The FINANCIAL -- London Business School’s Career Centre and the student-led Private Equity and Venture Capital (PEVC) Club have hosted the School’s first private equity trek to New York, a major hub for private equity.
The trek, which allowed students to meet private equity firms of varied size and focus, follows an investment banking trek to the New York last year where 60% of the students secured internship offers, according to London Business School.
Richard Bland, Head of Finance, Career Centre, London Business School, said: “Some of the largest private equity firms in the world are headquartered in New York. For students with ambitions to build a career there in private equity, meeting the companies they might want to work for face to face is hugely important.”
Students from the School’s full-time Masters in Finance (MiF) and MBA programmes, who have private equity, investment banking and consulting experience, spent a week in New York earlier this month participating in the trek. Justin Patrick, Co-President of the PEVC Club observed: "One of the great things about being in New York is the access you have to such a diverse set of funds, with distinct personalities and cultures.”
During the trek, the students produced a presentation on the implications and opportunities of Brexit for private equity in the UK and Europe. At their meetings, they heard from investment professionals about current private equity trends in the US and what it takes to break into the New York market. Ab Nandi, Masters in Finance student (graduates 2016) observed: “The presentation offered us a platform to discuss short to medium term considerations for private equity investors as they look to deploy capital by reassessing the risk/reward profile of UK, and European private capital. It was also a great opportunity to show them our potential.”
The students met with representatives from eight funds including mega funds such as Blackstone, as well as middle-market and lower middle-market funds. They also met with private equity advisory firms such as Campbell Lutyens and executive search specialists including Oxbridge.
The trek was arranged with the help of members of the LBS private equity community in New York, including Rishi Chhabria of Campbell Lutyens, Parul Dubey of Yenni Capital and Jan Willem Bakker of Adveq.