Private Equity Lab is an experiential learning course that allows Kellogg students the opportunity to be placed in a quarter-long internship with a local or national private equity firm. During that time, you will be exposed to the day-to-day working life of the fund, and will assist with deal selection, due diligence and/or investment efforts. Enrollment in the course is by application only.
Apply for Private Equity Lab
Professor David Stowell
- Meeting with Professor Stowell. Each student will meet with Professor Stowell during the quarter to provide progress updates on the assigned project and feedback regarding the process.
- Required readings must be completed during the quarter.
- Students are expected to work two days each week with the private equity fund. This work combined with other course requirements translates to 150-200 hours during the quarter.
- A project summary of the work completed for the fund must be submitted at the end of the quarter.
- Students will meet in class only twice during the quarter, on the first and last Wednesdays in the morning.
The course grade is based on feedback from the private equity fund, attendance at meetings and the quality of the work submitted to Professor Stowell.
This opportunity will be particularly beneficial to students who do not have extensive private equity experience but would like to pursue a career in the field. Students with previous private equity experience are also welcome to apply.
Students must have completed the following:
- Accounting for Decision Making (ACCT-430 or ACCT-431); or
- Finance II (FINC-431 or FINC-430); or
- Accelerated Corporate Finance (FINC-440)
We strongly recommend that students have completed the core requirements prior to applying to the program. We further recommend taking the following classes before, concurrently or after the lab:
- Entrepreneurial Finance and Venture Capital (FINC-445)
- Strategy and Organization (MGMT-452)
- Hedge Funds and Private Equity (FINC-931)
- Financial Decisions (FINC-442)
- Corporate Restructuring (FINC-448)
- Derivative Markets I (FINC-465)
- Financial Strategy and Tax Planning (FINC-447)
- Investment Banking (FINC-461)
Registration is by application only. Professor Stowell, in consultation with the sponsoring firms, makes the final selections.
Most participating firms are in the Chicago area, but some are not. Students who are sponsored by local firms will work at the firms' offices. Students sponsored by firms outside of the Chicago area will work remotely. Often firms based outside of Chicago will arrange for their students to be flown out to meet the fund managers and present their final products.
Application Instructions and Materials:
A list of participating sponsor firms for the current quarter is included with the electronic application. This list will be continuously updated, and students should check the list for updates. Once an application is submitted it cannot be modified. If you submit early, and a firm that you are interested in applying to is added to the list, you will need to submit a new application. All applications for this course will only be accepted via this online application.
Applicants will be notified whether they have been selected approximately one week prior to the start of the quarter. We recommend bidding for classes as if you will not be taking Private Equity Lab, yet be prepared to drop a course if accepted to the program. Since the demands of this course are significant, it is recommended that class schedules be kept flexible since private equity firms often have investment committee meetings on Mondays, which should be attended, if possible.
PLEASE NOTE: (1) STUDENTS CANNOT APPLY TO BOTH THE VENTURE LAB AND PRIVATE EQUITY LAB DURING THE SAME QUARTER, AND (2) THIS COURSE MAY NOT BE DROPPED DURING THE QUARTER.