COURSE
NUMBER: MBA237.13
Please note that there is no add/drop
period for this course. Do not bid on it
unless you are fully committed as you will not be able to drop the course if
your bid is successful.
COURSE
TITLE: Private Equity, Leveraged Buyouts
UNITS
OF CREDIT: 1 Unit
INSTRUCTOR:
Mark R. Poff
E-MAIL
ADDRESS: mark_poff@haas.berkeley.edu
CLASS
WEB PAGE LOCATION: https://bspace.berkeley.edu/portal
MEETING
DAY(S)/TIME: Sunday, 8:00-5:00PM
Please
note the unorthodox format of this course, which meets all day on two Sundays
(1/27 & 3/17). 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 Managing Director of Swander Pace
Capital, a middle-market buyout fund focused on investing in consumer products
companies. Mark has over 15 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
received 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 three SPC portfolio
companies in the sporting goods and accessories categories, and is a
director of several additional SPC portfolio companies in the food and consumer
products sectors.