Message from Donna M. Hitscherich `90, Senior Lecturer in the Discipline of Business Finance and Economics and Director of the Private Equity Program
Dear Friends of the Private Equity Program:
I hope you all had an enjoyable summer. We recently welcomed all the new students and classes are in full swing. The Private Equity Program has a number of recent events and updates:
• Deal Camp is now in its fourth year. We encourage our alumni to attend Deal Camp and please consider whether you would like to attend Deal Camp or send a junior member of your staff. Highlights of prior Deal Camps appear in the Deal Camp video on our web site.
• The Alston & Bird alumni series is now in its fourth year and just a couple of weeks ago had a panel discussion on current trends in M&A for the private equity industry. These events continue to be a wonderful networking opportunity for the Columbia community.
• The next phase of research is underway with Damon J. Phillips, James P. Gorman Professor of Business Strategy and SAP Americas on the role of technology and other societal influences on the various generations in today's workforce.
• Margaret Cannella `76 as the Administrative Director of the Private Equity Program has launched the fully-formed Fellows Program for the 2014-15 Academic year. Under her direction, the Private Equity Program launched the Private Equity Fellows Program last year as a pilot, and it was a great success with both the students and alumni mentors who participated.
• We traveled to Toronto, Canada and were able to visit CPPIB arranged by our Advisory Board member Neal Costello `08 with a group of EMBA Americas students. Greta and I enjoyed meeting with alumni Irina Soeson `12 (Managing Principal, Soena Group), Julian Thomas `09 (Director, Onex), Hai Tran (Vice President, Signal Hill Partners) and Robert Fine `14 (recent participant in the Fellows Program and now a Manager at PSP Investments).
Margaret, Greta and I want to thank all of you who have reached out to us as we strive to fulfill the Program’s mission, to bring together financial theory and practice in the private equity industry. This can only be accomplished with the help of our Columbia alumni community and the many friends of the Private Equity Program.
The Private Equity Program Newsletter reaches nearly 4,000 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.
Donna M. Hitscherich
Fellows Program Update from Margaret Cannella `76, Administrative Director of the Private Equity Program
The Private Equity Fellows Program has completed its selection of 27 MBA and 14 EMBA participants for 2015-16.
The Private Equity Fellows Program has supported individual students in their career preparation and will continue to help on that front. The Fellows Program is furthering the work of the Private Equity Program at large by helping to create a community of Columbia Business School alumni helping each other prosper across the landscape of this exciting and challenging industry.
- This year's participants have completed a series of application requirements, including an LBO Model exam and interviews with the Program and with alumni Jack Donlon `74, Laurie Shahon `76 and Arnie Ziegel `69.
- Each MBA participant will be assigned at least two alumni mentors.
- The activities for the year have been planned with a series of case studies each being facilitated by top firms in the industry, exposing students to various facets of the industry and preparing them for interviews. Sessions will be offered by Carlyle, CVC, General Atlantic, Hamilton Lane and Partners Group.
- Fellows will participate in case writing again.
Private Equity Program Advisory Board
Gary Appel `77 Read more
Executive in Residence, Columbia Business School; Vice Chairman of Corporate Investment-North America at Investcorp International Inc.Jeffrey Barber `01
Managing Director, TA Associates, Inc.
Kenneth A. Buckfire `87
Co-President & Managing Director, Miller Buckfire
Margaret Butler `01
Shareholder, Greenberg Traurig Neal Costello `08
Managing Director, Alpinvest Partners David E. De Leeuw `69
- Co-Founder & and Co-President, Lion Chemical Partners Sean P. Epstein `04
, Head EMEA/MEE, SAP Global Private EquityStewart K.P. Gross `87
Managing Director, Lightyear Capital
Rebecca John `01
Partner, Lexington Partners Adam Reinmann `04
Managing Director, Wendel GroupJeff Rojek `96
Global Lead Partner, KPMGAlisa A. Wood `08
Member, Client and Partner Group, KKR
Margaret Butler `01 was featured in Woman Around Town
Neal Costello `08 is now based in Amsterdam and works as Managing Director, Secondary Investments at Alpinvest.
Paul Nardone `03 was named President & Chief Executive Officer of BFY Holdings, Maker of PopCorners and Other Better-For-You Branded and Private Label Snack Products
Julian Thomas `09 is Sr. Vice President - M&A Renewable Energy Group at Brookfield Asset Management in Toronto
The Class of 2015 Fellows and other students have been interviewing and signing offers at PE Firms such as 3G, Bain, Blackstone, Macquarie, OMERS, Palladium, Partners Group, Rhone Group and many more. Congratulations to all the members of Class of 2015!
October 28, 2014
Learn about the Private Equity Program and Deal Camp (Info session for current students)
December 5-7, 2014
4th Annual Deal Camp in Montauk
M&A Roundup - September 16, 2014
On September 16 2014 over 70 alumni and friends of the Private Equity Program attended the panel at Alston & Bird LLP.
Panelists included Ryan Orton `10
, Partner RAS Associates; Adam Reinmann '04
, Senior Director, Wendel Group; Thomas Vandever ’98
, Head of FIG M&A (Americas), Barclays, Scott S. Winter
, Managing Director, Innisfree M&A Incorporated and moderated by Donna M. Hitscherich '90
, Director, Private Equity Program, Columbia Business School .
THANK YOU to the Sponsors of this newsletter
FEATURED CONTENT: 3 Big Ways that Technology Impacts M&A
By Sean Epstein `04, Head of SAP Private Equity, EMEA/MEE and Emmanuel Cassimatis, Head of Small & Mid Cap Private Equity, EMEA
"Most everyone would agree that technology has a role in M&A or at the very least an impact on its success. In early September of this year, hundreds of General Partners (GPs) and Limited Partners (LPs) gathered at the annual Capital Creation event in Monaco. If there were a word cloud from these conversations the phrase “value creation” would have stood out the most. Funds and their LPs are prioritizing this element of their investment thesis, or criteria for allocating funds. More than ever, they recognize that technology has come from being an enabler to being a source of competitive advantage. At a time where there is high liquidity, being able to create operational value through technology has become a key success factor, a door to efficient value creation." Read the executive summary of what investors need to know about the impact of technology on M&A.
Looking for a Columbia Private Equity Candidate?
The Private Equity Program has been meeting with recruiters and private equity professionals to discuss how the Program in cooperation with The Career Management Center can best help in providing top talent.
If you are a recruiter or private equity professional interested in discussing Columbia recruiting or have comments or questions, or wish to see the Deal Camp or Fellows Program resume books please contact us
. The 2015-16 Fellows Program Resume Book is now available.
If you have a specific job ready to post, go directly to www.gsb.columbia.edu/jobpost
Private Equity Program on Twitter
Private Equity Program Research
No Free Shop: Why Target Companies in MBOs and Private Equity Transactions Sometimes Choose Not to Buy ‘Go Shop’ Options
. Professors Charles W. Calomiris and Donna M. Hitscherich along with Adonis Antoniades, Economist, European Central Bank, have completed research on the economic impact of go-shop provisions in merger agreements with private equity buyers.
Professors Calomiris and Hitscherich presented their research at the ILE Roundtable in December, 2013 and their research was featured in the Wall Street Journal in an article by Ryan Dezember, July 4, 2013
and featured in Columbia Ideas at Work
.Enhancing your Career Success in a Multi-Generational Workplace
- the Program's research survey developed with Damon J. Phillips
, James P. Gorman Professor of Business Strategyy was launched to the Class of 2015 during their Orientation.
The Program's Private Equity Research Project traces the role Columbia Business School alumni have played in the private equity industry.
Private Equity Program Photos
We are always posting new photos on our Flickr account!