Course Overview

Entering its eleventh year, Private Equity Projects is a hybrid field and lecture series that provides the opportunity to work hands-on with leading private equity firms on "mutual value" projects and learn about the many things critical to success in PE beyond the transaction itself. Over thirty firms have participated, and over 90 percent requested renewed participation.

Through project work, students can "practice private equity" in a setting as close to authentic as possible. Projects will entail many aspects of private equity, and students will work directly with private equity firms and/or portfolio companies. A final presentation is made to a component of the private equity firm investment committee. Project work is designed to be of mutual value to students and the PE partner. Students can list the projects and the PE firm on their resumes upon the partner's review.

The course is structured to expose students to the inner workings of up to ten PE firms at once. Private equity firms hosting student projects for the 2025 year could include Advent, Apollo, Bain Capital, Berkshire Partners, CD&R, Great Hill, KKR, L Catterton, New Mountain, Odyssey, Warburg, Summit Partners, TH Lee, and Warburg. For several years, the course has enjoyed very high ratings from PE firms and students and is an excellent relationship-building opportunity.

Projects range from sector vertical analysis, portfolio operations, re-underwriting failed deals, deal sourcing, platform deal add-on strategies, and more. The workload is carefully managed. In addition to the projects, a very popular slate of PE professionals provides full-class lectures on a variety of PE topics, including Deal Sourcing, Portfolio Operations, Capital Formation, PE CEOs, First Time Funds, Career Management, Recent Alumni Retrospectives, "Getting Paid" and Product Line Extensions. The professor pushes the guests hard to maximize learning for the students.

Professor Dionne also provides a popular weekly Random Musings report based on his recent Blackstone Senior Advisor role, his PE fund formation business, and his directorship of many companies.

A mid-term networking event is held with the local PE community in downtown Boston.

There is virtually no overlap with Starting Your Own Private Investment Firm, which Professor Dionne co-founded as a SIP, and Private Equity Finance.

Who Teaches This Course?

The course will be taught by John Dionne, a Blackstone Senior Advisor and Senior Managing Director for almost 20 years. Mr. Dionne was a Member of the Private Equity and Alternative Credit investment committees and has led investments totaling $4 billion of equity over his career in Distressed and PE investing. He co-founded five multi-billion investment vehicles, including Blackstone's Tactical Opportunities Fund, its Energy Fund, and its Distressed Securities Fund. He has served on fifteen boards and raised over $30 billion in equity capital.

Professor Dionne ensures he is accessible to meet the various needs of his students.

Enrollment

The course could be open for cross-registration; enrollment will be limited to 50 students.

Enrollment by application only: To apply, please submit your CV and a paragraph of interest to this survey by January 5th, 2025. Email Tyler McHugh (tmchugh@hbs.edu) with any questions. Early applicants are encouraged.

Applicants are asked to submit a brief one-page summary explaining their interest in the course.

There are no pre-requisite courses.

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