Private equity industry gets flexible on MBA requirement; Ex-Gores exec Fredston brings debut fund to market; Vistria’s Nesbitt says diversity must be “authentic”
I was wrong about the blue wave, Hubsters. I’m happy that people exercised their right to vote but I’m still recovering from the last election.
One of the biggest victories came in Illinois where J.B. Pritzker, a Democrat, defeated Republican Governor Bruce Rauner. Pritzker, heir to the Hyatt hotel fortune and a venture capitalist, pumped $171.5 million into his campaign over the last two years, the Chicago Tribune said. Rauner, a former GTCR executives, also invested heavily in his own campaign.
There wasn’t much election talk at the Second Annual Women in Alternatives Career Forum yesterday. Executives did discuss whether it’s still worth going to business school if you want a career in private equity.
B-school applications have dropped. A survey of 1,087 graduate business programs found that 70 percent of two-year full-time MBA programs in the U.S. saw a decline in applications this year, CNBC said last month. MBA much? Julia Kahr, a senior managing director in the corporate private equity group at Blackstone, said that for the most part “people have MBAs.” But there are still executives in PE “who are super-charged, who go straight through” and do not have the degree.“In private equity, business school is not a must,” Kahr said to a room filled with PE executives, as well as college and business school students. Find out what other PE execs think here. Hubsters, we’ve talked about the rewards of business school. Are you more open to hiring someone without an MBA? Why or why not? Email your thoughts to me at [email protected]
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