MSc Finance and Private Equity

Overview

Introduction

Introduction

This unique programme offers unparalleled access to leading private equity researchers and practitioners who actively participate in the development of the field.

The programme is built upon the highly successful MSc Finance (full-time) programme, with the addition of a mandatory course in private equity. You'll focus on topics including the structure of private equity (PE) funds and how PE can be used in start-ups, in scaling-up cash flow businesses, and in restructuring firms facing financial distress.

As well as lectures, discussion and case studies, you'll benefit from regular practitioner-led teaching. You'll have the opportunity to gain deeper practical insight and links to the City, and to meet and network with the MSc Finance (part-time) students throughout the year.

Graduates of this highly-respected programme benefit from excellent career prospects in investment banks, consultancies, and a variety of financial institutions.

Entry requirements

Undergraduate degree

Upper second class honours (2:1) degree or equivalent in any discipline and good quantitative skills. Admission to this programme is very competitive. In previous years the majority of students accepted into the programme had obtained 1st class honours degrees or the equivalent.

Quantitative skills

The mathematics used in the programme includes basic calculus and statistics, so applicants are also required to have studied a minimum of A level Mathematics (or its equivalent).

GRE/GMAT

GMAT or GRE is required for all applicants without a UK undergraduate degree (GMAT strongly preferred). See more information below under "Additional tests".

Professional experience

Work experience (either through internships or full employment) is not a pre-requisite; however, applicants who have some professional experience should include this in their application, as it may strengthen their application.

English language

You may also have to provide evidence of your English proficiency, although you do not need to provide this at the time of your application to LSE.

See our English language requirements.

Please select your country from the dropdown list below to find out the entry requirements that apply to you.

Overseas
Additional tests

Overseas

English language requirements

The English language requirement for this programme is Standard. Read more about our English language requirements.

Competition for places at LSE is strong. So, even if you meet the minimum entry requirements, this does not guarantee you an offer of a place.

However, please don’t feel deterred from applying – we want to hear from all suitably qualified students. Think carefully about how you can put together the strongest possible application to help you stand out from other students.

Programme content

The Department of Finance enjoys a pre-eminent reputation for the excellence of its teaching and research. Our diverse faculty and student body come from across the globe, providing a rich environment in which to research and study finance, ensuring that we continue to rank alongside the most highly-rated departments in the world.

We believe that a sound basis in academic theory is crucial for long-term success. However, theory is symbiotic with application. The programme begins with core courses that give a thorough grounding in the principles of finance seen both in general and in real world applications. In the second term, you deepen your specific knowledge of private equity by taking a dedicated course taught by the Programme Director of MSc Finance and Private Equity. Our optional courses then provide deeper practical insight into finance as practice by leading financial institutions.

Pre-sessional programme

All registered students will attend a full-time four-week pre-sessional programme starting in early September. The essential pre-sessional course consists of preparatory academic classes, the Finance Accelerator, and social events.

Pre-sessional academic classes cover revision and introduction to core quantitative mathematics, statistics and interpreting financial statements, ensuring all students are able to tackle the material in the first term’s core courses.

The pre-sessional also involves a number of career skills sessions to best prepare students for the competitive financial services sector job market – read more about these under the “Graduate Destinations” section.

Year 1

Year 1

The foundation of the programme is built in the first term with study of two core courses: Corporate Finance and Asset Markets. Corporate Finance begins with the firm's investment decision and the cost of capital. This in turn is linked to the firm’s financial structure and market environment where the firm operates. It studies in detail major financial decisions including dividend choice, going public, mergers and acquisitions, and restructuring in financial distress. Asset Markets takes you from fundamental concepts to up-to-date applications in fixed-income, equity and derivatives markets.

In the second term, you'll deepen your specific knowledge of private equity by taking a mandatory course in private equity, in which you'll complete a 6,000-word structured project.

Additionally, during the second term you'll take three optional half unit courses on topics such as financial systems, risk management, portfolio management methods, advanced derivatives and structured financial products, fixed income, advanced corporate finance and applied financial valuation.

MSc comparison: an overview of all the master’s programmes

FM422

One unit

Corporate Finance

FM423

One unit

Asset Markets

FM410

Half unit

Private Equity

FM405

Half unit

Fixed Income Securities and Credit Markets

FM406

Half unit

Topics in Portfolio Management

FM407

Half unit

Mergers, Buyouts and Corporate Restructurings

FM408

Half unit

Financial Engineering

FM409

Half unit

Risk Management in Financial Markets

FM412

Half unit

Quantitative Security Analysis

FM414

Half unit

Corporate Investment and Financial Policy

FM471

Half unit

Sustainable Finance and Impact Investing

FM476

Half unit

Entrepreneurial Finance

FM477

Half unit

International Finance A

For the latest list of courses, please go to the relevant School Calendar page.

A few important points you’ll need to know:

Please note that the nine-month and ten-month full time master's programmes are not compliant with the Bologna process, which may affect the extent to which they're recognised. For more information, see Bologna process.

We may need to change, suspend or withdraw a course or programme of study, or change the fees due to unforeseen circumstances. We’ll always notify you as early as possible and recommend alternatives where we can.

The School is not liable for changes to published information or for changing, suspending or withdrawing a course or programme of study due to events outside our control (including a lack of demand, industrial action, fire, flooding or other damage to premises).

Places are limited on some courses and/or subject to specific entry requirements so we cannot therefore guarantee you a place.

Changes to programmes and courses may be made after you’ve accepted your offer of a place – normally due to global developments in the discipline or student feedback. We may also make changes to course content, teaching formats or assessment methods but these are always made to improve the learning experience.

For full details about the availability or content of courses and programmes, please take a look at the School’s Calendar, or contact the relevant academic department.

Some major changes to programmes/courses are posted on our updated graduate course and programme information page.

Why study with us

Discover more about our department below and read our student stories and our alumni stories.

Meet the department
Why LSE

Meet the department

The Department of Finance is one of the largest and most highly respected finance groups in the UK and Europe.

With a longstanding reputation for excellence in both teaching and research, we offer various undergraduate, postgraduate and executive programmes.

Our research and teaching span the full range of financial sub-fields, including:

corporate finance
asset pricing theory
risk management
empirical analysis of capital markets
behavioural finance
portfolio analysis
derivatives pricing
microstructure
financial econometrics.

We're also closely associated with two leading research groups at LSE – the Financial Markets Group and Systemic Risk Centre, which host seminars, conferences and public lectures by renowned academics and practitioners.

Our research is regularly published in leading academic journals globally. Faculty members work closely with national and international institutions, such as the Bank of England and the World Bank, informing policy at the highest levels.

The department was ranked the top place to study finance in the Good University Guide 2024.

Learn more about our programmes and research.

Department of Finance

Overview

We welcome applications from all suitably qualified prospective students. At LSE, we want to recruit students with the best academic merit, potential and motivation, irrespective of background.

We carefully consider each application and take into account all the information included on your application form, including your:

academic achievement
additional test scores
two academic references
CV
academic statement of purpose.

See further information on supporting documents

Important information

The MSc Finance (full-time) and the MSc Finance and Private Equity are identical programmes with the exception that the course FM410 Private Equity is mandatory for MSc Finance and Private Equity students, whereas it is optional for MSc Finance students.

Therefore, you should not select one of these programmes as your first-choice and the other as your second-choice programme. Instead, you should select your preferred programme only. If the MSc Finance and Private Equity is the preferred option, you should demonstrate why you are particularly suitable for, and want to study, private equity.

Contact us

If you have any questions about the academic programme or admissions process please contact the Department of Finance Admissions team at finance.admissionsenquiries@lse.ac.uk.

701

Applications

45

Intake

16:1

2023 Ratio

Fees and funding

The table of fees shows the latest tuition fees for all programmes.

You're charged a fee for your programme. At LSE, your tuition fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It doesn't cover living costs or travel or fieldwork.

Home
Overseas

Home

£48,500

Home student fee (2025/26)

For this programme, all students pay the same tuition fees, regardless of their fee status.

Deposit

To secure a place on the programme offer holders will be required to pay a non-refundable deposit of 10% of the tuition fee.

For offers issued before May, the deposit will be due within 28 days of receiving the offer.

For offers issued from May onwards, the deadlines are as follows:

May: within 21 days
June: within 14 days
July and August: within 7 days

Fee reduction

Students who completed undergraduate study at LSE and are beginning taught graduate study at the School are eligible for a fee reduction of around 10 per cent of the fee.

Scholarships and other funding

We recognise that the cost of living in London may be higher than in your home town/city or country and we provide generous scholarships to help both home and overseas students.

We offer some needs-based awards for this programme, including the Graduate Support Scheme, Master's Awards, and Anniversary Scholarships. Competition for these awards and scholarships is strong. To apply for an award, you must have an offer of a place and submit a Graduate Financial Support application before the funding deadline.

The funding deadline for needs-based awards from LSE: 24 April 2025.

In addition to our needs-based awards, we offer scholarships for students from specific regions of the world and awards for certain subjects.

You can’t apply for a Graduate Support Scheme or LSE scholarship once you’ve joined the School.

Department scholarships

All scholarships are awarded on a rolling basis from November onwards.

WOMEN IN FINANCE SCHOLARSHIPS

Funded by: LSE Department of Finance
Value: up to £20,000
Open to: All successful female applicants. These scholarships will be awarded based on merit: the aim is to support exceptional female candidates take up their places on the programme and embark on a career in the financial sector.
Number of awards: Multiple

The scholarships will be a contribution towards tuition fees, and further information can be found on the Financial Support Office website.

ANTOINE FAURE-GRIMAUD SCHOLARSHIPS

Funded by: LSE Department of Finance
Value: up to £20,000
Open to: All successful applicants to the programme. These scholarships will be awarded based on academic merit and financial need.
Number of awards: Multiple

The scholarships will be a contribution towards tuition fees, and further information can be found on the Financial Support Office website.

Government tuition fee loans and external funding

The UK Government offers a postgraduate loan for eligible students studying for a first master’s programme. This is designed to help with fees and living costs. Some other governments and organisations also offer tuition fee loan schemes.

Find out more about tuition fee loans.

Further information

Learn more about fees and funding opportunities.

Learning and assessment

How you learn
How you're assessed

How you learn

Unlike the majority of MSc teaching at LSE, the MSc Finance courses are taught in a single three hour session, rather than a formal two hour lecture and a one hour associated class (at another time). This less formalised division between lecture and class makes it easier to teach with case studies and is also more in line with the teaching style used in business schools. The teaching allows the study of core theoretical concepts, whilst also allowing students to gain a practical understanding of the application of these concepts.

The majority of courses use case studies and practical homework problems to underpin the theory studied. In addition to the set work, you are expected to undertake a significant amount of reading and independent study throughout the year.

Since working well in a group is a key skill to develop and is particularly important to employers, some courses require you to participate in group work, for formative and/or summative assessment.

You can view indicative details for the teacher responsible for each course in the relevant course guide.

All academic faculty schedule weekly office hours in which you may visit them to discuss academic issues. In some cases you may be able to arrange a time to meet with a member of faculty outside of their office hours.

The MSc Finance Associate Programme Director acts as the main academic and pastoral supervisor for all students on the programme, and is the Academic Mentor for all students.

The Associate Programme Director works closely with the Programme Director and the Programme Manager, and is able to advise students on general issues regarding the programme.

Other academic support: at LSE, we offer many opportunities to extend your learning outside the classroom.

LSE LIFE is a great place to get advice and practise the skills you’ll need during your studies and beyond.

Through LSE LIFE, you can:

attend workshops on developing leadership skills, finding the right study/work/life balance and preparing for the world of work
develop your reading, academic writing and critical-thinking skills
gain experience of working in study groups and develop your cross-cultural communication and teamwork skills.

Disability and Mental Health Service: we want all LSE students to achieve their full potential. Students can access free, confidential advice through our Disability and Mental Health Service. This is the first point of contact for students.

Graduate destinations

Overview
Career support

Overview

Graduates of the department have excellent career prospects relative to their peers. Our MSc programmes prepare students for a range of careers in investment banking, consulting and the wider financial services sector.

Our graduates take up demanding positions across a diversity of organisations spread around the globe. Some engage in their own start-ups, others join investment banks, brokerage houses, consultancies, financial boutiques and industrial concerns.

Top employers of 2023:

JP Morgan
Morgan Stanley
UBS
Santander Corporate & Investment Banking
Citi
BCG
CICC.

Top employment locations:

London
Shanghai
Frankfurt
Hong Kong
Bangkok.

In addition to the internationally recognised research environment and academic rigour of its teaching programmes, a great advantage of studying at LSE is the reputation it holds amongst employers for producing high level graduates. Both the LSE Careers Service and the Department of Finance aim to help its students be as successful as possible on the job market once they graduate from the programme.

Career support

Students of the Department of Finance will undertake the Finance Accelerator, alongside the academic programme, to support and prepare them to enter the job market. Starting in the pre-sessional course in September, students are given a wide range of careers support, from CV workshops and application advice to sector overviews and opportunities to meet and network with recent alumni who are working in London.

We run a number of events to best prepare students for the competitive financial services sector job market:

introduction to careers in Finance
City Speaker Series
CV and cover letter workshops
case studies for consulting masterclass
1-to-1 CV review appointments
networking skills session
alumni panels and networking reception.

Throughout the year, in addition to the great service offered by LSE Careers, the Department of Finance provides tailored, individual careers support to its students via a number of highly experienced sector consultants and Associate Programme Directors, each with significant experience of working in financial services.

We also spend a training day at the Royal Academy of Dramatic Art, and host Financial Modelling workshops.

Students take part in a day of communication and personal impact workshops with the Royal Academy of Dramatic Art (RADA). This training aims to increase levels of self-awareness and help students to make a positive impression in a professional context.

Working on core skills to become effective and influential communicators, students will learn to use the body and voice to positive effect, and to develop a free and open physical presence. Students will also explore techniques for delivering a successful video interview, by becoming familiar with the particular risks and pitfalls associated with distance interviews.

Drawing on more than a century’s experience of what is required to make actors excellent communicators, you will leave RADA with the tools and techniques to help you start your professional communication on the right foot.

During September, the department invites practitioners from a range of different areas of finance to talk to our students about their roles and the skills required to succeed. These sessions offer an informal opportunity for students to learn about specific sectors within finance and to assess their fit for specific careers and roles. In previous years, the City Speaker Series has included representatives from Goldman Sachs, Moelis & Co, Rothschild - Five Arrows, Deutsche Bank and many more.

Alumni network

The department’s multiple well-established master’s programmes mean we have a large and wide-ranging alumni network. Students get direct access to this through the alumni networking events that take place during the pre-sessional, Autumn Term and Winter Term.

With alumni in top jobs and senior positions in London and overseas, this great international network has brought employment opportunities directly to our current students as former graduates and their employers look to hire the very best.

In the past we've had success connecting both current students and alumni with members of our alumni community, with the aim of forming professional networks.

Interaction with part-time students

One of the advantages of running both the MSc Finance (full-time) and MSc Finance (part-time) programmes is that there are opportunities for students to interact with each other. This is particularly useful for full-time students building their network of professional contacts.

Twice a year the department organises an MSc Finance Networking Evening where students from both programmes and alumni are able to socialise and meet.

LSE Careers is a far-reaching resource available to LSE students and alumni, and is one of the best in the UK. Once registered at LSE you'll be able to access the variety of resources and services it provides. These include:

recruitment fairs
company presentations
interview and application skills sessions
personal careers meetings
CV checking
advice sessions.

LSE is very fortunate in attracting the top recruiters in many sectors which enables the careers service to run an LSE-exclusive vacancy board full of internships, voluntary, part-time and graduate positions.

See LSE Careers for further details.

Find out more

Explore LSE

MSc Finance and Private Equity

Overview

Introduction

Entry requirements

Overseas

Additional tests

Programme content

Pre-sessional programme

Year 1

Courses to the value of one and a half units from a range of options:

Programme regulations at LSE

Why study with us

Meet the department

Why LSE

University of the Year 2025 and 1st in the UK

1st in London for the 13th year running

6th In the world

Carbon Neutral In 2021, LSE became the first Carbon Neutral verified university in the UK

Your application

Overview

When to apply

Fees and funding

Home

Overseas

Fee status

Scholarships, bursaries and loans

Learning and assessment

How you learn

Teaching and learning

Academic support

How you're assessed

Formative work

Summative work

Graduate destinations

Overview

Career support

Finance Accelerator

Impact and influence for young professionals

City Speaker Series

Networking

LSE Careers

Find out more

Explore LSE