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- All HBS Web
(1,677)
- People (2)
- News (363)
- Research (1,105)
- Events (1)
- Multimedia (3)
- Faculty Publications (649)
- July 2022
- Article
Private Equity and COVID-19
By: Paul A. Gompers, Steven N. Kaplan and Vladimir Mukharlyamov
We survey more than 200 private equity (PE) managers from firms with $1.9 trillion of assets under management (AUM) about their portfolio performance, decisionmaking and activities during the Covid-19 pandemic. Given that PE managers have significant incentives to... View Details
Keywords: COVID-19 Pandemic; Health Pandemics; Private Equity; Management; Investment Portfolio; Performance; Decision Making; Value Creation
Gompers, Paul A., Steven N. Kaplan, and Vladimir Mukharlyamov. "Private Equity and COVID-19." Journal of Financial Intermediation 51 (July 2022).
- September 2021
- Case
TAV Airports: Acquiring Almaty International
By: Juan Alcácer and Esel Çekin
The case opens in April 2020 with Sani Şener, CEO of TAV Airports, a vertically integrated regional airport operator headquartered in Istanbul, Turkey, and his team discussing the pending acquisition of the Almaty International Airport in Kazakhstan. The company had... View Details
Keywords: Airports; COVID-19 Pandemic; Strategy; Mergers and Acquisitions; Bids and Bidding; Air Transportation Industry; Central Asia; Turkey
Alcácer, Juan, and Esel Çekin. "TAV Airports: Acquiring Almaty International." Harvard Business School Case 722-367, September 2021.
- May 2025
- Case
RTX's Lifetime Income Strategy: Shaping the Future of Retirement
By: Daniel Green, Luis M. Viceira and Sarah Mehta
Set in 2024, this case explores the Lifetime Income Strategy (LIS), a novel retirement product launched by aerospace and defense company RTX in 2012. Aiming to embed the security of a traditional pension within a 401(k) plan, the LIS allowed participants to secure a... View Details
Keywords: Asset Management; Compensation and Benefits; Collaborative Innovation and Invention; Jobs and Positions; Labor; Retirement; Society; Adoption; Aerospace Industry; Financial Services Industry; Insurance Industry; United States; Virginia
Green, Daniel, Luis M. Viceira, and Sarah Mehta. "RTX's Lifetime Income Strategy: Shaping the Future of Retirement." Harvard Business School Case 225-016, May 2025.
- September 2003 (Revised March 2004)
- Case
Yale University Investments Office: June 2003
By: Josh Lerner
The Yale Investments Office must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments--hedge funds, private equity, real estate, and so forth. Considers the risks and benefits of a different asset allocation strategy.... View Details
Keywords: Leveraged Buyouts; Assets; Venture Capital; Private Equity; Investment Funds; Resource Allocation; Partners and Partnerships; Risk and Uncertainty; Strategy; Education Industry
Lerner, Josh. "Yale University Investments Office: June 2003." Harvard Business School Case 204-055, September 2003. (Revised March 2004.)
- 18 Mar 2013
- HBS Case
HBS Cases: LEGO
Out of work for a year following a serious illness in 1993, Kjeld appointed a five-person management team to help him run the company when he returned. The group focused mainly on driving growth. When a benchmarking study revealed LEGO's... View Details
- October 2023 (Revised November 2023)
- Case
Rheaply: Circularity For Every Business
By: Rembrand Koning and Alicia Dadlani
In March 2023, Garry Cooper, cofounder and CEO of Chicago-based Rheaply, needed to demonstrate that Rheaply’s expanded vision could translate into building cash flows and metrics needed to raise a Series B and turn the business into a model for financial and... View Details
Keywords: Business Startups; Social Entrepreneurship; Technological Innovation; Environmental Sustainability; Entrepreneurial Finance; Technology Industry; Green Technology Industry; United States; Illinois; Chicago
Koning, Rembrand, and Alicia Dadlani. "Rheaply: Circularity For Every Business." Harvard Business School Case 724-351, October 2023. (Revised November 2023.)
The Relevance of Broker Networks for Information Diffusion in the Stock Market
This paper shows that the network of relationships between brokers and institutional investors shapes the information diffusion in the stock market. We exploit trade-level data to show that trades channeled through central brokers earn significantly positive... View Details
- May 1996
- Case
First Capital Holdings Corp.
By: Stuart C. Gilson, Harry DeAngelo and Linda DeAngelo
The manager of a money-management firm considers whether to invest in the securities of a large, financially troubled, California-based life insurance holding company that holds 40% of its assets in high-yield junk bonds. Over the past year, the value of its portfolio... View Details
Keywords: Risk Management; Debt Securities; Bonds; Valuation; Investment Return; Fair Value Accounting; Financial Institutions; Insurance Industry
Gilson, Stuart C., Harry DeAngelo, and Linda DeAngelo. "First Capital Holdings Corp." Harvard Business School Case 296-032, May 1996.
- September 2019 (Revised August 2021)
- Case
It's All About Family: Esas Group
By: Christina R. Wing and Alpana Thapar
This case describes how Ali Sabancı and his sister Emine Sabancı Kamışlı, shareholders of Esas Group, one of Turkey’s largest family-owned investment firms, worked to grow and professionalize the business. While their father Şevket Sabancı, played an instrumental role... View Details
Wing, Christina R., and Alpana Thapar. "It's All About Family: Esas Group." Harvard Business School Case 620-010, September 2019. (Revised August 2021.)
- March 2008 (Revised June 2009)
- Case
Actis: January 2008
By: Felda Hardymon, Josh Lerner and Ann Leamon
Paul Feltcher, the CEO of Actis, a leading private equity investor in emerging markets, is preparing for an executive retreat at which the management team will consider how best to position the firm for the future. Actis could move in a number of different directions... View Details
Keywords: Business Model; Private Equity; Investment; Growth and Development Strategy; Management Teams; Emerging Markets; Organizational Change and Adaptation
Hardymon, Felda, Josh Lerner, and Ann Leamon. "Actis: January 2008." Harvard Business School Case 808-130, March 2008. (Revised June 2009.)
- October 2019 (Revised June 2020)
- Case
Pantheon Ventures in 2019
By: Victoria Ivashina and Tonia Labruyere
The case discusses the strategy of Pantheon, a UK-based fund of funds investing in private equity. Client demands and preferences had changed in the aftermath of the 2008 global financial crisis and Pantheon had to adapt its business model to accommodate requests for... View Details
Keywords: Financial Management; Private Equity; Corporate Strategy; Financial Services Industry; United Kingdom
Ivashina, Victoria, and Tonia Labruyere. "Pantheon Ventures in 2019." Harvard Business School Case 220-001, October 2019. (Revised June 2020.)
- January 2009 (Revised April 2009)
- Case
The Carlyle Group
By: Robert G. Eccles and Carin-Isabel Knoop
This case describes the investment philosophy, organizational structure, management processes and culture of the largest private equity firm in the world measured in terms of assets under management ($89 billion). The Carlyle Group is distinctive in several ways,... View Details
Keywords: Financial Crisis; Assets; Private Equity; Investment; Global Strategy; Innovation and Invention; Knowledge Use and Leverage; Management Practices and Processes; Organizational Structure; Information Technology; Asia; Washington (state, US)
Eccles, Robert G., and Carin-Isabel Knoop. "The Carlyle Group." Harvard Business School Case 409-050, January 2009. (Revised April 2009.)
- 06 Nov 2006
- Research & Ideas
How South Africa Challenges Our Thinking on FDI
pushing the envelope on offering products for an emerging market, the need to go in and set up a business or acquire your own company in order to have exposure to this area is lessened. What many firms or asset View Details
Keywords: by Martha Lagace
- March 2017 (Revised July 2019)
- Case
Interline Brands: Don't Stop Believing
By: Nori Gerardo Lietz and Ricardo Andrade
Interline Brands, a leading distributor of residential housing maintenance and repair parts and equipment in the U.S., had just held its November 2014 board meeting. The meeting had been productive but not without some soul searching for both the company’s management... View Details
Keywords: Private Equity Exit; Consumer Goods; IPO; Private Equity; Initial Public Offering; Decision Choices and Conditions
Lietz, Nori Gerardo, and Ricardo Andrade. "Interline Brands: Don't Stop Believing." Harvard Business School Case 217-061, March 2017. (Revised July 2019.)
- April 2022 (Revised August 2022)
- Case
Conflicts of Interest at Uptown Bank
By: Jonas Heese
In 2013, two employees debated whether to blow the whistle on their employer, Bell Bank, after completing an internal review that revealed undisclosed conflicts of interest. Bell Bank’s Asset Management business disproportionately invested clients’ money in Bell Bank’s... View Details
Keywords: Whistleblower; Whistleblowing; Mutual Funds; Conflicts Of Interest; Decision Making; Decisions; Judgments; Ethics; Moral Sensibility; Values and Beliefs; Finance; Financial Institutions; Banks and Banking; Financial Management; Investment; Investment Funds; Governance; Corporate Accountability; Corporate Disclosure; Corporate Governance; Governance Compliance; Governance Controls; Policy; Law; Legal Liability; Social Psychology; Motivation and Incentives; Perception; Perspective; Trust; Financial Services Industry; North and Central America; United States
Heese, Jonas. "Conflicts of Interest at Uptown Bank." Harvard Business School Case 122-022, April 2022. (Revised August 2022.)
- Forthcoming
- Article
The Evolution of Financial Services in the United States
By: Robin Greenwood, Robert Ialenti and David Scharfstein
This article surveys the literature on the historical growth and transformation of the U.S. financial sector. The sector expanded rapidly between 1980 until 2006, when its contribution to GDP rose from 4.8% to 7.6%. After the Global Financial Crisis, the size of the... View Details
Keywords: Financial Crisis; Financial Institutions; Financial Markets; Growth and Development; Economic Sectors
Greenwood, Robin, Robert Ialenti, and David Scharfstein. "The Evolution of Financial Services in the United States." Annual Review of Financial Economics (forthcoming).
- July 2021 (Revised October 2021)
- Case
Allianz Customer Centricity: Is Simplicity the Way Forward?
By: Eva Ascarza and Emilie Billaud
This case explores the tradeoffs between product personalization and simplicity as companies grow. The case presents an opportunity to understand whether and how each of these approaches enables and/or limits companies’ abilities to provide customer satisfaction while... View Details
Keywords: Simplicity; Customer Focus and Relationships; Customization and Personalization; Customer Satisfaction; Performance Efficiency; Strategy; Insurance Industry; Europe; Germany
Ascarza, Eva, and Emilie Billaud. "Allianz Customer Centricity: Is Simplicity the Way Forward?" Harvard Business School Case 522-008, July 2021. (Revised October 2021.)
- July–August 2014
- Article
The Crisis in Retirement Planning
By: Robert C. Merton
Corporate America began to really take notice of the looming retirement crisis in the wake of the dot-com crash, when companies in major industries went bankrupt in large part because of their inability to meet their pension obligations. The result was an acceleration... View Details
Merton, Robert C. "The Crisis in Retirement Planning." Harvard Business Review 92, nos. 7/8 (July–August 2014): 43–50.
- January 2009 (Revised April 2009)
- Case
The Canada Pension Plan Investment Board
By: G. Felda Hardymon, Josh Lerner and Ann Leamon
The Canada Pension Plan Investment Board is one of the largest and fastest-growing pools of investment capital in the world and follows an unusually active program of investment management. In the market turmoil of late 2008, Mark Wiseman, Senior Vice President of the... View Details
Keywords: Financial Crisis; Asset Management; Capital; Financial Management; Investment; Financial Services Industry; Canada
Hardymon, G. Felda, Josh Lerner, and Ann Leamon. "The Canada Pension Plan Investment Board." Harvard Business School Case 809-073, January 2009. (Revised April 2009.)