Private Equity Firms & Universities: What’s the Relationship?
By BankersBall on Feb 26, 2008 in Cube Life, Ivy League, Private Equity, Rankings
Which universities did private equity professionals at some of the largest firms attend?
We came across a post at the College Confidential forum (posted by user Alexandre) with some excellent information collected from public profiles of professionals at some of the largest private equity firms, including Blackstone, Carlyle, Bain Capital, Silverlake Partners, Warburg Pincus and Providence Equity Partners. We decided to add the latest U.S. News rankings for both undergraduate and graduate schools to see if we could draw some conclusions, assuming that the question we are trying to answer is something along the lines of — which schools do PE firms recruit from, or considered another way — which schools are “represented” according to their rank in the field of private equity?
Of course we realize there are tons of factors influencing proportional representation in terms of rank, including geographic location of the school, self-selection (i.e. Wharton), class size, etc. For instance, some of the top schools were not represented in the data at all, like Cal Tech, MIT and Johns Hopkins — as you can see, self-selection plays a big part.
Check out the two columns at the far right — they indicate the difference in US News Rank vs. “Real” rank (Rank as observed in publicly available profiles of the top firms).
Thoughts? Meaningful? Meaningless?
| Rank Based on Under- grad. Repres. |
Rank Based on Grad Repres. |
Undergrad / Graduate | Under grad. |
Grad. | Total | US News Under grad. Rank (2008) |
US News MBA Rank (2008) | (Underst.)/ Overst. of US News Ranking Relative to Actual Placement Ranking (Undergd) |
(Underst.)/ Overst. of US News Ranking Relative to Actual Placement Ranking (MBA) |
| 1 | 1 | Harvard | 62 | 165 | 227 | 2 | 1 | (1) | 0 |
| 2 | 2 | U Penn | 61 | 52 | 113 | 5 | 3 | (3) | 1 |
| 3 | 20 | Princeton | 35 | 1 | 36 | 1 | n/a | 2 | n/a |
| 4 | 9 | Dartmouth | 27 | 11 | 38 | 11 | 7 | (7) | (2) |
| 5 | 13 | Duke | 24 | 7 | 31 | 8 | 12 | (3) | (1) |
| 6 | 14 | Cornell | 23 | 6 | 29 | 12 | 14 | (6) | 0 |
| 7 | 12 | Yale | 22 | 8 | 30 | 3 | 14 | 4 | 2 |
| 8 | 14 | George- town |
21 | 6 | 27 | 23 | 25 | (15) | 11 |
| 9 | 14 | Berkeley | 20 | 6 | 26 | 21 | 8 | (12) | (6) |
| 10 | 3 | Stanford | 17 | 48 | 65 | 4 | 2 | 6 | (1) |
| 11 | 8 | U Michigan | 17 | 14 | 31 | 25 | 11 | (14) | 3 |
| 12 | 20 | Brown | 16 | 1 | 17 | 14 | n/a | (2) | n/a |
| 13 | 4 | Columbia | 15 | 33 | 48 | 9 | 9 | 4 | 5 |
| 14 | 10 | U Virginia | 12 | 9 | 21 | 23 | 12 | (9) | 2 |
| 15 | 6 | NYU | 11 | 21 | 32 | 34 | 10 | (19) | 4 |
| 16 | n/a | Boston College | 10 | 0 | 10 | 35 | 39 | (19) | n/a |
| 17 | 10 | UT Austin | 9 | 9 | 18 | 44 | 18 | (27) | 8 |
| 18 | 6 | North- western |
7 | 21 | 28 | 14 | 5 | 4 | (1) |
| 19 | 17 | UNC Chapel Hill | 7 | 4 | 11 | 28 | 18 | (9) | 1 |
| 20 | n/a | Emory University | 6 | 0 | 6 | 17 | 20 | 3 | n/a |
| 21 | 5 | U Chicago | 6 | 24 | 30 | 9 | 5 | 12 | 0 |
| 22 | n/a | U of Notre Dame | 6 | 0 | 6 | 19 | 39 | 3 | n/a |
| 23 | n/a | Williams College | 6 | 0 | 6 | 1* (ranked in liberal arts) | n/a | n/a | n/a |
| 24 | n/a | Middlebury College | 5 | 0 | 5 | 5* (ranked in liberal arts) | n/a | n/a | n/a |
| 25 | n/a | Syracuse University | 5 | 1 | 6 | 50 | n/a | (25) | n/a |
| 26 | 17 | UCLA | 5 | 4 | 9 | 25 | 16 | 1 | (1) |
| 27 | 21 | Vanderbilt | 5 | 0 | 5 | 19 | n/a | 8 | n/a |
| 28 | 21 | Washington & Lee University | 5 | 0 | 5 | 15* (ranked in liberal arts) | n/a | n/a | n/a |
| 29 | 19 | SUNYs | 12 | 3 | 15 | 82, 96, 118 | n/a | n/a | n/a |
| 30 | n/a | Air Force, Naval & Military Academies | 10 | 0 | 10 | 20, 22 | n/a | n/a | n/a |
| Source: Alexandre @ College Confidential Discussion Forum. Bolded schools = graduate schools with known private equity/venture capital centers. N/a = no MBA program or not in top 50; or missing data for comparison. | |||||||||


On Feb 26, 2008, Ravi said:
Typo for Penn USNews undergrad ranking… it’s still #1, not 5. Princeton doesn’t have ugrad b-school.
On Feb 26, 2008, BankersBall said:
“Undergrad” ranking is rank for the undergrad program as listed here:
http://colleges.usnews.rankingsandreviews.com/usnews/edu/college/rankings/brief/t1natudoc_brief.php
Not for an undergrad finance program.
On Mar 6, 2008, Voxster said:
It would be interesting to look at these data in the context of each school’s number of students. On a per-capita basis, looks like Dartmouth might rank #1.
On Jul 1, 2008, samdany said:
Tech Aahen university computer science depotnment…..in Germany