PRIVATE EQUITY AND VENTURE CAPITALASIA

October 1417, 2009 beijing, China

,
,
.

.
,

www.exed.hbs.edu/programs/pevcch/
http://edp.sem.tsinghua.edu.cn

Redefining Investment Strategies

As investors seek opportunities in Asia and other emerging markets, they are confronted with
a global recession, a worldwide credit crisis, and a breakdown of the international financial
system. Leading investors realize that traditional approaches, no matter how successful in
the past, no longer will suffice. Now private equity groups must adapt to evolving cycles and
markets or risk being surpassed by their rivals. While these pressures are transforming the
private equity industry worldwide, nowhere do they have more impact than in Asia. If investors,
entrepreneurs, and intermediaries are to navigate this shifting landscape, they must acquire an
in-depth understanding of the complex dynamics that are redefining the world of private equity.
To this end, the School of Economics and Management, Tsinghua University and Harvard
Business School jointly offer Private Equity and Venture CapitalAsia. This program helps you
seize opportunities, optimize investment portfolios, negotiate better deals, and increase returns
on investment. In addition to honing your analytical and decision-making skills, by exploring
best practices around the globe, you will master innovative approaches required to manage
through the downturn and emerge better equipped to thrive in a recovering economy in Asia
and beyond. At the same time, this stimulating program offers the invaluable opportunity to
develop ongoing relationships with top industry leaders.

www.exed.hbs.edu/programs/pevcch/
http://edp.sem.tsinghua.edu.cn

AN INTEGRATED
EDUCATIONAL PARTNERSHIP
The School of Economics and Management, Tsinghua
University and Harvard Business School have joined
academic forces to offer the Private Equity and Venture
CapitalAsia program, which addresses key challenges
that face private equity firms in rapidly emerging economies.
Applying the principles of academic rigor, diversity, and
impactful learning, this powerful educational alliance enables
the outstanding faculty team to deliver a comprehensive
three-day learning experience.
The history of the School of Economics and Management,
Tsinghua University (Tsinghua SEM) dates back to 1926 as
the Department of Economics and to 1979 as the Department of Economics and Management Engineering. In 1984,
Tsinghua SEM was established as one of the first business
schools in China. Currently, Tsinghua SEM has a total of
136 faculty members and more than 4,000 students, offering
a variety of academic programs at undergraduate, graduate
(including MBA/EMBA), and doctoral levels. With eight
departments and several research centers, Tsinghua SEM
contributes academic knowledge that fuels the Chinese
economic renaissance and cultivates business leaders for
China and the world.
For more than a century, the mission of Harvard Business
School (HBS) has been to educate leaders who make a
difference in the world. Renowned for its legacy of innovation,
HBS introduced the case method to management education,
developed the concept of executive education, and created
the worlds first MBA program. A global network of five
research centers on four continents extends the Schools
groundbreaking research efforts to the international marketplace. Founded in 1908, HBS is a longstanding world leader
in redefining the nature of management education, shaping
the practice of business in every industry, and inventing the
future of business.

LANGUAGE
To ensure the most comprehensive learning experience,
the Private Equity Venture CapitalAsia program is taught
in both English and Chinese with translation. Participants
will preselect either Chinese or English for their classroom
materials. When forming the discussion groups, program
administrators consider each senior executives language
capabilities to ensure optimum group interaction.

Private Equity and

Venture CapitalASIA
DATES: October 1417, 2009
PROGRAM FEE: $7,750 USD
LOCATION: Tsinghua SEM
Beijing, China

CURRICULUM
Private Equity Globalization
When making investments around the world, nothing
should be left to chance. As you explore the dynamics
of global capital and global companies, you will improve
your ability to:

Manage a multinational fund versus one run from a

single office

Adjust your investment strategies for the varying

demand-and-supply dynamics of different countries

and regions

Program Objectives
With geographic barriers eroding but liquidity rapidly
drying up, investment opportunities in Asia and other
countries have become more difficult to price for
growth and risk. Investors with access to cash, who
quickly can spot the best opportunities, but maintain
judgment that comes only from education and
experience will reap the rewards.
Private Equity and Venture CapitalAsia enhances
your expertise in todays dynamic global markets.
As a result, you will be prepared to establish the
infrastructure, portfolio, and decision-making processes
critical to maximizing return on your investments.

Assess the impact of traditional management

practices and the localization of investments

Anticipate exit difficulties and other risks

Emerging Markets
New high-growth markets like Asia bring a wealth of
opportunities, but often require a different investment
style. As you delve into the complexities of emerging
market investments, you will learn how to:

Identify new funding opportunities

Embrace earlier-stage investments
Understand the vast differences between fundraising
and investing efforts

Make decisions that take into account the distinctive

financial and cultural characteristics of a country or
region

The Implications of Both Firm and Fund Size

Are your investment strategies aligned with the size
of your firm and your fund? By addressing the unique
challenges faced by firms at different stages of growth,
the program helps you to:

Understand how the size of your firm or fund

affects the perceptions of investors, target-company

managers and owners, as well as the broader
investment community

Explore how firm and fund size can influence deal

sourcing and selection, enterprise valuation, portfolio

mix, and the management of portfolio companies

PARTICIPANTS
Partners and principals from private equity and venture
capital firms; entrepreneurs in the process of receiving
capital and/or structuring capital funds; professional
intermediaries providing services such as banking,
accounting, or legal counsel to the industry.

THE FACULTY
This joint program is taught by a core faculty of Tsinghua SEM and HBS professors
who are skilled educators, groundbreaking researchers, and award-winning authors.
Faculty leverage their business expertise and field-based research to create
new knowledge and enduring concepts that shape the practice of management.
The result is a teaching team that exposes participants to multiple perspectives,
challenging their thinking on many levels. Please visit www.sem.tsinghua.edu.cn
or www.exed.hbs.edu for more detailed biographies.
JOSH Lerner, Jacob H. Schiff Professor of Investment Banking at Harvard
Business School. Member of the Finance and the Entrepreneurial Management
Units; faculty cochair of Private Equity and Venture CapitalAsia. Research areas:
structure and role of venture capital and private equity organizations; the impact of
intellectual property protection, particularly patents, on the competitive strategies of
firms in high-technology industries.
LI Jin, Associate Professor of Business Administration at Harvard Business School.
Member of the Finance Unit; and faculty cochair of Private Equity and Venture
CapitalAsia. Research areas: empirical corporate finance, including compensations
of corporate managers, and asset pricing, including the comparison of securities
markets across countries. Current research: trading patterns of institutional investors
such as hedge funds, mutual funds, and pension.
LI Liao, Associate Dean. Director, EMBA Program. Professor, Department of
Finance, School of Economics and Management, Tsinghua University; and faculty
cochair of Private Equity and Venture CapitalAsia. Research Areas: Corporate
Finance and Corporate Strategy, Private Equity and Venture Capital, New Business
Model and financing, M&A.

ADMISSIONS
APPLICATION PROCESS
Candidates can apply to the program through Tsinghua SEM or HBS. Applications are requested at least six weeks
before the program start date. Qualified candidates are admitted on a rolling, space-available basis, and early
application is encouraged.
ADMISSION REQUIREMENTS
Admission is selective and based on professional achievement and organizational responsibility. No formal
educational requirements apply. Executive Education programs enhance the leadership capacity of the managers
enrolled as well as their organizations, and full commitment is expected from both. While participants devote
time and intellect to the learning experience, sponsoring companies agree to assume fees, provide for reasonable
expenses, and relieve individuals of their work responsibilities during the program.
PROGRAM FEE
The program fee covers tuition, books, case materials, accommodations, and most meals. Payment is due within
30 days of the invoice date. If admission is within 30 days prior to the start of the program, payment is due upon
receipt of the invoice. Cancellation policies are outlined in the information provided to applicants upon admission.
FOR MORE INFORMATION, please contact:
TSINGHUA SEM
Ms. Eliza Zheng
Director of International Executive Programs
Telephone: + 86 10 6279 2433
Fax: +86 10 6279 2986
Email: zhengyh2@sem.tsinghua.edu.cn
http://edp.sem.tsinghua.edu.cn

HARVARD BUSINESS SCHOOL

Ms. Bobbi Carrey
Portfolio Director
Executive Education
Telephone: +1 617 384 5518
Fax: +1 617 496 2900
Email: bcarrey@hbs.edu
www.exed.hbs.edu

PRIVATE EQUITY AND VENTURE CAPITALASIA

OCTOBER 1417, 2009 beijing, China

Ms. Nancy DellaRocco, Harvard Business School, Soldiers Field, Boston, MA 02163-9986 U.S.
2009

In accordance with Harvard University policy, Harvard Business School does not discriminate against any person on the basis of race, color,
sex or sexual orientation, gender identity, religion, age, national or ethnic origin, political beliefs, veteran status, or disability in admission to,
access to, treatment in, or employment in its programs and activities. The following person has been designated to handle inquiries regarding
the nondiscrimination policies: Ms. Nancy DellaRocco, Harvard Business School, Soldiers Field, Boston, MA 02163-9986 U.S.
Programs, dates, fees, and faculty are subject to change. 2009 President and Fellows of Harvard College.