COURSE NUMBER: MBA237.3

COURSE TITLE: Private Equity: from LBOs to Emerging Markets

UNITS OF CREDIT: 2.0

INSTRUCTORS: Asiff Hirji and Theodore Kuh

E-MAIL ADDRESSES: asiff.hirji@gmail.com; theodore_kuh@haas.berkeley.edu

PREREQUISITE(S): MBA203 and basic Excel skills

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

REQUIRED READINGS: Articles and cases

BASIS FOR FINAL GRADE: Group project presentations (oral and written), case write-ups and class participation

ABSTRACT OF COURSE'S CONTENT AND OBJECTIVES:

The course will focus on how the private equity industry attempts to create value for its investors through careful selection of its investments, financial structuring and effecting operational improvements. What are the investment attributes that make for an attractive investment? How are potential investments valued? What are the key value levers? A key part of the course will be focused on the LBO transaction, the largest category of private equity transactions.  In addition, growth capital investments and transactions in international markets, including emerging markets will be reviewed. The course will also cover the evolution of the industry and the current issues faced by the industry.

Students will learn how to evaluate investment opportunities from a private equity perspective. Students will make a simulated presentation to an investment committee on a prospective acquisition of a company - reviewing the investment thesis, valuation, financing, business plan, potential returns and exit considerations.

CAREER FIELD: The course is designed to target a broad audience, including both finance and non-finance majors.  Finance students interested in careers in private equity, investment banking and investment management will find the course directly applicable to their profession.  Non-finance majors interested in management consulting, entrepreneurship, and operations will also find the course to be very relevant.

BIOGRAPHICAL SKETCHES:

Asiff Hirji is the founder of Inflekxion LLC, a private investment and performance enhancement firm and currently serves at the Chief Restructuring Officer of Hewlett Packard.  Asiff was formerly a Partner with TPG Capital with a specialization in Financial Services, Technology and E-Commerce. Prior to TPG, Asiff was President of TD AMERITRADE and was previously a Partner at Bain & Company. He received his MBA from The University of Western Ontario and his Bachelor's degree in Computer Science at The University of Calgary.

Theodore Kuh was formerly Managing Director and Global Head of Citigroup's Retail Industry sector. He spent 24 years in investment banking, including 10 years in London and Hong Kong advising corporations and private equity firms on M&A and equity transactions. He received his MBA from The Wharton School and his BS from The Haas School at the University of California, Berkeley.