Universitat Internacional de Catalunya
Portfolio Management
Teaching staff
Agreed with the students.
Introduction
Understand and asses the different variables behind managing the portfolio from different investing perspectives.
Pre-course requirements
Minimum financial background.
Objectives
Students will build the capabilities to understand and asses the different variables behind managing the portfolio from different investing perspectives: Private Equity (PE), Venture Capital (VC) and Business Angels (BA), especially those related to the creation of value.
Competences/Learning outcomes of the degree programme
- CB10 - Possess the learning skills that enable continued study in a manner that will be largely self-directed or autonomous.
- CB7 - Apply the knowledge acquired and the ability to solve problems in new or unfamiliar settings within broader (or multidisciplinary) contexts related to one's field of study.
- CE1 - Devise appropriate financial planning from the initial phase of a startup to its later phases of business consolidation, with consideration for business analysis, business models and economic and financial analysis.
- CE6 - Analyse a startup’s accounts and finances, its financial modelling and company valuation, and understand what constitutes a successful corporate transaction.
- CG4 - Contrast ideas and make decisions with methodological rigour, being prepared to take full responsibility for these decisions.
- CT2 - Have the capacity to reflect and think critically in interdisciplinary contexts.
Learning outcomes of the subject
Analyse portfolio management strategies across PE, VC, and Business Angels.
Assess investment opportunities and portfolio decisions under uncertainty.
Evaluate value creation and manage underperforming investments.
Apply financial analysis and valuation across the investment lifecycle.
Examine governance, management teams, and investor relationships.
Communicate and defend investment decisions using real-world cases.
Syllabus
SESSION 1
Chapter 1
Portfolio Management. What is Portfolio Management?
SESSION 2
Chapter 2
Investment Models & Strategies: PE, VC and BA.
SESSION 3
Chapter 3
Value Creation. How to deal with value.
SESSION 4
Business case session 3: Value Creation.
SESSION 5
Chapter 4
Managing underperformance.
SESSION 6
Chapter 5
Further investment rounds & investment vehicles.
SESSION 7
Business case sessions 5 and 6: Managing underperformance & Further investment rounds.
SESSION 8
Chapter 6
Managing the Management Team. Profiles & Approach. With a a business case.
SESSION 9
Chapter 7
Governing bodies. Board of Directors.
SESSION 10
Business cases sessions 8 and 9: Managing the Management Team & Governing bodies.
SESSION 11
Chapter 8
Other Approaches: Family offices, Small-Private VC funds, Impact Investment Funds…
Las part: Invited Speaker
SESSION 12
Chapter 9
Internal & External Relations.
Chapter 10
Where is the model going? Previous lectures and short assignment.
SESSION 13
Final project presentation.
Teaching and learning activities
In person
In-class participation, role-play activities, working business cases and material given in class.
Group-work activities where students work to prepare presentations of a business case to the whole class.
Problem-based learning in-class and activities.
Evaluation systems and criteria
In person
20% Class contribution.
30% Team/individual assignments.
50% final project. Compulsory pass the final project to pass the course. The rest of the class will also have an active role in the presentation of the other groups, and will account for their final project grade.
Bibliography and resources
Specific material and lectures will be facilitated in class.
“Kauffman Foundation Report: Poor Long-Term Returns from Venture Capital” Ewin Marion Kauffman Foundation, 2012
“Is Venture Capital Broken?” Scott D. Anthony (HBR), 2012
“Institutional LPs must accept blame for poor long-term VC returns, says new Kauffman report” Privateequitywire, May 8, 2012
Other Bibliography used in class presentations by the teacher:
“Where is my Value?”, Felipe Muntadas-Prim, UIC. July 2019
“Considerations for Management Teams in Private Equity Buyouts”, Addisons. October 10, 2018
“Study Demolishes Private Equity's Claim Of Beating The Market”, Daniel Fisher, Forbes Staff. Aug 7, 2016
“LP Corner: The Four Phases in the Life of a Private Equity Fund”, Allen Latta. June 24, 2017.
“The Biggest Challenge In VC Investing — The "Follow-On" Decision”, Roger Ehrenberg, Information Arbitrage. April 18, 2011.
“The Life Cycle of a Private Equity or Venture Capital Fund”, Alexander J. Davie. June 29, 2017.
“Business angels or Venture Capital”, Daisy de Vries. December 1, 2015.
“Business Angels frente a capital privado: ¿qué opción de financiación es mejor para una startup?”, Laura Bartolomé. April 16, 2018.
“¿Qué tipos de inversores hay? Del Business Angel al Venture Capital”, Javier Megias. October 10, 2013.
“Private equity exit excellence getting the story right.” McKinsey & Co. August 2019.
“What does an LP look for in a venture capital fund manager?” The Equity Kicker. December 15, 2010.
“Building trust: the key to a successful LP-GP relationship.” Bronwyn Bailey, Vice
President, Research & Investor Relations, American Investment Council. 14 Feb 2018.
“The Power Pendulum: GP and LP Dynamics in Private Equity”. Christina Carroll. September 01, 2013.