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Finance

Adjunct Professor of Finance

Portrait of Chirag Saraiya, Faculty at the Kellogg School of Management
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Chirag Saraiya is a Lecturer in the Department of Finance. Mr. Saraiya launched his career at Merrill Lynch in the Private Placement Group. Following this, Mr. Saraiya joined Banc of America Securities' US M&A Group, where he focused on sell-side advisory work in the consumer and retail sector. He then spent a number of years in Banc of America Securities' London and Paris offices helping to expand their European presence, and working closely on cross-border M&A transactions in the industrials sector. In 2003, he joined Training the Street, Inc., a firm that specializes in valuation and financial modeling training for Wall Street firms, private equity firms, and business schools globally. Mr. Saraiya has led training seminars in the United States, Europe, Asia, Australia, and the Middle East. 

  • MBA, 2006, Kellogg School of Management, Northwestern University
    BA, 2000, Emory University
  • Principal, Training the Street, 2003-present
    Investment Banking / M&A, Bank of America, 2000-2003

Financial Modeling for Private Equity Transactions (FINCX-478-0)

This course, which builds on the foundational skills of analyzing and forecasting parts of a business, teaches students how to weave their forecasts into coherent spreadsheet-based, pro-forma financials. The course starts with conceptual examples that explain linkages between the three core financial statements (IS/BS/CF), it then builds on these examples to forecast the financial statements of real companies. The main goal of this course is to illustrate how a practitioner would analyze a leveraged buyout. Students will construct their own LBO model in Excel and, by the end of the course, should feel comfortable assessing a company and determining if it is a viable LBO candidate. This class is very practical and hands-on, with a final group project and a final exam.