The Ox-Chi Challenge is a case competition that enables teams from both institutions to assess the potential for a leveraged buyout of a publicly-listed company and compete for a cash prize. The Challenge alternates annually between Oxford and Chicago. The 2018 global finals will take place in Oxford, England March 1-2.

Semifinals: To participate in the Semifinals, students must build teams of four, prepare a proposal and financial model based on a case that will be posted in the early fall term, and apply. From the pool of applicants, a subset of teams are asked to interview with a panel of private equity investors. Interviews consist of brief presentations and Q&A sessions. Following the interview process, three teams are selected to compete in the Chicago Booth semifinals. These teams formally present their proposals to a panel of private equity judges, who select a winner to go head to head with the top team from Oxford.

Finals: The winner of the Booth semifinals then presents a final proposal to a committee comprised of Chicago Booth and Oxford alumni. In addition, the team will have the opportunity to attend a lecture on private equity by a professor from Oxford University, participate in treks to several top private equity firms in London; and network with Oxford faculty, students, and alumni.