This course is intended to provide a survey of the private equity asset class. Over the past decades, private equity has evolved into a global industry with trillions of dollars of historical capital commitments. There are now hundreds of well-established private equity firms with differentiated strategies, producing meaningful investment solutions for a wide range of investors around the world.
We will explore the evolution of the private equity market and its participants, focusing on its players as well as the characteristics that have contributed to its sustainability. A unique characteristic of this asset class is the relationship between general partners (GPs) and limited partners (LPs); we will study the perspectives and motivations of both sides. Through case analysis, class discussion and role playing, students will develop a comprehensive understanding of each perspective.
Marshall Sonenshine was a Columbia Business School faculty member from 2009 to 2016.