HBS Course Catalog

Field Course: Private Equity Projects and Ecosystems

Course Number 6440

Senior Lecturer John Dionne
Spring; Q3Q4; 3.0 credits
Weekly, two-hour classes
Project
PE Project/Lecture/Guest Series - No Case Studies
Enrollment limited to 50 students - Application only


Course Overview

Entering its twelfth year, Private Equity Projects and Ecosystems is a hybrid field and lecture series that provides the opportunity to work hands on with leading private equity firms on projects of “mutual value” and learn about the many things critical to success in private equity (“PE”) beyond the transaction itself. Over thirty leading firms have partnered with the course, with a renewal rate of over 90 percent requested.

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 their portfolio companies. A final presentation is made to the private equity firm. Project work is designed to be of “mutual value” to students and the PE partner firm. Upon PE firm review, students are permitted to list the projects and the firm on their resumes.

The course is structured so that students can simultaneously be exposed to the inner workings of up to ten PE firms. Private equity firms hosting student projects for the 2025-2026 year could include Advent, Apollo, Bain Capital, Berkshire, CD&R, KKR, L Catterton, New Mountain, Odyssey, Summit, TA Associates, TH Lee, and Warburg. The course has consistently received very high ratings from both PE firms and students for several years and offers an excellent opportunity for relationship building.

Projects range from sector vertical analysis and re-underwriting troubled deals to deal sourcing, platform deal add-on strategies, portfolio operations, capital formation, and more. The workload is carefully managed.

In addition to the projects, a highly popular slate of PE professionals offers 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 First-Time Funds. The professor is very direct with the guests to maximize learning for the students.

Professor Dionne also provides a popular “Random Musings” report from his role as Blackstone Senior Advisor, focusing on the PE fund formation business, and serves as director of numerous companies.

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

Who Teaches This Course?

The course will be taught by John Dionne, a former Blackstone Senior Advisor and Senior Managing Director for eighteen years. Mr. Dionne was a Member of the Private Equity and GSO investment committees and has led investments totaling $4 billion of equity over his career in Distressed and PE investing. He has founded or co-founded five multi-billion-dollar investment vehicles, including Blackstone’s Tactical Opportunities, Energy Transition, and Distressed Securities funds. He has served on fourteen boards and raised over $30 billion in equity capital.

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

Enrollment

The course may be open to limited cross-registration, and enrollment will be capped at 50 students. Enrollment by application only: To apply, please upload your CV and a brief two- or three-paragraph summary explaining their interest in the course to the course application form. Early applicants are encouraged.





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