HBS Fund - Publications - Faculty & Research

May 2018 (Revised January 2019)
Teaching Note

Nashton Partners and Its Search Fund Process

By: Richard S. Ruback, Royce Yudkoff and Ahron Rosenfeld

Teaching Note for HBS No. 212-006. In 2008, Jay Davis (HBS’ 08) and Jason Pananos (HBS’ 08) formed Nashton Partners and raised $500,000 from investors to fund their search. After 30 months of searching, and exhausting the money they raised to fund their search, Davis... View Details

Keywords: Search Fund; Acquisition; Capital Structure; Financing and Loans; Investment Funds; Partners and Partnerships

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January 2020
Teaching Note

PROOF: Pro Rata Opportunity Fund

By: Josh Lerner, Shai Bernstein and Terrence Shu

This is a teaching note meant to accompany "PROOF: Pro Rata Opportunity Fund," HBS Case No. 820-030. View Details

Keywords: Finance; Venture Capital; Fund Management; Fund Raising; Investing; Investment Banking; Limited Partners

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June 2022
Teaching Plan

GreenLight Fund

By: Brian Trelstad and Mel Martin

Teaching Note for HBS Case No. 320-053. As Tara Noland, the Executive Director (ED) of GreenLight Cincinnati, reflected on her first few years on the job. Noland had delivered on what she had been hired to do in the city: work with leading philanthropists and nonprofit... View Details

Keywords: Philanthropy; Venture Philanthropy; Replication; Philanthropy and Charitable Giving; Venture Capital; Social Issues; Decision Making; Cincinnati

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July 2011 (Revised September 2018)
Case

Nashton Partners and Its Search Fund Process

By: Richard S. Ruback and Royce Yudkoff

Nashton Partners was a search fund founded by two HBS MBA's that raised $500,000 to finance a search for a company that they could purchase and then run for the next five to ten years. The case examines the search fund structure, the two-year search, and two potential... View Details

Keywords: Acquisition; Capital Structure; Financing and Loans; Investment Funds; Partners and Partnerships

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October 2012
Teaching Plan

Vertex Pharmaceuticals and the Cystic Fibrosis Foundation: Venture Philanthropy Funding for Biotech (TP)

By: Robert F. Higgins

This is the teaching note related to HBS case 808005. In 2001, Vertex Pharmaceuticals Incorporated acquired the San Diego-based biotech company, Aurora Biosciences. The combination of Vertex's and Aurora's technologies would improve the flow of novel drug candidates... View Details

Keywords: Venture Philanthropy; Biotechnology; Funding Philanthropy Venture; Cystic Fibrosis; Foundations; Pharmaceuticals; Mergers and Acquisitions; For-Profit Firms; Venture Capital; Philanthropy and Charitable Giving; Science-Based Business; Nonprofit Organizations; Pharmaceutical Industry; Biotechnology Industry; United States; San Diego

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December 2018 (Revised January 2019)
Teaching Note

The Fidelity Growth Company Fund

By: Samuel Hanson

Teaching Note for HBS No. 218-090. View Details

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April 2024
Teaching Note

NBIM and the Norwegian Sovereign Wealth Fund

By: Luis M. Viceira and Wenxin Du

Teaching Note for HBS Case No. 224-038. View Details

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February 2017
Case

Eve Hall: The African American Investment Fund in Milwaukee

By: Steven Rogers and Alterrell Mills

The case highlights the role of minority chambers of commerce and the background of Eve Hall, a well-regarded multi-sector leader asked to revive Wisconsin's African-American chamber. This case study examines the lending options that a minority chamber of commerce... View Details

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17 Feb 2003
Research & Ideas

Rating Fund Managers by the Company They Keep

work? A: Unfortunately the method is quite difficult to implement—it took us many months to do it properly, and it required mutual fund holdings data that costs tens of thousands of dollars (which the HBS... View Details

Keywords: by Ann Cullen

30 Jan 2017
Research & Ideas

Vanguard, Trian And The Problem With 'Passive' Index Funds

investing, especially for smaller investors, and ultimately created greater returns than most professionally managed mutual funds could deliver. That has made index, or passive, funds wildly popular: For the... View Details

Keywords: by Michael Blanding; Financial Services

January 2020
Teaching Note

modum.io: Funding a Blockchain-Based Start-Up’s Supply Chain Solution

By: Laura Huang, Dominik Roeck, Alex Murray and Erik Hofmann

Teaching Note for HBS No. 420-006. View Details

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05 Jun 2020
Research & Ideas

How Anchor Investors Help Impact Funds Succeed

so-called impact funds, or funds that hope to create positive social or environmental impact. In Anchors Aweigh: Analysis of Anchor Limited Partner Investors in Impact Investment Funds, the authors describe anchors as “generally the first... View Details

Keywords: by Sean Silverthorne; Financial Services

December 2018 (Revised March 2020)
Teaching Note

Asset Allocation at the Cook County Pension Fund

By: Emil Nuwan Siriwardane

Teaching Note for HBS No. 218-030. View Details

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February 2022
Teaching Note

Altoona State Investment Board & Bain Capital Fund XI

By: Josh Lerner

Teaching Note for HBS Case No. 218-022. View Details

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15 Nov 2012
Research & Ideas

Funding the Design of Livable Cities

sustainability. “Private investors will need to fund not only real estate development, but also the supporting urban infrastructure systems” In his multiple roles as a member of the HBS faculty teaching... View Details

Keywords: by Lisa Chase; Construction; Real Estate; Energy; Utilities

26 Nov 2001
Research & Ideas

Women Entrepreneurs Use Springboard for Funding

CEOs typically receive just 6 percent of the $69 billion available in venture capital in the United States, according to the VC research firm VentureOne. In an effort to boost the odds, 23 women took the podium at HBS as part of the... View Details

Keywords: by Martha Lagace

12 Feb 2008
Working Paper Summaries

The Small World of Investing: Board Connections and Mutual Fund Returns

Keywords: by Lauren H. Cohen, Andrea Frazzini & Christopher Malloy; Financial Services

03 Oct 2023
Research Event

Build the Life You Want: Arthur Brooks and Oprah Winfrey Share Happiness Tips

science matters. We have a class, it's a very popular class at the Harvard Business School. Some of you will take it in the spring if you're HBS students in the MBA program second year. It's called Leadership and Happiness. And here's... View Details

Keywords: by HBS Staff