|---|---|
Level 1 (standard entry) Standard analyst and associate path | Level I sitting | $450 enrollment · $1,350 examination |
Level II (after Level I pass) Following a passing Level I result | Level II sitting | $1,500 examination |
Level 2 direct entry (CFA® / CAIA®) Verified CFA or CAIA charterholders | Level II direct entry | $450 enrollment · $0 Level I waiver · $1,500 examination |
| Fees are paid per milestone when due, not as one upfront path total. Sitting windows: June and December (first week of each). Registrations 1 January and 1 July. Full schedules on the examination reference. | ||
Flagship designation
Earn the post-nominal through Level 1 examination, experience, and charter application. The sitting tests direct deal execution against the published CBOK.
$1,350 per sitting · 300+ hrs prep · June and December (first week of each)
Registration opens 1 January for the June sitting (closes 30 April) and 1 July for the December sitting (closes 31 October). Applies to Level 1 and Level 2.
Published syllabus: 5 volumes, 18 readings, and competency mapping.
View syllabus →Level 1 fee $1,350. 4-hour proctored case. Windows: June and December (first week of each).
Exam reference →Reference
Structured comparisons for candidates evaluating private equity credentials alongside CFA, CAIA, and other private equity credentials.
CBP vs CFA
The CFA Program certifies broad investment analysis across asset classes. Chartered Buyout Professional® certifies buyout practice through a…
Read comparison →CBP vs CAIA
CAIA covers alternatives broadly (hedge funds, private equity, real assets, and related topics). CBP is limited to buyout practice with a pu…
Read comparison →Private equity certification
Private equity credentials fall into three types: university degrees, course completion certificates from training providers, and board-gove…
Read comparison →Membership
Membership keeps practitioners aligned with syllabus updates, conduct rules, and examination calendars. The figures below are published programme facts, not unaudited member totals.
Membership overviewNews and insights
The Level 1 sitting will be a four-hour, VDR-based case examination delivered under proctored conditions.
An overview of how the Level 1 CBOK is organised and how volume weightings apply to the examination.
