Investment Banking and Private Equity

3 units

Prerequisite: Corporations Law. (Securities Regulation is recommended but not required). The financial services industry in the United States has transformed since the financial crisis of 2007-09. This transformation has been marked by the demise of the major investment banks and the related rise of a set of powerful players known as private equity firms. This course will consider these developments, examining the history, structure, and regulation of investment banks and private equity firms and the industries in which they operate. Students will be introduced to ongoing debates in which investment banks and private equity firms feature, including those concerning investor protection, capital formation, corporate governance, and financial stability. The course will also examine these firms' roles in core corporate and securities transactions, including initial public offerings (and IPO-equivalent transactions), mergers and acquisitions, and going-private transactions. Attention will also be paid to evaluating proposals for regulatory reform. Grades will be based on a final exam plus participation and attendance.