Mac book pro vs air

for private equity work, electronic data room, presentations, confidential information memorandums etc. is the mac book air sufficient?

Sufficent, yes. But what configuration are you going for?
There are a few things you need to consider when you ask "Air vs. Pro." The Air can do all you've named, but it does have limitations that the Pro doesn't have--like hard disk space. How much HD do you need? Will there be room left on the Air's HD for you to grow and expand? Will an external HD suffice for stuff you might not need on your laptop but want to have on hand?
Also, RAM--you won't be able to upgrade. So 4GB RAM max. That will suffice, but some people's businesses and needs change radically year to year. If you think you'll be needing more fast, then Pro is better. If not, then Air is perfectly fine.
Other things--any chance you'll need an optical drive? The AIr, of course, doesn't have one, but you can get a portable one if necessary. You might want that if you have to put on programs that come on CD. And, finally, do you need to lock your computer to a table? The Air doesn't have a slot for that, though there is another method of locking it. You should know that, however, as some business folk find that a deal breakers.
On the plus side, SSD rocks, and your thanks to these limitations, your Air will be light and slim. It won't weigh you down and won't no take up much room--makes traveling a breeze. You'll be able to handle it one-handed, slipping it in and out of bags or cases. 

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