© 2013 Viney Sawhney

Private Equity

Professor Viney SawhneyMGMT E-2790 : Private Equity

Spring 2013

© 2013 Viney Sawhney

Class plan

� Introduction to the course

� iSite postings

� Instructor’s articles from Financial publications

� Class Quizzes

� Lecture

� Case discussion

� Individual preparation

� Class discussion

� Feedback

© 2013 Viney Sawhney

Who can benefit from the course

� Investment bankers

� Private Equity analysts

� Venture Capital Associates

� Bankers

� Auditors

� Consultants

� Regulators

� General Partners

� Limited Partners

© 2013 Viney Sawhney

Prerequisites

� Principles of Finance

� Corporate finance

� Introductory Accounting

� Any one of the three courses will suffice

© 2013 Viney Sawhney

Course outline1. Investment Stage

� Fundamentals� Process� Valuation� Deal Structuring� Harvesting Investments

2. Application� Due Diligence� Sourcing and Management� Public Infrastructure Investments / Sovereign Wealth Funds

� Governance / Exit Strategies

© 2013 Viney Sawhney

Materials used in the course

� Class Quiz – Articles from financial publications will be discussed at the beginning of each class

� Questions on Articles will be posted beforehand on iSite for in-class discussion

� Course Pack: Harvard Business School Articles and Case Studies as listed in the Syllabus

� Selected chapters from:

� Cendrowski, Harry, Martin, James P., Petro, Louis W., and Wadecki, Adam A, Private Equity, History, Governance, and Operations, John Wiley & Sons (New York, NY, 2008)

© 2013 Viney Sawhney

Requirements� Class Quiz 25%

� Q&A on financial articles

� Class Participation 25%� Lectures and HBS case discussion

� Midterm 20% � Group presentation

� Final 30% � Case Study assignment

� Rules for Midterm and Final� Cases will be assigned 2 weeks in advance

� Teams will be formed at the beginning of course

� Each team member is required to present a portion of the material

� PowerPoint presentation duration: 30 minutes

© 2013 Viney Sawhney

Courtesy

� Timing

� Name tags

� Academic honesty

� Missing classes

� Consultation

© 2013 Viney Sawhney

Personal Success case Presentation

2-minute introduction per person

� Background and experience as related to this course

� What were the sources/resources of your success

© 2013 Viney Sawhney

Personal statement

Goal: make this course a more effective learning experience. Confidential and voluntary information for course adjustment.

� 1. Name

� 2. When and where did you complete a graduate level accounting course

� 3. When and where did you complete a graduate managerial finance/corporate finance course

© 2013 Viney Sawhney

Personal statement (cont.)

� 4. Highest degree earned, in what field

� 5. How many (if any) classes did you have before, that used “Case Study” teaching method

� 6. Topics most interesting of the course

� 7. Topics least interesting of the course

� 8. Did you work on any of the following areas:� Securities analysis� Credit analysis� Financial policy decision� Private Equity� Corporate governance

© 2013 Viney Sawhney

Feedback card

In today’s class:

� What I liked the most

� What I would like to change

� My rating of today’s class is

(1: lowest, 5: highest);