Fall 2019
Columbia Business School Private Equity Program

Message from Donna M. Hitscherich ’90, Senior Lecturer in Discipline Finance and Economics and Director of the Private Equity Program

Dear Friends of the Private Equity Program:

Welcome to summer and the fifth issue of the Private Equity Program Newsletter. In this issue we are pleased to share recent happenings at the Private Equity Program and upcoming events scheduled for the Fall. This Newsletter also debuts our Alumni News section. We look forward to expanding our Alumni News section and encourage you to share any updates or news with us. The Private Equity Program Newsletter reaches over 3,000 friends of the Private Equity Program and is a great way for all of us to stay in touch. If you have any information to share, please contact us.

Since our last Newsletter we have:

The Program's mission, to bring together financial theory and practice in the private equity industry, can only be accomplished with the help of our Columbia alumni community and the many friends of the Private Equity Program. Greta and I want to thank all of you who have reached out to us as we strive to fulfill the Program’s mission and further connect our alumni.  Our next Newsletter will be in September but we do hope to hear from you before then.

Kind regards,

Donna M. Hitscherich
Office: 212-854-0763
Email: dmh9@columbia.edu

Greta Larson
Office: 212-854-7989
Email: gl2304@columbia.edu

KKR Case Competition Winners

On February 8, 2013 investment professionals from KKR, members of the alumni community and members of the Private Equity Program Advisory Board, came to campus to judge the three finalist teams that had been selected from submissions by the attendees of the 2nd Annual Deal Camp in Montauk.

Teams presented an analysis of a case provided by KKR. This year’s first place team included Shanita Nicholas JD/ MBA ’13, Morris Cox ’13, Eugenia Song PhD Candidate at Teachers College, and Jason St. Peters ’13. The team attended a lunch hosted by Henry Kravis 69 later in February. 

L-R: Eugenia Song, Shanita Nicholas `13, Henry Kravis `69, Morris Cox `13 and Jason St. Peters `13
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Alston & Bird/ Columbia Business School Private Equity Program Series - Restructuring Panel on April 3, 2013

On April 3, 2013 through the generous sponsorship of the law firm of Alston & Bird, the Program presented a panel on the future of Restructuring. Over 75 alumni and friends of the Private Equity Program attended the panel moderated by

Speakers at April 3, 2013 Alumni Event - Visit the Slideshow

Private Equity Program Director, Donna M. Hitscherich 90, with panelists Evan Blum 91, Principal at GlassRatner; Kenneth A. Buckfire 87, Managing Director at Miller Buckfire; Daniel E. Flores 02, Managing Director at GoldenTree Asset Management LP; Michael Livanos 08, Vice President at Barclays Restructuring Group and Will S. Sugden, Partner at Alston & Bird.




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Alumni News and Updates


Tobias Wollenhaupt `10
Visit the Private Equity Program's web site to read Alumni spotlight:Tobias Wollenhaupt 10, partner at Adiuva Capital in Hamburg Germany.

Alumni profile in Columbia Business alumni magazine: After nearly 25 years at McKinsey and Co., Christian Mariager 88 made a career change to private equity.

Please let us know your news.  For Alumni News and Updates contact us at pep@gsb.columbia.edu.


Private Equity Research and Academics

Professors Charles W. Calomiris and Donna M. Hitscherich along with PhD candidate, Adonis Antoniades have completed research on the economic impact of go-shop provisions in merger agreements with private equity buyers. The authors find that go-shops are not a free option, but rather result in lower initial acquisition premia, ceteris paribus and further find no significant effect on abnormal returns from choosing a “go-shop” option.  The decision to utilize a “go-shop” is  predicted by various target firm attributes and characteristics of the target firm’s legal advisory team and sale procedures.  The full text of the research can be found at No Free Shop: Why Target Companies in MBOs and Private Equity Transactions Sometimes Choose Not to Buy ‘Go Shop’ Options.   

Research in progress includes a collaboration among SAP Americas, Professor Damon J. Phillips, James P. Gorman Professor of Business Strategy and the Private Equity Program to explore generational changes in today’s workforce.

The Program will also begin chronicling the history of the private equity industry and the impact on the industry made by Business School alumni. If you are interested in assisting with this project, please contact us.

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Private Equity Program on Twitter

@Cbspe The PE Program on Twitter Read more

Private Equity Program Advisory Board

Gary Appel 77, Executive in Residence, Columbia Business School - Jeffrey Barber 01
 Managing Director, TA Associates, Inc.

 - Kenneth A. Buckfire `87
 CEO and Managing Director, Miller Buckfire

 - Jeff Bunder 
Global Private Equity Leader, Ernst & Young LLP

 - Margaret Butler 01 
 Of Counsel, Greenberg Traurig - David E. De Leeuw 69
 - Co-Founder & Managing Partner, Lion Chemical Capital LLC 
- Co-Founder & Chairman, Lion Cao Asset Management LLC
 - Stewart K.P. Gross 87
  Managing Director, Lightyear Capital
  - Rebecca John 01 Partner, Lexington Partners - Adam Reinmann 04
 Principal, Onex

 - Alisa A. Wood 08 
Managing Director, KKR
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THANK YOU to the Sponsors of this Newsletter

 




 


UPCOMING EVENTS 2013

September 24 - Alston & Bird LLP Alumni Panel and Reception
December 6-8  - 3rd Annual Deal Camp in Montauk


RECENT ACTIVITIES



VC Panel in Palo Alto, CA

Kelley Martin Blanco `02, Assistant Dean, EMBA Programs and Dean of Students introduces the alumni VC Panel
On March 18, 2013 the Private Equity Program participated in "Coast to Coast: The Venture Capital Landscape from the Alley to the Valley"  in Palo Alto, CA. Part of the EMBA Americas Program, the event with the sponsorship of External Relations brought  current EMBA students together with California-based alumni from the School’s MBA and EMBA programs.

The attendees included EMBA Americas students and California-based alumni. Donna M. Hitscherich ’90, Director of Columbia Business School’s Private Equity Program, moderated a lively panel featuring Gustavo Alberelli ’08, Managing Director at Trident Capital; Stacey Bishop ’98, Managing Director at Scale Venture Partners; JJ Freitag ’06, COO of SlideRocket; Mark Huang ’96, Partner, Novus Energy Partners; and Brett Rochkind ’07, Managing Director of General Atlantic.

2013 - Annual Dinner, May 6

Some Private Equity Program Board Members and friends of the Program enjoy the Annual Dinner

The Private Equity Program was proud to sponsor a table at Columbia Business School's 37th Annual Dinner held at the Waldorf Astoria on May 6. The Annual Dinner brings together alumni, friends, corporate sponsors, and guests in an evening of support for Columbia Business School.

Each year, the event raises more than $3 million in unrestricted support, providing resources for curriculum development, student financial aid, faculty research, and the day-to-day operations of the School.



Reunion 2013

investment banking panel 2012
Dean Glenn Hubbard addresses alumni at 2013 Reunion
The Private Equity Program was pleased to support the efforts of the External Relations office in their 2013 Reunion event. The event took place on April 19-21, 2013 and was attended by over nearly 2,400 alumni and guests.

Professor Donna M. Hitscherich 90, Senior Lecturer in Discipline Finance and Economics and Director of the Private Equity Program, moderated a panel about Women in Investing on April 20, 2013 with Alumni Panelists Carolyn Nannini Dolan '78, Managing Principal, Samson Capital Advisors; Ling M. Liu '98, Managing Director, New China Capital Management; Caryn Abner Zweig '98 (EMBA), COO, Abner, Herrman & Brock Asset Management; Adjunct Associate Professor, Finance and Economics.

Women in Investing Panelists at Reunion 2013




Hire Columbia Talent

If you are a recruiter or private equity professional interested in discussing Columbia recruiting or have comments or questions, please contact us. If you have a specific job ready to post, go directly to www.gsb.columbia.edu/jobpost


Private Equity Program Photos

We are always posting new photos on our Flickr account!


19th Annual Private Equity and Venture Capital Conference

Congratulations to the 2013 Student Conference team on their Annual Private Equity and Venture Capital Conference