COURSE NUMBER: MBA237.11

 

*Note: This course and MBA237-Private Equity: Value Creation (taught by Hirji/Goodson) are mutually exclusive. If you took Hirji/Goodson's course in the Fall you will not be allowed to count this course towards your degree. 

 

COURSE TITLE: Private Equity, Leveraged Buyouts

 

UNITS OF CREDIT: 1

 

INSTRUCTORS: Mark R. Poff

 

E-MAIL ADDRESSES: mark_poff@haas.berkeley.edu

 

CLASS WEB PAGE LOCATION: bcourses.berkeley.edu

 

MEETING DATES: Sundays, 8 am-5 pm on 2/26 and 4/23

 

Please note the unorthodox format of this course, which meets all day on two Sundays (2/26 and 4/23). You must attend both sessions in their entirety in order to earn a passing grade.

 

PREREQUISITE(S): Basic Excel skills

 

CLASS FORMAT: Combination of lectures, cases, and interactive discussion

 

REQUIRED READINGS: Cases and articles

 

BASIS FOR FINAL GRADE: Group assignments and class participation

 

ABSTRACT OF COURSE'S CONTENT AND OBJECTIVES: This class will focus on leveraged buyouts (LBOs), a component of the larger private equity industry, and will offer an introduction and overview to all aspects of leveraged buyouts. The course will cover all activities performed by investment professionals in an LBO fund, such as deal sourcing, transaction structure, financing, legal negotiation, and portfolio management. Additionally, the course will discuss private equity fund structure and current issues in private equity. As such, the course is a primer for those interested in exploring a career with a private equity fund. Given the far-reaching impact of private equity, the course is also recommended for students interested in careers in investment banking, commercial banking, and management consulting as the content discussed will offer a deeper understanding of the issues facing their clients in the midst of a financial transaction. The course will also be relevant to those interested in investment management as alternative investments, including private equity, are often a significant portion of asset allocation decisions. Finally, the class will be applicable to students interested in entrepreneurial management as they will face many similar issues as private equity investors (financing choices, corporate governance) and may ultimately choose to partner with or sell to a private equity fund.

 

The course will be taught in two all-day Sunday sessions. By the end of the course, students should have a working knowledge of the tools and approaches employed by private equity professionals in making LBO investments, as well as a strong understanding of the private equity industry structure and current issues.

 

BIOGRAPHICAL SKETCH: Mark R. Poff is a senior partner and Managing Director of Swander Pace Capital, a middle-market buyout fund focused on investing in consumer products companies. Mark has over 20 years of experience in buyouts and private equity and has been with Swander Pace Capital since it began investing its first fund in 1997. Prior to joining SPC, Mark was a senior consultant with Bain & Company in its private equity consulting practice in San Francisco. While at Bain, he led due diligence projects for private equity sponsors across a wide range of industries. Prior to Bain, he was a consultant with LEK Consulting in both Los Angeles and London, where he specialized in valuations, privatizations, and acquisition advisory.  Mark holds an MSc in Economics, with a finance concentration, from the London School of Economics and a B.A. summa cum laude in economics from the University of California at Davis. He currently serves as Chairman of four SPC portfolio companies in the pet, sporting goods, and accessories categories, and is a director of several additional SPC portfolio companies in the food and consumer products sectors.

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