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Private Equity

Objectives

This course is intended to provide students with an overview of the key aspects of the Private Equity function and help students understand the key building blocks required to successfully develop a career in Private Equity. We will be looking at the Private Equity function from the point of a view of a typical Investment Professional in a standard buyout fund, by assessing the core areas of the portfolio asset lifecycle: origination, acquisition, portfolio management and exit. The course will have a strong practical emphasis and will be heavily based on practical examples. It will end with the simulation of an Investment Committee discussion where students will be presenting investment opportunities to a panel of international Private Equity, Investment Banking and Venture Capital professionals.

General characterization

Code

2236

Credits

3.5

Responsible teacher

Inês Lopo de Carvalho

Hours

Weekly - Available soon

Total - Available soon

Teaching language

English

Prerequisites


Bibliography

We will not follow a specific textbook in this course but relevant literature will be shared closer to the start of the course.

Resources

  • Course web page at UNL intranet;

  • Powerpoint slides available at the course page.

Teaching method

Double sessions (2*1.5h) will be conducted on a weekly basis. Students are expected to:

  • Attend classes and actively participate in discussions;

  • Get actively involved in group analysis of the case-studies;

  • Develop an Investment Committee paper and present it to an audience of Investment Professionals;

  • Devote to home-study about 2 hours per class.

Evaluation method

•    This course has a large practical component using case studies and other practical discussions for which Students are expected to participate. Students who remain silent throughout the course should expect a zero grade in Class Participation.
•    There will be a group assignment in which Students are expected to contribute throughout the course and present an Investment Committee Paper to a panel of experts in the final classes. Individual performance is assessed in the Group Assignment (no free rides).
•    There will also be a Final Exam, where Students need a minimum exam grade of 8 out of 20.
Students grades will be a weighted average of the following:
•    Class Participation:    10%
•    Group Assignment:    40%
•    Final Exam:    50%
In accordance with the school’s norms, there is no procedure for grade improvement after passing this course (no re-sit or second course enrolment).

Subject matter

  • Introduction to PE;

  • Due Diligence;

  • Development of an Investment Thesis;

  • Deal Structuring (Equity and Debt, including Management Incentive Packages);

  • LBO Valuations;

  • Governance and Exits.