Fall 2019
Columbia Business School Private Equity Program

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:

Please enjoy reading this edition of the newsletter which invites you to upcoming events where you will have an opportunity to connect with other alumni and friends of the Private Equity Program and highlights major events of the Program since last quarter, including:

• The student PE/VC Club's 21st Annual Private Equity & Venture Capital Conference on March 6 at the Waldorf Astoria. Alumni discounts are available.

• The Alston & Bird alumni series event in March (full date and registration TBA). These events continue to be a wonderful networking opportunity for the Columbia community.

Reunion Weekend on the weekend of April 17-19 where I look forward to moderating the "Climate Change of Private Equity" panel.

• The Fourth Annual Deal Camp's tremendous success with over 30 presenters, and a talented group of participants, many of whom will participate in the post-Deal Camp investment idea competition this coming month. Read more on our web site, and see the slide show of photos from the event.

• The continuing research 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.

• The Fellows Program under the leadership of Margaret Cannella `76 as the Administrative Director of the Private Equity Program continues a demanding schedule of fund visits and events. 

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.

Kind regards,

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

Fellows Program Update from Margaret Cannella `76, Administrative Director of the Private Equity Program

The Private Equity Fellows Program has supported individual students in their career preparation and will continue to help further 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.

Since the last newsletter, our class of 2016 Fellows has participated in a kick-off event, attended sessions hosted by Carlyle, Hamilton Lane, General Atlantic and Oaktree and has developed relationships with the alumni mentors. We are looking forward to visiting more firms this semester.

Let us know if you would like the Fellows Program resume book, are interested in mentoring, or hosting an after-hours event.

Read more about the Fellows Program schedule and application on our web site.


Kick-off event on October 2, 2014



Read more

Private Equity Program Advisory Board


The Private Equity Program Advisory Board Dinner on September 9, 2014


Gary Appel `77 Executive in Residence, Columbia Business School; Vice Chairman of Corporate Investment-North America at Investcorp
Jeffrey Barber `01
 Managing Director, TA Associates, Inc.


Kenneth A. Buckfire `87
 Co-President & Managing Director, Miller Buckfire


Jeff Bunder 
Global Private Equity Leader, Ernst & Young LLP


Margaret Butler `01 
 Shareholder, Greenberg Traurig
Neal Costello `08 Senior Principal, Canada Pension Plan Investment Board
David E. De Leeuw `69
 - Co-Founder & Managing Partner, Lion Chemical Capital LLC 
- Co-President, Huntsman-Lion Capital, LLC

Sean P. Epstein `04, Head EMEA/MEE, SAP Global Private Equity
Stewart K.P. Gross `87
  Managing Director, Lightyear Capital
  
Rebecca John `01 Partner, Lexington Partners
Adam Reinmann `04
 Senior Director, Wendel Group
Alisa A. Wood `08 
Member, Client and Partner Group, KKR
Read more

Alumnus Profile: Tracy Bahl `04


Visit the Private Equity Program's web site to read Alumni spotlight on alumnus Tracy Bahl `04, Executive Vice President, Health Plans, CVS Health.



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


Read more

Alumni News


Cheryl Lynette Hines `05 is the new director of the Emerging Manager Program for the Teacher Retirement System of Texas (TRS), effective Dec. 1, 2014. Ms. Hines will oversee development and management of the Emerging Manger Program and Private Markets Strategic Partnership Program at TRS.
 
“We are very pleased to welcome Cheryl to TRS,” said TRS Chief Investment Officer Britt Harris. “Her extensive experience in strategic investment advice will be a major asset to TRS and our members as we reaffirm our strong commitment to our emerging manager program and the important role it plays in the fund’s overall investment strategy.”

Adam Kommel ’16 launched Activist Shorts Research, an independent database dedicated to tracking activist short-seller campaigns. Subscribers sign up for timely alerts on new campaigns, as well as screen by share price returns, allegations, short-seller tactics, company tactics and regulator actions. Before starting Activist Shorts Research, Adam tracked shareholder activism for four years at FactSet.

Congratulations to Rendel Solomon `05 (who you may remember from one of our previous alumni profiles) who received inaugural Rising Star Awards NAIC (National Association of Investment Companies). Visit http://www.naicvc.com for more information.
 

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 Fellows Program resume book please contact us. The 2014-15 Fellows Program Resume Book is now available, as well as the Deal Camp Resume Book which includes first and second year students.

If you have a specific job ready to post, go directly to www.gsb.columbia.edu/jobpost Read more

Private Equity Program on Twitter

@Cbspe The PE Program on Twitter Read more

Private Equity Program Photos

We are always posting new photos on our Flickr account!
Read more



THANK YOU to the Sponsors of this newsletter

 



Deal Camp Competition Finals

Tuesday, February 17, 2015, 10:00 AM – 1:00 PM in URIS 301. Alumni are welcome to attend, and please let us know if you are interested in being a judge that morning.  For more information, please contact Greta Larson GL2304@columbia.edu


21st Annual Private Equity & Venture Capital Conference

Please join the PE/VC Club on March 6, 2015 for the 21st Annual Private Equity & Venture Capital Conference which will be held at the Waldorf Astoria on March 6, 2015. We look forward to seeing you there!





Alumni Networking Event

Our next event with Alston & Bird LLP will be in March. Hope you will be able to join us. Registration and speaker details TBA soon. 

 






UPCOMING EVENTS

Monday, October 5, 2015
Admissions Online Webinar - Join faculty, current students, and admissions officers for a deep dive into resources for private equity focused students at Columbia Business School.

Tuesday, October 6, 2015



M&A and Activism - Alumni panel discussion and networking at Alston & Bird.


December 3-6, 2015 (Executive Education)
December 4-6, 2015 (current MBA students)

Fifth Annual Deal Camp in Montauk - Please contact us if you are interested in our Executive Education programming at Deal Camp which will start one day early on December 3, 2015.

Reunion 2015

Reunion Weekend 2015 will be held April 17-19. It is the biggest alumni event of the year. Last year, 2,400 alumni and guests returned to campus to reunite with friends, network with classmates, and attend panel discussions on top business trends. View photos from Reunion 2014.



RECENT EVENTS



Mentor/Fellows Reception at Moelis

On January 29, 2015 the PE Program's reception for mentors and participants of the Fellows Program took place in midtown,  hosted by Chris Kirsten `82, Managing Director at Moelis & Company.

Dean R. Glenn Hubbard joined us and provided remarks on the power of the Columbia network and the work of the Program as alumni across decades assembled to celebrate the Program and its network. 

The Power of the Network!






Deal Camp 2015

On December 4-6, 2015, the Program will hold its Fifth Annual Deal Camp. Members of the Columbia Business School community, including MBA and EMBA students, alumni and private equity professionals will spend the weekend in this intimate and high-intensity learning environment overlooking the ocean at Gurney’s Inn in Montauk.

Deal Camp is made possible with generous sponsorship by EY. The Program gratefully acknowledges additional Deal Camp support from  BNP Paribas, Innisfree, Joele Frank, KKR and Pitchbook.

Deal Camp Participants 2014
 













Deal Camp Kick-Off Reception

See more photos on our Flickr site

On November 18, 2014 the students admitted to Deal Camp after their rigorous application process, came together to enjoy a reception to meet one another and learning about the Program and Deal Camp expectations.

The Deal Camp experience lasts for several months, starting with the kick-off reception and culminating in the Deal Camp competition to be held this Spring.



Happy 2015 from the Program

We hope you received our holiday well wishes.
In case it missed your mailbox, here is the direct link.


FEATURED CONTENT: 3 Big Ways that Technology Impacts M&A

By Sean Epstein `04, Head of SAP Private Equity, EMEA 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. 



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 Strategy was launched to the Class of 2016 during their Orientation.

The Program's  Private Equity Research Project traces the role Columbia Business School alumni have played in the private equity industry.