Private Equity

Financing, Investing, and Value Creation

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Course Date

STARTS ON

1 September 2022

Course Duration

DURATION

11 weeks, online
5-7 hours per week

Course Fee

PROGRAMME FEE

£1,450 £1,334 or get £145 off with a referral

Course Information Flexible payment available
Course Information Special group enrolment pricing
programme fee

£1,450 £1,334

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Why Study Private Equity?

Private Equity is an online programme brought to you by Executive Education at Imperial College Business School. The 11-week programme combines live online teaching sessions and video lectures with interactive activities and assignments to enable high-impact learning for professionals in private equity, investment banking, finance, and related fields. As a participant you will:

  • Examine the past, present, and future of private equity, the role private equity plays as both a financing tool and an investment opportunity, and understand the risks it presents for investors.
  • Learn about the types and economics of private equity, and get insights into recent private equity developments in emerging markets.
  • Explore the impact of private equity with Imperial thought leaders, and expand your knowledge via relevant case studies and assignments as well as your peers.
  • Receive personal support throughout the programme from a dedicated Learning Team and finish the programme prepared to advance your career in—or make your move to—private equity and be able to use its power to create value for you, your organisation, or your clients.
  • Earn a verified Digital Certificate from Imperial College Business School Executive Education.

170%

Private market assets under management (AUM) grew by $4 trillion in the past decade—an increase of 170%—as the number of active private equity firms more than doubled in that time period.

Source: McKinsey, 2020

£48bn

In 2019, there were a total of 118 private equity funds in the UK with a combined value of £47.95 billion raised.

SOURCE: Statista, 2020

Programme Highlights

This programme provides a strong theoretical framework as well as practical applications and tools that will enable you to:

  • Describe the origins and organisation of the private equity industry
  • Recognise the various segments of private equity and how they create value
  • Illustrate the investment process and the importance of due diligence
  • Identify the latest developments in the private equity industry
  • Evaluate private equity investment opportunities
  • Determine private equity negotiations and deal structuring
  • Illustrate the managing and monitoring of an investment
  • Perform valuation of LBOs and calculations for performance distribution
  • Appreciate the roles and careers in the private equity industry

Programme Experience

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Video Lectures

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Live Webinars

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Interactive Activities

Decorative image relating to discussions

Discussions

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Case Studies

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Dedicated Programme Support Team

What You Will Learn

This 11-week programme provides participants with a thorough understanding of the past, present, and future of private equity as well as the opportunities and risks it presents for investors and insights into recent developments in emerging markets. Unlike many finance courses this is not an overly quantitative programme. While the discussion of valuation contains quantitative work, the main focus will be on analytics—especially qualitative factors.

Week 1:

Orientation

Week 2:

Types and Economics of Private Equity

Identify private equity financing opportunities, determine the value creation drivers in growth capital, development capital, leveraged buyouts, and distressed situations, and analyse the factors to take a private company public.

Week 3:

Introduction to the Private Equity Industry

Examine the history of private equity, analyse the types of companies and their motivation for investing in private equity and describe the various stages of private equity investing.

Week 4:

Opportunity and Risks for Investors

Determine what makes different private equity asset classes attractive to investors, analyse the performance and sustainability of private equity funds, and determine the impact of diversification on the asset.

Week 5:

Private Equity Financing and Investment Process

Determine the different stages for setting up and managing a fund, describe the investment process, (including business plan development and fundraising), and examine the potential issues and focus of conducting due diligence.

Week 6:

LBO Analysis and Valuation

Examine the principles of financial modeling, demonstrate the steps of LBO analysis, utilise the available valuation techniques, and discuss the process of negotiations.

Week 7:

After the Deal

Demonstrate valuing an LBO and examine managing an exit or alternative exit.

Week 8:

Private Equity Through the Credit Crisis and Industry Evolution

Examine the impact of the credit crisis on the private equity industry, analyse how private equity investors manage investments, and determine the ethical considerations in private equity investing.

Week 9:

Future of Private Equity

Examine the impact of recent trends on fundraising, investments, and performance, identify the structural differences between investments, and determine the developments in investing to monitor and manage.

Week 10:

Private Equity in Developing Markets

Describe the developments of private equity in emerging markets and discuss the roles in private equity industry.

Week 11:

Fund Organisation and Career Opportunities

Perform calculations for performance distribution, explain the differences between private equity firms and private equity funds, and identify the careers in the private equity industry.

Week 1:

Orientation

Week 7:

After the Deal

Demonstrate valuing an LBO and examine managing an exit or alternative exit.

Week 2:

Types and Economics of Private Equity

Identify private equity financing opportunities, determine the value creation drivers in growth capital, development capital, leveraged buyouts, and distressed situations, and analyse the factors to take a private company public.

Week 8:

Private Equity Through the Credit Crisis and Industry Evolution

Examine the impact of the credit crisis on the private equity industry, analyse how private equity investors manage investments, and determine the ethical considerations in private equity investing.

Week 3:

Introduction to the Private Equity Industry

Examine the history of private equity, analyse the types of companies and their motivation for investing in private equity and describe the various stages of private equity investing.

Week 9:

Future of Private Equity

Examine the impact of recent trends on fundraising, investments, and performance, identify the structural differences between investments, and determine the developments in investing to monitor and manage.

Week 4:

Opportunity and Risks for Investors

Determine what makes different private equity asset classes attractive to investors, analyse the performance and sustainability of private equity funds, and determine the impact of diversification on the asset.

Week 10:

Private Equity in Developing Markets

Describe the developments of private equity in emerging markets and discuss the roles in private equity industry.

Week 5:

Private Equity Financing and Investment Process

Determine the different stages for setting up and managing a fund, describe the investment process, (including business plan development and fundraising), and examine the potential issues and focus of conducting due diligence.

Week 11:

Fund Organisation and Career Opportunities

Perform calculations for performance distribution, explain the differences between private equity firms and private equity funds, and identify the careers in the private equity industry.

Week 6:

LBO Analysis and Valuation

Examine the principles of financial modeling, demonstrate the steps of LBO analysis, utilise the available valuation techniques, and discuss the process of negotiations.

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Who Should Attend

This programme allows participants working in investment banking and finance build solid foundational knowledge in the private equity industry and take advantage of it as a financial tool and an investment opportunity.

It is particularly relevant for the following roles:

Investment Banking Professionals looking to transition to a private equity role and build credibility by adding a certificate to their profile. Representative roles may include:

  • Investment Banker
  • Investment Banking Associate
  • Investment Banking Specialist
  • Investment Manager
  • Investment Advisor
  • Investment Banking Analyst

CXOs and Senior Executives looking to build a roadmap for initiatives that will generate the most value for the company, and recognise the drivers of value creation in private equity. Representative roles may include:

  • Chief Executive Officer
  • Chief Finance Officer
  • Chief Investment Officer
  • Managing Director
  • Managing Partner
  • President
  • Vice President
  • Director of Financial Services

Mid-Level Managers and Analysts working in the Investment Banking or Finance industry seeking to understand how private equity negotiations and deal structuring work. Representative roles may include:

  • Quantitative Analyst
  • Accountant
  • Hedge Fund Manager
  • Risk Manager
  • Asset Manager
  • Financial Analyst
  • Investment Analyst
  • Fund Manager

Professionals working in Private Equity firms looking to build value for their company and progress their career in the field of private equity. Representative roles may include:

  • Private Equity Associate
  • Private Equity Specialist
  • Private Equity Analyst
  • Private Equity & Venture Capital Investor
  • Investor
  • Associate
  • Senior Associate
  • Partner

Consultants or Financial Advisers aiming to create value for client companies, excel at deal management, build long-term relationships, and better understand how to evaluate PE investment opportunities. Representative roles may include:

  • Investment Consultant
  • Finance Consultant
  • Financial Adviser
  • Family Office Representatives
  • Private Banker
  • Private Investor
  • Investor Relations Specialist

Programme Faculty

Faculty Member Marc Kitten

Marc Kitten

Partner at Candesic Strategy Consultants, Visiting Professor in Finance at Imperial College London

Marc Kitten is a partner at Candesic Strategy Consultants. He has 25 years of experience in transactions and financial markets and serves corporations and financial investors in the areas of corporate strategy and corporate finance. He serves on the boards of several fast-growing companies. Prior to co-founding Candesic, he was a consultant at McKinsey & Co. in London and a Vice President at Deutsche Bank in Frankfurt... More info

Case Studies

The programme incorporates real-world case studies into the lessons to illustrate both best practices and missteps in action, including:

Logo for Berkshire Partners

Berkshire Partners: Bidding for Carter’s

Review the private equity firm’s considerations and overall strategy in recommending a final bid and financial structure for a leveraged buyout of the children’s apparel company, from their initial research and due diligence to valuation and bid strategy.

Logo for China Fire

China Fire

Explore different methodologies for valuing a company through the lens of this case, where a Chinese company in the fire protection industry is being taken private by its family owners and Bain Capital’s private equity arm.

Logo for Yell Group

Yell Group

See how a team of private equity investors work to value the leveraged buyout of a Yellow Pages business that operated in both the United States and the United Kingdom as they deal with cross-border valuation issues as well as how to value a stable cash cow business and a growth business.

Logo for Emi

Emi

Study how international law firm Clifford Chance advised Citigroup on the disposals of EMI's recorded music business and music publishing business for a combined $4.1bn value.

Logo for Kmart, Sears, and Esl

Kmart, Sears, and Esl

How did a hedge fund become one of the world’s largest retailers? Explore the emergence of financial buyers like private equity funds and hedge funds as strong competitors to strategic buyers in the same industry in the mergers and acquisitions market.

Logo for Southern Cross

Southern Cross

Follow the formation and development of a private equity firm investing in Latin America in this case study.

Certificate

Example image of certificate that will be awarded after successful completion of this program

Certificate

Upon completion of the programme, participants will be awarded a verified Digital Certificate of Participation by Imperial College Business School Executive Education.

Please note that this programme contributes to earning Associate Alumni status. Visit the Associate Alumni page to find out more.

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Imperial College Business School Global MBA

Successful completion of the Private Equity programme may be used for credit on the Imperial College Business School Global Online MBA, subject to acceptance onto the Global MBA Online programme and the payment of a small fee.

The Imperial learning experience

Human

At Imperial College Business School, we create people-centric learning experiences. From conception through to delivery, we are guided by the principle that learning is a creative, personal and above all, human process. Our high quality, crafted learning environments are highly interactive, community-orientated and actively tutored. Our programmes offer an engaging experience designed to facilitate natural learning behaviours.

Real

No compromises. Our online programmes offer the absolute equivalent of our campus-based programmes. They adopt the same rigorous academic standards, are delivered via our world-leading faculty and offer a comparable high-touch approach to the classroom experience.

FAQs

  • How do I know if this programme is right for me?

    After reviewing the information on the programme landing page, we recommend you submit the short form above to gain access to the programme brochure, which includes more in-depth information. If you still have questions about whether this programme is a good fit for you, please email learner.success@emeritus.org, and a dedicated programme advisor will follow up with you very shortly.


    Are there any prerequisites for this programme?

    Some programmes do have prerequisites, particularly the more technical ones. This information will be noted on the programme landing page, as well as in the programme brochure. If you are uncertain about programme prerequisites and your capabilities, please email us at learner.success@emeritus.org for assistance.


    Note that, unless otherwise stated on the programme web page, all programmes are taught in English, and proficiency in English is required.


    What is the typical class profile?

    More than 50 per cent of our participants are from outside the United States. Class profiles vary from one cohort to the next, but generally, our online certificates draw a highly diverse audience in terms of professional experience, industry and geography—leading to a very rich peer learning and networking experience.


    What other dates will this programme be offered in the future?

    Check back at this programme web page or email us at learner.success@emeritus.org to inquire if future programme dates or the timeline for future offerings have been confirmed yet.

  • How much time is required each week?

    Each programme includes an estimated learner effort per week. This is referenced at the top of the programme landing page under the Duration section, as well as in the programme brochure, which you can obtain by submitting the short form at the top of this web page.



    How will my time be spent?

    We have designed this programme to fit into your current working life as efficiently as possible. Time will be spent among a variety of activities, including:



    • Engaging with recorded video lectures from faculty
    • Attending webinars and office hours, as per the specific programme schedule
    • Reading or engaging with examples of core topics
    • Completing knowledge checks/quizzes and required activities
    • Engaging in moderated discussion groups with your peers
    • Completing your final project, if required

    The programme is designed to be highly interactive while also allowing time for self-reflection and to demonstrate an understanding of the core topics through various active learning exercises. Please contact us at learner.success@emeritus.org if you need further clarification on programme activities.



    What is it like to learn online with the learning collaborator, Emeritus?

    More than 250,000 professionals globally, across 80 countries, have chosen to advance their skills with Emeritus and its educational learning partners. In fact, 90 per cent of the respondents of a recent survey across all our programmes said that their learning outcomes were met or exceeded.

    A dedicated programme support team is available 24/5 (Monday to Friday) to answer questions about the learning platform, technical issues or anything else that may affect your learning experience.


    How do I interact with other programme participants?

    Peer learning adds substantially to the overall learning experience and is an important part of the programme. You can connect and communicate with other participants through our learning platform.

  • What are the requirements to earn the certificate?

    Each programme includes an estimated learner effort per week, so you can gauge what will be required before you enrol. This is referenced at the top of the programme landing page under the Duration section, as well as in the programme brochure, which you can obtain by submitting the short form at the top of this web page. All programmes are designed to fit into your working life.

    This programme is scored as a pass or no-pass. Participants must complete the required activities to pass and obtain the certificate of completion. Some programmes include a final project submission or other assignments to obtain passing status. This information will be noted in the programme brochure. Please contact us at learner.success@emeritus.org if you need further clarification on any specific programme requirements.


    What type of certificate will I receive?

    Upon successful completion of the programme, you will receive a smart digital certificate. The smart digital certificate can be shared with friends, family, schools or potential employers. You can use it on your cover letter or resume and/or display it on your LinkedIn profile. The digital certificate will be sent approximately two weeks after the programme, once grading is complete.


    Can I get the hard copy of the certificate?

    No, only verified digital certificates will be issued upon successful completion. This allows you to share your credentials on social networking platforms, such as LinkedIn, Facebook and Twitter.


    Do I receive alumni status after completing this programme?

    No, there is no alumni status granted for this programme. In some cases, there are credits that count towards a higher level of certification. This information will be clearly noted in the programme brochure.


    How long will I have access to the learning materials?

    You will have access to the online learning platform and all the videos and programme materials for 12 months following the programme start date. Access to the learning platform is restricted to registered participants per the terms of agreement.

  • What equipment or technical requirements are there for this programme?

    Participants will need the latest version of their preferred browser to access the learning platform. In addition, Microsoft Office and a PDF viewer are required to access documents, spreadsheets, presentations, PDF files and transcripts.


    Do I need to be online to access the programme content?

    Yes, the learning platform is accessed via the internet, and video content is not available for download. However, you can download files of video transcripts, assignment templates, readings, etc. For maximum flexibility, you can access programme content from a desktop, laptop, tablet or mobile device.

    Video lectures must be streamed via the internet, and any livestream webinars and office hours will require an internet connection. However, these sessions are always recorded, so you can view them later.

  • Can I still register if the registration deadline has passed?

    Yes, you can register up until seven days past the published start date of the programme without missing any of the core programme material or learnings.


    What is the programme fee and what forms of payment do you accept?

    The programme fee is noted at the top of this programme web page and usually referenced in the programme brochure as well.

    • Flexible payment options are available (see details below as well as at the top of this programme web page next to FEE).
    • Tuition assistance is available for participants who qualify. Please email learner.success@emeritus.org.

    What if I don’t have a credit card? Is there another method of payment accepted?

    Yes, you can do the bank remittance in the programme currency via wire transfer or debit card. Please contact your programme advisor or email us at learner.success@emeritus.org for details.


    I was not able to use the discount code provided. Can you help?

    Yes! Please email us at learner.success@emeritus.org with the details of the programme you are interested in, and we will assist you.


    How can I obtain an invoice for payment?

    Please email learner.success@emeritus.org with your invoicing requirements and the specific programme you’re interested in enrolling in.


    Is there an option to make flexible payments for this programme?

    Yes, the flexible payment option allows a participant to pay the programme fee in instalments. This option is made available on the payment page and should be selected before submitting the payment.


    How can I obtain a W9 form?

    Please email us at learner.success@emeritus.org for assistance.

  • What is the policy on refunds and withdrawals?

    You may request a full refund within seven days of your payment or 14 days after the published start date of the programme, whichever comes later. If your enrolment had previously been deferred, you will not be entitled to a refund. Partial (or pro-rated) refunds are not offered. All withdrawal and refund requests should be sent to admissions@emeritus.org.



    What is the policy on deferrals?

    After the published start date of the programme, you have until the midpoint of the programme to request to defer to a future cohort of the same programme. A deferral request must be submitted along with a specified reason and explanation. Cohort changes may be made only once per enrolment and are subject to availability of other cohorts scheduled at our discretion. This will not be applicable for deferrals within the refund period, and the limit of one deferral per enrolment remains. All deferral requests should be sent to admissions@emeritus.org.

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