NHH/FFN Private Equity Programme

NHH – The Norwegian School of Economics and Finance Society Norway invite you to the brand new executive programme in Private Equity (PE). As a student you will have the unique opportunity to meet industry experts and leading researchers offering their insights. You will learn to analyse and understand the PE industry in all its characteristics, including the investment cycle, the fundraising cycle as well as legal and institutional aspects.

The objective is to give the students

  • an understanding of PE from a financial perspective
  • the ability to identify specific risks and opportunities that arise from investing into PE, both for venture and buyout investments,
  • and actionable capabilities when addressing ESG-issues

Who is the programme for

The programme is targeted towards experienced professionals from both the private and public sector, with an interest in how to better understand the PE industry’s financial tasks.

Relevant for

  • investors, analysts, bankers, advisors, lawyers, or persons working in a company’s treasury or finance function, journalists, regulators, or rating analysts.

The programme is particularly suitable for applicants based in Norway or Scandinavia but welcomes applicants from outside the Nordic region as well. Applicants are required to have at least three years of work experience in finance.

What you learn

The Private Equity programme is organized in three sessions covering five parts:

  • Introduction to PE and the GP-LP Relationship
  • Performance Evaluation and Contracts, including Legal Matters
  • Valuation and Deal Structures
  • Value Generation, ESG and Exiting the Investments
  • Assessment: write, present and discuss the written assignment

The first session of four days, starts by introducing the industry and its key features. It proceeds by looking at the fee structure the GPs (or managers of PE funds) charge and then delves deeper into the relationship between the GP and the LPs (investors). This session also covers Performance Evaluation, Contracts and Legal Matters. Students learn how to interpret and analyse the performance of PE funds, given the difficulties the industry poses. The scope then broadens to include contracts between the GPs and LPs and regulatory rules.

The second session, running over three days, dives into Valuation and Deal Structures. Students learn valuation techniques suited towards PE investments, both for start-ups and mature firms. In addition, the session covers how to structure complex debt structures and how to structure the contracts between the GP and the firms they acquire.

Session two also covers value generation, ESG and investment exit. How can PE firms maximise the value of the firms they acquired and how can that be done in a responsible manner? Students will get the opportunity to discuss how to optimally exit these investments given the temporary nature of the PE industry.

The third and final session, covering two days, discusses the group assignments that are the assessment method in this programme. The NHH/FFN Private Equity programme focuses on a complex field, and the assignments will cover topics related to the overall scope of the programme. Each assignment will be presented and discussed by students, lecturers and invited experts and contributors in the field

After completing the programme, candidates are expected to have achieved the following overall learning outcomes defined in terms of knowledge, skills and general competence:


The candidate has in-depth knowledge of:

  • the Private Equity industry at a macro level
  • the PE cycle, from fundraising to investing and final divestment.
  • Relevant PE laws and regulation in Norway, the EEA and EU
  • Different types of PE deals and strategies


The candidate is capable of:

  • structuring and pricing both Leveraged Buyout and Venture Capital deals and contracts.
  • selecting an appropriate exit strategy for PE deals;
  • Evaluating fund performance, both on quantitative and qualitative level;
  • Can negotiate fund terms;
  • dealing with sustainability issues within the PE industry;
  • understanding new developments within the PE industry.

General competence

The candidate is capable of:

  • communicating at an advanced level with specialists in both academia and practice about complex issues pertaining to the PE industry.
Carsten Bienz Programme Director, Assistant Professor, NHH
Yael Hochberg Professor of Entrepreneurship and Finance, Rice University


Ingrid Teigland Akay Managing Partner, Hadean Ventures
Ove Gusevik Senior Partner, HitecVision
Fredrik Korterud | LinkedIn Partner, Norvestor Equity AS
Joachim H. | LinkedIn Partner, Investor and Financial Economist
Erik Holmén | LinkedIn Partner, PwC Deals, Head of Transaction Services
Peter Hammerich Chair/Partner, BAHR AS
Lisa Karlsen Head of Leveraged Finance, Pareto
Charlotte Wallem Rakner Investment manager, Norvestor Equity AS

The programme includes nine full days of learning, organised into two weekends of four and three full days respectively, and a two day final session where students present, defend and discuss their group reports.

The programme is demanding, and completing the programme requires significant efforts from the participants through self-study and participation in groups.

The final assignment is a report written in groups of 3-4 persons. The report is presented and discussed in the final session. The written assignment is a requirement of the programme.

The group report will be conducted at an advanced level on a topic related to the overall scope of the course. The students are expected to present and defend, as well as discuss other groups’ reports in a 2-day final session.

Grading: Pass/Fail 7,5 ECTS Credits

The applicant must have a University degree or vocational education with a scope of at least three years.

Relevant professional backgrounds include being an investor, analyst, banker, advisor, lawyer, or working in a company’s treasury or finance function, journalist, regulator, or rating analyst.

The programme is particularly suitable for applicants who want to understand and familiarize themselves with the Nordic and Norwegian market. Applicants from outside Scandinavia are welcome to apply.

Applicants are required to have at least three years of relevant work experience.

Practical information and dates

Starting date: 31 August 2023
Location: Oslo
Application deadline: 1st June 2023

Session 1: 31 August – 3 September 2023
Session 2: 19 – 21 October 2023
Session 3: 7 – 8 December 2023

Part time programme, with English as working language

Admissions for the Autumn 2023 programme are registered online via NHH – Norwegian School of Economics. Read more HERE.

Tuition fees/additional costs

Tuition fees: NOK 70 000 (includes all programme tuition)

In addition: Travel expenses, full board and literature (text books).