LL4CQE      Half Unit
Legal Aspects of Private Equity and Venture Capital

This information is for the 2025/26 session.

Course Convenor

Prof Sarah Paterson

Simon Witney

Availability

This course is available on the Executive Master of Laws (ELLM). This course is not available as an outside option to students on other programmes.

Students should note that private equity is a specialist asset class, and the basics of debt and equity are not covered in LL4CQE. The course is, therefore, recommended for students who are taking other, relevant corporate law and financial law courses, or who have relevant experience.

Course content

This module will equip students with a detailed understanding of the legal structures and issues arising in international private equity and venture capital.  It is founded on deep academic analysis of pertinent theoretical and legal issues complemented by insights from relevant practitioners.  It has a UK focus but includes relevant aspects of European Union law with comparative global perspectives.

The module will cover:
• Private equity and venture capital fund raising and fund structuring, including the usual terms of private equity funds.
• The European regulatory framework.
• The structure and terms of venture capital investments and buyouts.
• The corporate governance of private equity-backed companies.
• The rise of different providers of debt finance and how that has impacted the LBO financing transaction, and wider implications. 

 

Teaching

Students will receive approximately 30 hours of contact time.

Formative assessment

Students will have the option of producing a formative essay of 2,000 words to be delivered one month from the end of the module’s teaching session by email.

 

Indicative reading

Core texts:

• Gilligan, J. and Wright, M., Private equity demystified: An explanatory guide, ICAEW, 2014 (freely available at  https://www.icaew.com/technical/corporate-finance/financing-change/private-equity-demystified-an-explanatory-guide-160216).  

• Hale, C. (ed.), Private Equity: A Transactional Analysis, 4th edition (Globe Law and Business, 2020).

• Witney, S., The corporate governance of private equity-backed companies, 2017, PhD thesis (freely available at: http://etheses.lse.ac.uk/3557/).

Further readings will be posted on Moodle.

Assessment

Oral examination (100%)


Key facts

Department: LSE Law School

Course Study Period: Autumn Term

Unit value: Half unit

FHEQ Level: Level 7

CEFR Level: Null

Total students 2024/25: Unavailable

Average class size 2024/25: Unavailable

Controlled access 2024/25: No
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Course selection videos

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Personal development skills

  • Self-management
  • Team working
  • Problem solving
  • Communication
  • Application of numeracy skills
  • Commercial awareness
  • Specialist skills