Importance of other things than grades

Hi

How much does other factors than grades matter when applying to business schools?

I'm thinking about applying to LSE Finance and PE (I will of course also apply to several other programs). I am expecting to graduate with a Bachelor's degree, major finance/economics minor business. As part of my degree, I'll be writing an undergraduate thesis about a subject of my choice. If I write about PE, do you think that may affect my chances (I have already checked so I know this is possible)? Plus I got teachers whom can certify that my interest in PE goes a long time back.

Also, would additional references make a big difference? They require two, I got three at the moment and I think I can easily get 4-5.

I'm expecting to get a 2.1 now in my second year, and in my third year possibly a first. I' go to a non-target school.

Does anyone have any idea how many people are going to that program vs how many applied? I know the regular finance msc at LSE is extremely competitive, and I expect this one to be competitive too. However, I have heard this program was created mostly to take some of the burden off the Finance msc, so maybe it's slightly easier to get admitted (given that most people still apply for the regular finance msc).

I'm thinking my combination of finance/economics/business should work to my advantage, since you'll need knowledge of all these to work in PE. But I also understand going to a non-target school is a disadvantage.

Please tell me your thoughts about this.

/John