Founding private equity at Broad: Students develop a value-add organization

In recent years, the private equity industry has grown tremendously, evolving into a critical capital and operating partner for businesses spanning every industry.  This surge has sparked a demand for adept professionals who understand the fundamentals behind winning businesses and who execute on a vision to scale and optimize portfolio companies.

Recognizing the need for application-focused training, finance and economics senior George Khamis and finance senior Surush Kataev have founded Private Equity at Broad. This student organization is dedicated to shaping the next generation of leaders through rigorous hands-on experiences and a close view of private equity’s challenges and opportunities.

“Our mission is to offer hands-on learning that adds real value to students, reflecting our commitment to driving meaningful experiences and professional connections,” Khamis explained.

“From investment to harvest, there is a multitude of actions that private equity firms take to source potential investments, vet the company from an intrinsic and market perspective and build the conviction to own and grow the company,” Khamis said. “Each of these nuances looks different across fund size, strategy and geography, creating an intricate landscape that we aim to navigate alongside students with genuine interest.”

To drive these practical experiences, Private Equity at Broad hosted its first alumni speaker series with both investing and operating industry leaders. The series’ insightful discussions started in October with Mike Kaczmarek, managing director at Thomas H. Lee Partners, on the historical and future investing landscape and the diverse role of private equity professionals. In November, June Sun, vice president of Duration Capital Partners, shared her extensive experience with various fund types. Recently, John Newman, CFO & CCO of Center Rock Capital Partners, provided a detailed look into the due diligence process and Steve Kretz, managing director at Corsair Capital, discussed sophisticated deal structuring and financing methods. The series will continue this spring with Brody Eagleston, partner, enterprise improvement, at AlixPartners, who is set to present on exploring value creation throughout the investment life cycle.

“The speaker series has been instrumental,” Yang said. “It offers unique insights into the industry and fosters connections that could profoundly shape our future careers in finance.”

Alongside these engaging conversations, Private Equity at Broad plans to provide opportunities for student analysts to apply their learnings, such as an upcoming buyout case competition hosted in collaboration with Huron Capital. During this event, students will delve into real-world buyout scenarios, enhancing their analytical skills by presenting their strategies to seasoned private equity professionals. This hands-on experience allows participants to assume the role of investors, benefiting from direct feedback and insights that bridge academic knowledge with industry practices.

Guided by dedicated faculty members such as John Steffen, fixed-term faculty in the Department of Finance, Mark Blaufuss, fixed-term faculty in the Department of Accounting and Information Systems, Helen Dashney, fixed-term faculty in the Department of Finance, and David Hawthorne, director of the Financial Markets Institute, Private Equity at Broad is dedicated to the professional and personal development of its members. Through this support from the Broad College of Business, the organization’s membership works toward developing a strong foundation in effective written and oral communication. Analysts are encouraged to compete together in case competitions across universities and topics.

“Our organization thrives on the energy we each bring during Tuesday meetings. This dedication is a testament to our mission of developing ourselves with a growth mindset,” Housey said of the organization’s culture.

Looking to the future, the founders of Private Equity at Broad have plans to expand the organization’s impact. With a solid foundation already established, they aim to introduce external publishing that highlights student-led research on the private equity industry and develop richer relationships with local firms. Importantly, they plan to bridge current analysts into leadership roles to ensure the organization’s continuity and innovation.

For industry professionals in private equity, Private Equity at Broad offers a unique platform to share expertise and connect with motivated students. With a focus on building strong alumni partnerships, Khamis and Kataev are creating a legacy that ensures the program’s continuity and fosters innovation, paving the way for future analyst leaders.

Altogether, Broad students benefit from unparalleled opportunities to develop technical skills, gain industry insights and grow their professional networks. Through engaging weekly meetings, case studies and LBO modeling exercises, Private Equity at Broad equips Michigan State University students to excel in finance and emerge as future leaders in the industry.