Course Detail (Course Description By Faculty)

Why take this course?

Private markets have become one of the fastest-growing segments of global finance, transforming the way companies are financed and how institutional investors build portfolios. This course provides an institutional investor’s perspective on private capital – from venture capital and buyouts to private debt, infrastructure, real estate, and natural resources. Rather than focusing on transactions alone, students learn how the world’s largest pension funds, sovereign wealth funds, insurers, endowments, and family offices evaluate managers, construct portfolios, assess risk, and make long-term investment decisions. The course draws extensively on original investment memoranda, manager due diligence reports, implementation proposals, legal documentation, and investment committee materials adapted from institutional practice. It thus bridges academic research with the practical skills expected in leading investment firms, consulting firms, investment banks, and institutional investors.

*** You an find additional information on the  course webpage  which will be available from Nov. 26 onwards***

This course examines how institutional investors deploy capital across private markets and how investment decisions are made in practice. Unlike courses that focus on a single asset class, it develops an integrated framework covering the entire private markets ecosystem – venture capital, buyouts, private debt, real estate, infrastructure, natural resources, and other private market strategies – from the perspective of both general partners and institutional asset owners. Students learn how the largest institutional investors allocate capital across these asset classes and evaluate investment opportunities within a diversified portfolio. Combining academic evidence with practical investment experience, the course emphasizes portfolio construction, manager selection, due diligence, legal documentation, valuation, performance measurement, and risk management.

Who can attend?

• Open to Booth graduate students, qualified undergraduates (2nd year+), Harris School students, and approved Master's students from other programs.
• No auditors allowed;

 Cannot take BUSN 34219 if BUSN 34209 taken previously: strict.

Assigned reading prior to Week 1:

Chapters 1-4 (without 4.4 Limited Partnerships), Chapter 5 (without Chapter 5.4 Real Estate) and Chapters 6.5-6.9. and 10.5-10.6

!! The assigned reading prior to class start is about 240 pages, so please make sure you get the book early to be up to speed in Week 1. This assignment needs to be done even if you have no access to canvas prior to week 1.

Access to Canvas: In order to do your homework assignments you need to have access to canvas before Week 1. If you do not have access you must contact the TAs as you will be required to do weekly quizzes weekly (exams) the first of which will be due prior to class in Week 2 (see calendar in the Syllabus for deadlines).

This course cannot be taken as a pass/fail. EARLY FINAL GRADES for joint-degree/non-booth graduating students

Students who require Early Final Grades can enroll, but if you do, you need to be aware that you may have to take the final (online quiz) exam earlier than the rest of the class during week 10, to meet the submission deadline for early final grades.