Publications

02 Dec 2017
News

A Leveraged Investment

expanded his business almost tenfold since attending the program. Hesham was so enthusiastic about OPM that he convinced his wife, Adlina, that she should attend. Adlina was at a key juncture with her business—a consumer electronics concern in Dubai that she launched... View Details

May 1994 (Revised December 1994)
Case

Fidelity Investments: Spartan Florida Municipal Fund

By: Andre F. Perold and Sanjay Bhatnagar

Keywords: Investment Funds; Financial Services Industry; Florida

June 2019
Teaching Plan

THE VELUX FOUNDATIONS: Selecting Impact Funds

By: Vikram S Gandhi and Nathaniel Schwalb

October 2007 (Revised November 2007)
Case

Barclays Global Investors and Exchange Traded Funds

By: Luis M. Viceira and Alison Berkley Wagonfeld

Provides an overview of the Exchange Traded Funds (EFT) industry and highlights the leadership role that Barclays Global Investors (BGI) has played in this developing asset class. BGI launched its first ETFs under the iShares brand name in 2000, and by mid-2007 BGI was... View Details

Keywords: History; Venture Capital; Asset Management; Stocks; Investment Funds; Leading Change; Expansion; Competitive Strategy; Capital Markets; Global Strategy; Financial Strategy; Banking Industry; Financial Services Industry; Asia; Europe

Educators

May 2011
Article

Higher Risk, Lower Returns: What Hedge Fund Investors Really Earn

By: Ilia Dichev and Gwen Yu

The returns of hedge fund investors depend not only on the returns of the hedge funds they hold but also on the timing and magnitude of their capital flows in and out of the funds. We use dollar-weighted returns (a form of IRR) to assess the properties of actual... View Details

Keywords: Investment Funds; Investment Return; Capital Markets; Market Timing; Currency

Read Now

26 Sep 2016
News

Steward gets $1.25b to fund expansion, repay Cerberus

30 May 2019
News

How to Ensure ESG Investing Isn’t Whitewash

10 May 2017
Research & Ideas

Amazon Web Services Changed the Way VCs Fund Startups

amount of money to each,” says Nanda. “Equally important, we wanted to see if they were just investing in a lot of worse firms, or if these long-shot firms were actually higher in value if they succeeded.” The researchers found that the... View Details

Keywords: by Michael Blanding; Banking; Financial Services; Information Technology

January 2024
Technical Note

Venture Capital and Private Equity Funds: A Primer

By: Jo Tango and Christina Wallace

How do venture capital and private equity funds actually work? This Technical Note covers the "when, who, and how" details:

"When": fund length, extensions, and when investors can no longer initiate new investments.
"Who": who is in the General... View Details

Keywords: Fund Flows; Fund Management; Venture Capital; Private Equity; Investment Funds

Educators

October 2024 (Revised November 2024)
Case

SWEN Blue Ocean: Impact Investing Goes to Sea

By: Vikram S Gandhi and David Allen

In August 2023, SWEN Blue Ocean, a €170 million impact fund that invested in startups contributing to ocean sustainability, faced a critical investment decision. Part of SWEN Capital Partners, an €8 billion, Paris-based private equity fund, Blue Ocean was co-founded in... View Details

Keywords: Communication Technology; Environmental Sustainability; Green Technology; Finance; Capital; Venture Capital; Private Equity; Investment; Investment Funds; Science-Based Business; Financial Services Industry; France; Paris; Italy

Educators

August 2021
Supplement

Andreessen Horowitz’s Cultural Leadership Fund (B): Kevin Hart and Clubhouse

By: Anita Elberse, Briana Richardson and Cydni Williams

In May 2020, Andreessen Horowitz secures an agreement with Clubhouse, one of Silicon Valley’s hottest startups, to lead its ‘Series A’ funding round. One of the factors that insiders saw as pivotal in the race to be Clubhouse’s VC firm of choice was Andreessen... View Details

Keywords: Entertainment; Talent Management; General Management; Inclusion; Talent and Talent Management; Diversity; Venture Capital; Entrepreneurship; Networks; Nonprofit Organizations

April 2012 (Revised July 2012)
Supplement

Man Group (B)

By: Robert C. Pozen and Thomas M. Clay

The Man Group was a huge and successful UK-based hedge fund and fund of funds manager. Through acquisitions, the company had consciously diversified its portfolio of investment products. In 2007 Man had to decide whether or not to spin off its brokerage business. Man... View Details

Keywords: Hedge Funds; Asset Management; Governing Rules, Regulations, and Reforms; Investment Funds; Corporate Strategy; Growth and Development Strategy; Financial Services Industry; United Kingdom

22 Apr 2002
Research & Ideas

Profits and Prophets: The Role of Values in Investment

As chair of the investment committee for a college, Sam Hayes was faced with a challenging dilemma: Should the committee invest only in socially responsible funds even though... View Details

Keywords: by Sean Silverthorne

October 1993 (Revised September 1994)
Case

Northern Telecom (A): Greenwich Investment Proposal (Condensed)

By: Robert J. Dolan

The business products division has developed a business proposal asking for $50 million to fund the creation of a new telephone system for the small business market. The company's last entry into this marketplace lost $70 million. The new product would face 100... View Details

Keywords: Risk and Uncertainty; Communication Technology; Market Entry and Exit; Corporate Entrepreneurship; Investment; Product Development; Telecommunications Industry; Canada

01 Dec 1999
News

Hawes Family Funds New Classroom Building

Inspired by Dean Kim B. Clark's vision for the School, Beverly and Rodney A. Hawes, Jr. (MBA '69), recently made a generous gift to HBS that will fund a new classroom building. "You can't succeed in the world today without having a global... View Details

21 Sep 2017
Cold Call Podcast

State Street’s SHE: Investing in Women Leaders

Keywords: Re: Vikram Gandhi; Financial Services

March 2013
Article

The Client Is King: Do Mutual Fund Relationships Bias Analyst Recommendations?

By: Michael Firth, Chen Lin, Ping Liu and Yuhai Xuan

This paper investigates whether the business relations between mutual funds and brokerage firms influence sell-side analyst recommendations. Using a unique data set that discloses brokerage firms' commission income derived from each mutual fund client as well as the... View Details

Keywords: Prejudice and Bias; Decision Choices and Conditions; Investment Funds