Publications

April 2015 (Revised April 2015)
Case

Yale University Investments Office: February 2015

By: Josh Lerner

David Swensen and the Investments Office staff must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments—hedge funds, private equity, real estate—given the impact of the recent market turmoil. The case explores the risks... View Details

Keywords: Asset Management; Resource Allocation; Investment; Venture Capital; Investment Funds; Property; Private Equity

May 1994 (Revised November 2001)
Case

Concord Center

By: William J. Poorvu and John H. Vogel Jr.

A major shopping center developer and an insurance company form a joint venture to develop a 900,000 square foot super-regional shopping center. Describes the nine-year struggle to deal with market, regulatory, and financial issues to get the project ready for... View Details

Keywords: Buildings and Facilities; Design; Joint Ventures; Construction; Partners and Partnerships; Governance Controls; Market Entry and Exit; Projects; Equity; Corporate Finance; Retail Industry

Web

Placement - Doctoral

(HKUST) Dissertation: Equity Market Views and Digital Technology Investment in Non-IT Firms Advisors: Suraj Srinivasan (Chair), Paul M. Healy , Charles C.Y. Wang , and Shane M. Greenstein Hashim Zaman Accounting & Management, 2022... View Details

03 Sep 2013
First Look

First Look: September 3

is lower than that of peers. Download working paper: http://ssrn.com/abstract=1346397 The Disintermediation of Financial Markets: Direct Investing in Private Equity By: Fang, Lily, Victoria Ivashina, and Josh Lerner Abstract—One of the... View Details

Keywords: Sean Silverthorne

October 2011 (Revised March 2013)
Case

Yale University Investments Office: February 2011

By: Josh Lerner and Ann Leamon

David Swensen and the Investments Office staff must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments—hedge funds, private equity, real estate—given the impact of the recent market turmoil. The case explores the risks... View Details

Keywords: Asset Management; Resource Allocation; Investment; Venture Capital; Investment Funds; Property; Private Equity

October 1998
Case

Farallon Capital Management: Risk Arbitrage (C)

By: Andre F. Perold and Robert Howard

Farallon Capital Management, an investment firm that specializes in risk arbitrage, has taken significant long and short positions in MCI Communications and British Telecommunications, respectively, in the belief that the proposed merger of these firms will be... View Details

Keywords: Capital Markets; Equity; Mergers and Acquisitions; Financial Institutions; Risk Management; Investment Funds; Financial Services Industry

10 Sep 2021
Blog Post

Perspectives on Anti-Racism in the HKS Curriculum

In fall 2020, the Harvard Kennedy School incorporated a two-week module on Race and Racism in the Making of the United States as a Global Super power into the MPP core curriculum. The school created this module in response to calls by the student-led HKS View Details

01 Dec 2015
First Look

December 1, 2015

standard forecasting regressions reveal that increases in p*t lead to economic downturns. Second, disaster risk is priced in the cross section of U.S. equity returns. A zero-cost equity portfolio with... View Details

Keywords: Sean Silverthorne

February 2015 (Revised April 2018)
Supplement

Dalian Wanda Group: The AMC Entertainment Acquisition (B)

By: Willy Shih

When Dalian Wanda Group of China announced its plan to acquire the AMC Entertainment theatrical exhibition chain in the United States, many people in the U.S were mystified. Unlike China where theatrical exhibition was experiencing rapid growth, the U.S. market was... View Details

Keywords: AMC Entertainment; Wanda Group; Wang Jianlin; Theater Entertainment; Film Entertainment; Acquisition; Mergers and Acquisitions; Foreign Direct Investment; Cross-Cultural and Cross-Border Issues; Growth and Development Strategy; Business Strategy; Expansion; Motion Pictures and Video Industry; China; United States

September 2011
Case

AXA Private Equity: The Diana Investment

By: Michael J. Roberts and William A. Sahlman

The case focuses on an investment made by AXA Private Equity, a French manufacturer of food ingredients. The investment is made at the height of the financial markets, and financed with significant debt. Soon thereafter, the financial crisis impacted the company's... View Details

Keywords: Private Equity; Ethics; Investment; Financial Crisis

August 2007 (Revised April 2008)
Case

Texas Pacific Group--J. Crew

By: Michael J. Roberts, William A. Sahlman and Lauren Barley

Describes Texas Pacific Group's purchase and operation of J. Crew, the catalog and specialty clothing retailer. Highlights the issues involved in financing such a transaction, and then focuses on the operational challenges of turning around the business, and of TPG's... View Details

Keywords: Mergers and Acquisitions; Private Equity; Financing and Loans; Investment; Operations; Organizational Change and Adaptation; Apparel and Accessories Industry; Retail Industry