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:

I hope you all had a restful summer. Classes are in full swing here at the Business School and we at the Private Equity Program have a full complement of events and updates to share with you:

Deal Camp is now in its fifth year. This year we are partnering with Executive Education to open a limited number of seats in Deal Camp to industry professionals. 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 also now in its fifth year. Please join us on October 6, 2015 for our session on M&A and Activism.  These events continue to be a wonderful networking opportunity for the Columbia community.

• The next phase of research is underway with Damon J. Phillips, Lambert Family Professor of Social Enterprise Management, and SAP Americas on the role of technology and other societal influences on the various generations in today's workforce.

• Under the direction of Margaret Cannella `76 as the Administrative Director of the Private Equity Program, the Fellows Program has selected the 2016 Fellows Program class, and has an exciting year planned.

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@gsb.columbia.edu

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.
  • 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.
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.

Read more

Fellows Program Publishes Technical Note on LBO Modeling as Training Tool


The Private Equity Fellows Program published a “Technical Note on LBO Valuation and Modeling” with Columbia Caseworks.

The publication provides instruction on LBO model-building for students in graduate business schools and entry-level professionals in investment bank training programs and private equity firms. The note may also be useful to students who are eager to learn and practice their modeling skills. A sample model and instructional video accompanies the publication.

Go to the Columbia Caseworks page to purchase and/or download a review copy and for information on academic licensing.

Information on non-academic sales are available as well. If at any time you need assistance with the ordering process, please contact ColumbiaCaseWorks@gsb.columbia.edu



Read more

Private Equity Program Advisory Board

Welcome to new Advisory Board Member,
Jeff Rojek `96, KPMG

Gary Appel `77 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 Equity
Stewart K.P. Gross `87
  Managing Director, Lightyear Capital
  
Rebecca John `01 Partner, Lexington Partners
Adam Reinmann `04
 Managing Director, Wendel Group
Jeff Rojek `96 Global Lead Partner, KPMG
Alisa A. Wood `08 
Member, Client and Partner Group, KKR

2015 Annual Advisory Board Dinner
September 29, 2015

Read more

Private Equity Program Photos

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

Alumni News

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!


New Videos Launched from Private Equity Program's Annual Deal Camp

 
The Private Equity Program recently launched a two-part video lecture with Valerie Purdie-Vaughns who came to speak at Deal Camp in 2015 and 2016. Speaking on the subject of diverse teams, and providing an experiential exercise for the students, Professor Purdie-Vaughns shows the academic research and ideas that make diverse teams an important value-proposition for PE firms. These sessions were sponsored by KKR. Read more



THANK YOU to the Sponsors of this newsletter

 



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.

Professionals invited to participate in Deal Camp 2015

We are pleased to announce a partnership with Columbia Business School Executive Education in which a select group of professionals can attend. This high-touch learning experience is ideal for career changers, and pre-MBA professionals.

Contact us for more information.



RECENT EVENTS

September 3, 2015 - Investment Banking Career Panel with CMC and the Program for Financial Studies

Packed house for first-year session on
Investment Banking
September 3, 2015

August 27, 2015 - Columbia Career Conversations with CMC and External Relations

Greta Larson of the PE Program at CCC Event
with recent alumnus Bharath Rajagopalan `15

August 27, 2015

 July, 2015 - Visit to Toronto with EMBA Americas

Professor Hitscherich and Declan McCarroll of EMBA
with students in Toronto


Private Equity Program Research

Enhancing your Career Success in a Multi-Generational Workplace - the Program's research survey developed with Damon J. PhillipsLambert Family Professor of Social Enterprise, was launched to the most recent incoming Class of 2017 during their Orientation.

Coming soon: We look forward to sharing the survey with our alumni. Thank you in advance for helping us in Columbia research!

July 26, 2015 - The research of Professors Charles Calomiris and Donna M. Hitscherich appeared in the Financial Times, "Go-shop provisions: buyer beware OM Group and Apollo deal shows a final bid is not necessarily final."



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

@Cbspe The PE Program on Twitter