With an underlying educational mission, the Kenan-Flagler Private Equity Fund is the only student-run fund associated with a top-tier business school that seeks to provide real returns to its limited partners. Currently, the Kenan-Flagler PE fund has more than $4.4 million of committed capital under management across two funds.
The fund management team is comprised of 12 students—a mixture of MBAs and BSBAs chosen in a competitive interview process. All fund members serve a three-semester term with the program.
In addition to active investment activities, students participate in a series of private equity courses, lectures, and events for which they receive official school credit. Students on the fund manage all aspects of the investment cycle—raising capital, sourcing deals, performing due diligence, making investment decisions—and present these decisions to a Faculty/Advisory Committee and the Board of Directors. This autonomy provides students with a chance to experience the real-world responsibility associated with making investment decisions for their partners.
The Kenan-Flagler Private Equity Fund invests opportunistically in a strategic mix of buyout, mezzanine debt, growth capital and venture capital transactions. Deals are sourced through limited partners and a network of UNC Kenan-Flagler alumni who are active private equity professionals. In its short history, the Fund has made investments in 26 portfolio companies, exited 5 portfolio companies, and received 5 dividend recapitalizations. Selected investments include: Apollo Investment Corporation, Clearside Biomedical, iRhythm, Jacob Ash Holdings, Revolution, Sharecare, and TransEnterix.
The Fund seeks to achieve outstanding results in the following core categories:
- Returns - First and foremost, the Fund seeks to achieve superior returns for its limited partners.
- Educational opportunities - The Fund will provide students with a mechanism to gain invaluable hands-on private equity investment experience.
- Career advancement - The Fund will enable student managers to broaden their personal network in the private equity industry and develop relationships that may lead to career opportunities.
- Industry profile - The Fund seeks to boost UNC Kenan-Flagler's profile in private equity and venture capital. This exposure will accelerate efforts to create career opportunities for students and deepen access to deals generating attractive returns for its investors.
Visit the Kenan-Flagler Private Equity Fund website