Publications

September 2011 (Revised January 2012)
Case

Silver Lake and Private Equity in Brazil: Carnaval or Calamity?

By: Aldo Musacchio and Stephen J. Goldstein

Keywords: Private Equity; Capital Markets; Strategy; Brazil

Research Summary

Resources, Strategy, and Performance During Industry Replication: The Case of Emerging Markets Private Equity

Competitive dynamics in emerging markets private equity closely resemble those of nascent technology industries. This is because institutional voids undermine core components of the traditional PE business model. I am examining how resources shape strategy... View Details

July 2017
Case

Centerbridge Partners and Great Wolf Resorts: Buying from a Highly Regarded Competitor

By: Josh Lerner, John D. Dionne and Amram Migdal

The case examines the March 2015 Centerbridge Partners investment decision regarding whether to acquire Great Wolf Resorts, a North American family-oriented indoor water parks and hotel operator, from a private equity (PE) competitor, Apollo Global Management. The case... View Details

Keywords: Private Equity Financing; Commercial Mortgage Backed Securities; CMBS; Secondary Buyouts; Business Ventures; Acquisition; Finance; Borrowing and Debt; Cost; Cost of Capital; Equity; Private Equity; Financial Instruments; Debt Securities; Accommodations Industry; Entertainment and Recreation Industry; Financial Services Industry; North and Central America; United States

This book is a collection of cases and notes that have been used in Private Equity Finance, an advanced corporate finance course offered in the second year of the Harvard Business School’s MBA curriculum, over several years. The goal of the book is to provide a... View Details

20 Mar 2024
Video

The Value of an MBA in Professional Services: Consulting, Financial Services, and Private Equity

March 2014
Module Note

The Venture Capital and Private Equity Investing Simulation: The Concepts

By: Matthew Rhodes-Kropf and Nathaniel Burbank

Fall 2021
Article

When to Go and How to Go? Founder and Leader Transitions in Private Equity Firms

By: Josh Lerner and Diana Noble

Leadership transition in private equity firms is an understudied field, despite the important, albeit controversial, role such firms play in developed economies. We analyzed 260 firms in an empirical study, supplemented by qualitative interviews with a small sample of... View Details

Keywords: Leadership Transition; Private Equity; Leadership; Management Succession; Analysis

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2024
Working Paper

Does Private Equity Have Any Business Being in the Health Care Business?

By: Nori Gerardo Lietz and Zirui Song

Private Equity (“PE”) has come under increased scrutiny by the press, academics, and policymakers, as well as the public, for its investments in health care delivery. This scrutiny has been exacerbated by recent high profile hospital bankruptcies following PE... View Details

Keywords: Private Equity; Government Administration; Acquisition; Health Industry

SSRN

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June–August 2004
Article

El capital privado: solución para el crecimiento y formación de nuevas empresas

By: Roberto Charvel and Luis Fernando Gonzalez

Keywords: Entrepreneurial Finance; Private Equity; Financial Services Industry; Mexico

October 2013
Case

Advantage Partners: Dia Kanri (A)

By: Paul A. Gompers, Nobuo Sato and Akiko Kanno

This case explores the opportunity to purchase the condominium management business of a distressed real estate developer by Advantage Partners, a leading Japanese private equity firm. The case explores investment structuring, bidding strategy, and the ability of... View Details

Keywords: Private Equity; LBO; Roll-up; Investment; Financing; Condominium Management; Leveraged Buyouts; Asia

October 2018
Case

Accomplice: Scaling Early Stage Finance

By: Ramana Nanda, Raffaella Sadun and Olivia Hull

Accomplice, an early-stage venture capital firm based in Boston, is raising its second fund in November 2017. Since 2009, the firm has followed a seed-led investment model, investing in tech companies at the earliest stages, often when products and business models are... View Details

Keywords: Early Stage Finance; Seed Finance; Scouts; Venture Capital; Business Startups; Private Equity; Investment Portfolio; Organizational Structure; Organizational Change and Adaptation; Partners and Partnerships; Networks; Adaptation; Corporate Strategy; Technology; Financial Services Industry; Massachusetts; Boston; Cambridge; United States

November 2014
Case

Oasys Water: Balancing Strategic Partnerships & Financing Decisions

By: Ramana Nanda, William A. Sahlman and Sid Misra

Oasys Water had developed a proprietary water treatment technology based on an innovative forward osmosis process that could remove dissolved solids from water more effectively and efficiently than existing technologies. As Oasys looked to scale, it was exploring... View Details

Keywords: Entrepreneurial Finance; Finance; Strategy; Entrepreneurship; China

Article

Private Equity and Portfolio Companies: Lessons from the Global Financial Crisis

By: Shai Bernstein, Josh Lerner and Filippo Mezzanotti

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March 2013
Teaching Note

Silver Lake and Private Equity in Brazil: Carnaval or Calamity? (TN)

By: Aldo Musacchio

29 Oct 2012
News

Private equity guru's mission to show big business can do altruism

Keywords: Finance; Finance

November 2020 (Revised April 2021)
Case

Roll-Ups and Surprise Billing: Collisions at the Intersection of Private Equity and Patient Care

By: Trevor Fetter and Kira Seiger

This case describes the increasing investment by private equity (PE) firms in patient care and other healthcare services. The case focuses on investments in physician staffing firms and roll-up strategy investments in physician practice management (PPM). Included in... View Details

Article

Private Equity, el socio silencioso

By: Roberto Charvel

Keywords: Entrepreneurial Finance; Capital Markets; Venture Capital; Private Equity; Financial Services Industry; Latin America