1st Edition of the L’Oréal Academy at HEC Paris on Private Equity Funds

January 2025 marked the launch of the L’Oréal Academy at HEC Paris on “Corporate Growth Fueled by Deals with Private Equity Funds.” Designed to provide Master’s students with hands-on exposure to LBOs and Private Equity, this exclusive three-week program offered a unique opportunity to work alongside L’Oréal’s top executives and gain insights into an area of finance that has become essential to global economies and corporate strategy.

Private Equity: A Strategic Growth Lever for Corporations

Corporate leaders must balance organic growth with strategic acquisitions to remain competitive. Given their significant role across industries, Private Equity funds have become natural counterparts for corporate groups in today’s financial landscape.

To address this evolving dynamic, HEC Paris developed the “Corporate Growth Fueled by Deals with Private Equity Funds” Academy under the academic direction of Professor Olivier Levyné, Associate Professor in Accounting and Management Control.

This Academy was designed to equip Master in Management students with advanced financial and analytical skills essential for working as analysts at financial sponsors. It also trained them to negotiate transactions from a corporate perspective with Private Equity funds. As highlighted in the course syllabus, the program offers a deep dive into the Private Equity mindset, enabling students to navigate the complexities of financial structuring, deal-making, and exit strategies.

Mastering the Private Equity Mindset in Three Weeks

With 44 highly motivated students, this first edition was one of the largest Academies of the 2025 cohort. The curriculum combined academic rigor with real-world application, offering students an in-depth understanding of:

•    LBO structuring and deal valuation
•    Private Equity investment strategies
•    Debt financing and capital raising from Private Equity funds
•    Corporate acquisitions and financial sponsor transactions

Pedagogical Objectives: What Students Learned

By the end of the program, students had developed expertise in:

•    The strategic role of Private Equity in global economies
•    The principles of fund-raising by financial sponsors
•    The professional structuring of leveraged buyouts, including advanced accounting principles
•    Key success factors in negotiations between Private Equity funds and corporations
•    Exit strategies for financial sponsors, including IPOs, strategic sales, and secondary LBOs
 

A Unique Hands-On Experience with L’Oréal’s Senior Executives

The program launched on January 6 at L’Oréal’s Global Headquarters in Clichy, where students were welcomed by Julien Brossard, Talent Acquisition Manager, and Tanguy Leloup, Head of M&A Origination. The two executives introduced students to three real-world M&A case studies, challenging them to develop acquisition strategies that aligned with L’Oréal’s business objectives.

Throughout the three weeks, students participated in intensive training sessions covering topics such as financial modeling, valuation techniques, debt financing structures, and negotiation strategies.

The Academy culminated in group pitch presentations at L’Oréal’s offices, where students applied their knowledge in a high-stakes setting. They identified acquisition targets that aligned with L’Oréal’s strategic growth objectives, conducted detailed comparisons between corporate and Private Equity acquisition strategies, and structured investment theses that positioned L’Oréal’s offer as a more attractive alternative to that of a Private Equity fund. L’Oréal executives commended the students on their analytical rigor, strategic thinking, and ability to craft compelling investment proposals.

Olivier Levyné, Associate Professor in Accounting and Management Control - L’Oréal’s Global Headquarters in Clichy - January 6 2025 

Key Takeaways: What Students Gained

Beyond technical expertise, the Academy provided students with firsthand exposure to corporate decision-making at the highest level and valuable career insights on:

• Advanced financial modeling and valuation expertise
• Practical experience advising a global industry leader
• A deep understanding of Private Equity’s role in corporate growth
• Career opportunities in finance, PE, and M&A at L’Oréal
• Strengthening the HEC Paris x L’Oréal partnership

Strengthening the HEC Paris x L’Oréal Partnership

The L’Oréal Academy at HEC Paris demonstrates the power of academic-industry collaboration, bridging the gap between classroom learning and real-world practice. By partnering with L’Oréal, HEC Paris continues to provide its students with exclusive opportunities to develop high-impact careers in finance, strategy, and M&A.

We look forward to future editions of the L’Oréal Academy at HEC Paris.