Publications

August 2021
Teaching Note

Yale University Investments Office: November 2020

By: Josh Lerner

Teaching Note for HBS Case No. 821-074. View Details

Keywords: Venture Capital; Private Equity; University Endowment; Asset Allocation; Connecticut

Web

2022 Symposium - Race, Gender & Equity

Business Administration and faculty chair of the HBS Race, Gender & Equity Initiative. She conducts research on race and gender relations in organizations with a focus on organizational change, group dynamics, learning, conflict, power,... View Details

Web

2018 Symposium - Race, Gender & Equity

equity and inclusion. Zachary received a doctorate in Clinical Psychology from Boston University, completed advanced clinical training at Cambridge Hospital/Harvard Medical School as and Georgetown University. He began his career as an... View Details

March 2013 (Revised March 2014)
Case

Brazos Partners and the Tri-Northern Exit

By: Matthew Rhodes-Kropf and Nathaniel Burbank

Randall Fojtasek, a partner at the Dallas-based Brazos Private Equity Partners, must decide whether now is the time to sell his firm's investment in Tri-Northern Distribution. Brazos, a middle-market leveraged buyout group, created the company two years earlier through... View Details

Keywords: Private Equity Exit; LBO; Leveraged Buyout Transaction; Texas; Security; Brazos; Tri-Northern; Tri-Ed; Northern Video; Private Equity; Partners and Partnerships; Distribution; Leveraged Buyouts; Decision Choices and Conditions; Investment Funds; Financial Services Industry; Distribution Industry; Texas

2011
Working Paper

Leviathan as a Minority Shareholder: A Study of Equity Purchases by the Brazilian National Development Bank (BNDES), 1995-2003

By: Sergio G. Lazzarini and Aldo Musacchio

There is a growing literature comparing the performance of private vs. state-owned companies. Yet, there is little work examining the effects of having the government as a minority shareholder of private companies. We conduct such a study using data for 296 publicly... View Details

Keywords: Investment; Ownership Stake; State Ownership; Private Ownership; Performance Evaluation; Business and Government Relations; Business and Shareholder Relations; Banking Industry; Brazil

Read Now

24 Mar 2002
Lessons from the Classroom

Case Study: A Lesson in Private Venture Financing

security services to companies in South Africa, other African countries, and parts of Europe. In the case, Gray has recently undergone a financial restructuring with the help of private equity firm Brait... View Details

Keywords: by Julia Hanna

January 2019
Teaching Note

Innova Capital: The Transition

By: Josh Lerner, Nori Gerardo Lietz and Terrence Shu

Teaching Note for HBS No. 813-064. View Details

Keywords: Private Equity; Succession Planning; Finance; Eastern Europe; Poland

17 Mar 2014
News

In Private Equity, the Popularity of Investing Alongside Managers - Not in Their Funds - Soars

2001
Manual

Venture Capital and Private Equity: An Instructor's Manual

By: Josh Lerner, G. Felda Hardymon and Ann Leamon

Keywords: Venture Capital; Private Equity; Information

Web

Diversity on Boards - Race, Gender & Equity

shop for content on what you need to become a board member and how to get there. We aim to connect exceptional alumni and accelerate the placement of qualified diverse candidates on public and private company boards. The Race, Gender and... View Details

02 Feb 2015
News

Wall Street Is Not Silicon Valley

Keywords: private equity; entrepreneurship; Wall Street; work-life balance; Funds, Trusts, and Other Financial Vehicles; Finance

May 2012
Supplement

Brennan Warranty Corporation (B)

By: Richard S. Ruback and Royce Yudkoff

Keywords: Private Equity; Corporate Finance; Entrepreneurial Finance; Mergers And Acquisitions

October 2013
Supplement

HgCapital and the Visma Transaction (A) Courseware

By: Paul A. Gompers

This courseware is to be used with HgCapital and the Visma Transaction (A), HBS No. 214018. View Details

Keywords: Private Equity; Leveraged Buyouts; Management Buyout; Deal Structuring; Negotiations; Finance; Valuation; Europe

August 2013
Supplement

HgCapital and the Visma Transaction (B-1): Nic Humphries

By: Paul A. Gompers, Karol Misztal and Joris Van Gool

Keywords: Private Equity; Leveraged Buyouts; Management Buyout; Deal Structuring; Negotiations; Finance; Valuation; Europe

September 2012 (Revised January 2013)
Case

Martin Smith: July 2012

By: Josh Lerner and Felda Hardymon

Martin Smith, a recently hired general partner at a Brazil-based venture capital firm, must decide among three deal opportunities. Each has different strengths (management, market, and technology) but each has its own weaknesses as well. He must also consider each deal... View Details

Keywords: Private Equity; Deal Choice; Venture Capital; Investments; Career Management; Management Teams; Decision Choices and Conditions; Cost vs Benefits; Personal Development and Career; Financial Services Industry; Brazil

September 2012
Supplement

United Capital Partners (B)

By: Paul A. Gompers, J. Daniel Kim and Vladimir Mukharlyamov

This case continues the discussion started in the (A) case about a proposed growth equity investor in a Russian fashion retail chain. View Details

Keywords: Fashion; Growth Equity; Private Equity; Fashion Industry; Financial Services Industry; Retail Industry; Russia

March 2014 (Revised September 2015)
Case

ACA and the Union Bank Acquisition

By: Josh Lerner and Nathaniel Burbank

Okey Enelamah is the CEO of the African Capital Alliance (ACA), a private equity firm based in Nigeria. ACA has spent more than a year arranging a $500 million consortium bid to acquire and recapitalize Union Bank, Nigeria's sixth largest bank. Several weeks before the... View Details

Keywords: Nigeria; African Capital Alliance; Africa; Bank Capital; ACA; Union Bank; Development Finance Institutions; Capital Alliance Private Equity; Private Equity; Central Banking; Banking Industry; Financial Services Industry; Nigeria; Africa

October 2019 (Revised June 2022)
Case

Toys 'R' Us: Come Buy My Toys

By: Nori Gerardo Lietz, Erica Segall, Alejandro Botto and Terrence Shu

Keywords: Private Equity; Retail; Finance; Leveraged Buyout; Leverage; Leveraged Buyouts; Bankruptcy

September 2020
Case

Summit Partners: Independent Vetcare

By: Victoria Ivashina and Terrence Shu

This case follows Summit Partners, a leading growth equity firm, as it evaluates an investment opportunity in IVC, a veterinary care group in the U.K. market. The case allows students to articulate and evaluate the investment thesis of this transaction. Additionally,... View Details

Keywords: Growth Equity; Investment Evaluation; Private Equity; Investment; Decision Making; Valuation