Publications

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September 2017 (Revised September 2022)
Supplement

Asset Allocation at the Cook County Pension Fund

By: Emil Nuwan Siriwardane

December 2018
Supplement

Asset Allocation at the Cook County Pension Fund

By: Emil Nuwan Siriwardane

17 Apr 2009
Working Paper Summaries

The Investment Strategies of Sovereign Wealth Funds

Keywords: by Shai Bernstein, Josh Lerner & Antoinette Schoar; Financial Services

November 2011
Teaching Note

The Canada Pension Plan Investment Board (TN)

By: Josh Lerner, Felda Hardymon and Ann Leamon

Keywords: Retirement; Investment Funds; Canada

1 PM – 2 PM EDT, 17 Sep 2015
Webinars: Trending@HBS

Risk of Unfunded Public Pension Fund and Health Care Benefits in the US

Detroit is the canary in the coal mine on the issue of unfunded pension and health care liabilities. Had the city not declared bankruptcy, it was projected that 67% of every incremental revenue dollar would have been allocated to these legacy benefits by 2017. Yet even... View Details

December 2018 (Revised March 2020)
Teaching Note

Asset Allocation at the Cook County Pension Fund

By: Emil Nuwan Siriwardane

Teaching Note for HBS No. 218-030. View Details

August 2017 (Revised September 2023)
Case

Altoona State Investment Board & Bain Capital Fund XI

By: Josh Lerner and Ted Berk

Considers the decision faced by state pension fund manager Rod Calhoun as he decides whether to invest $200 million in Bain Capital's eleventh global buyout fund: Bain Capital Fund XI. For the fund, Bain was offering its limited partners a choice among three different... View Details

Keywords: Equity Method; Leveraged Buyout; Management Buyout; Capital; Design; Entrepreneurship; Finance; Leveraged Buyouts; Management; Private Equity; Venture Capital; Banking Industry; Massachusetts

08 Jul 2011
News

Spotlight on Sustainable Investing

Keywords: pensions; Administration of Economic Programs; Government

October 2021 (Revised May 2023)
Case

Engine No.1: An Impact Investing Firm Engages with ExxonMobil

By: Mark Kramer, Shawn Cole, Vikram S. Gandhi and T. Robert Zochowski

ExxonMobil, the world's fifth largest source of carbon emissions, remained committed to aggressively expanding its oil & gas business despite global warming. During the COVID pandemic this strategy resulted in massive losses as the price and demand for oil declined. ... View Details

Keywords: Carbon Emissions; Global Warming; Impact Investment Funds; Hedge Fund Activism; Leadership Development; Business Model; Renewable Energy; Resource Allocation; Decision Choices and Conditions; Governing and Advisory Boards

March 2014
Teaching Note

The Canada Pension Plan Investment Board: October 2012

By: Josh Lerner, Matthew Rhodes-Kropf and Nathaniel Burbank

September 2018 (Revised June 2019)
Case

THE VELUX FOUNDATIONS: Selecting Impact Funds

By: Vikram Gandhi, Caitlin Reimers Brumme and Nathaniel Schwalb

After much internal debate, THE VELUX FOUNDATIONS of Denmark have decided to allocate a small percentage of their investment portfolio to impact investments. Cambridge Associates, one of the leading investment advisory firms in the world, has been engaged to assist... View Details

Keywords: Impact Investing; Mission-Related Investing; Foundations; Investment; Venture Capital; Corporate Social Responsibility and Impact; Strategy; Investment Funds; Decision Making; Consulting Industry; Financial Services Industry; Denmark; Europe

January 2020
Teaching Note

PROOF: Pro Rata Opportunity Fund

By: Josh Lerner, Shai Bernstein and Terrence Shu

This is a teaching note meant to accompany "PROOF: Pro Rata Opportunity Fund," HBS Case No. 820-030. View Details

Keywords: Finance; Venture Capital; Fund Management; Fund Raising; Investing; Investment Banking; Limited Partners

2004
Working Paper

Earnings Manipulation, Pension Assumptions and Managerial Investment Decisions

By: Daniel B. Bergstresser, Mihir A. Desai and Joshua Rauh

SSRN

13 Jun 2013
News

Celtics CEO starts investment fund

December 2009 (Revised February 2010)
Case

The Investment Fund for Foundations (TIFF) in 2009

By: Luis M. Viceira and Brendon Christopher Parry

In late June 2009, management at The Investment Fund for Foundations (TIFF) was considering expanding the footprint of the TIFF Diversified Fund (TDF), the first truly comprehensive endowment management vehicle offered under the TIFF banner. The recent large capital... View Details

Keywords: Financial Crisis; Asset Management; Financial Strategy; Investment Funds; Risk Management; Product Marketing; Financial Services Industry; United States