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  • Web

Private Equity Finance - Course Catalog

Deal Management This module explores the important choices that private equity firms make after closure of the transactions. In particular, the critical operational levers that drive value creation will be examined, as well as governance,... View Details
  • 10 Jul 2000
  • Research & Ideas

Privatization and the New European Economy

privatization garners attention in industries whose importance, infrastructure, and enormous capital needs once put them under the comfortable control of their governments. Historically, observed HBS professor Richard Vietor in his... View Details
Keywords: by James E. Aisner; Air Transportation; Transportation
  • 08 Nov 2024
  • Op-Ed

How Private Investors Can Help Solve Africa's Climate Crisis

African people, businesses, and nations are becoming increasingly stressed by climate-related perils like droughts, river flooding, extreme heat, and rising sea levels. This is leading not only to the destruction of assets but also challenges to lives and... View Details
Keywords: by John Macomber; Green Technology; Energy

    Best-selling and New Cases by Ben Esty

    Best-Selling Cases:  

      1) Eaton: Portfolio Transformation & Cost of... View Details

    • 30 Apr 2009
    • Working Paper Summaries

    Earnings Quality and Ownership Structure: The Role of Private Equity Sponsors

    Keywords: by Sharon P. Katz; Financial Services
    • 2009
    • Working Paper

    The Impact of Private Equity Ownership on Portfolio Firms' Corporate Tax Planning

    By: Brad Badertscher, Sharon P. Katz and Sonja Olhoft Rego
    This study investigates whether private equity (PE) firms influence the tax practices of their portfolio firms. Prior research documents that PE firms create economic value in portfolio firms through effective governance, financial, and operational engineering. Given... View Details
    Keywords: Private Equity; Investment Portfolio; Corporate Governance; Taxation; Ownership Stake; Value Creation
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    • April–May 2024
    • Article

    Gone with the Big Data: Institutional Lender Demand for Private Information

    By: Jung Koo Kang
    I explore whether big-data sources can crowd out the value of private information acquired through lending relationships. Institutional lenders have been shown to exploit their access to borrowers’ private information by trading on it in financial markets. As a shock... View Details
    Keywords: Analytics and Data Science; Borrowing and Debt; Financial Markets; Value; Knowledge Dissemination; Financing and Loans
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    • 22 Jan 2020
    • News

    Wiping Out The Nation’s Student-Loan Debt Could Have Unintended Financial Consequences for Borrowers

    • Web

    Private companies: fast growing | Baker Library

    Help Center Private companies: fast growing How can I find (or create) a list of fast-growing private companies? Create a list using Pitchbook : Go to Data > Companies. Go to Key Fields > Ownership Status.... View Details

      When the Tailwind Stops: The Private Equity Industry in the New Interest Rate Environment

      The consistent growth of long-term alternative asset managers in the past four decades coincided with the secular decline in interest rates. This has been an important tailwind for the private equity industry’s development as debt markets became increasingly... View Details

      • October 2014
      • Article

      Sovereigns, Upstream Capital Flows and Global Imbalances

      By: Laura Alfaro, Sebnem Kalemli-Ozcan and Vadym Volosovych
      We construct measures of net private and public capital flows for a large cross-section of developing countries considering both creditor and debtor side of the international debt transactions. Using these measures, we demonstrate that sovereign-to-sovereign... View Details
      Keywords: Current Account; Aid/government Debt; Reserves; Puzzles; Productivity; Sovereign Finance; Developing Countries and Economies; Macroeconomics
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      • 25 Apr 2014
      • Research & Ideas

      To Pay or Not to Pay: Argentina and the International Debt Market

      Back then, Argentina tried to fend off creditors by adopting a hard-line attitude about reducing its debt obligations. When it initiated a bond exchange offer in 2005 and told its creditors to "take it or leave it," the republic... View Details
      Keywords: by Laura Alfaro
      • Web

      Venture Capital and Private Equity - Course Catalog

      HBS Course Catalog Venture Capital and Private Equity Course Number 1428 Senior Lecturer Jo Tango Senior Lecturer Archie L. Jones Fall; Q1Q2; 3.0 credits 28 Sessions Overview Note: this course is not for students with prior full-time VCPE... View Details
      • February 2021 (Revised June 2021)
      • Case

      Barbarians at the Gate or Turnaround Gurus? Private Equity and the Rise of the LBO

      By: Tom Nicholas and John Masko
      During the 1980s, leveraged buyouts (LBOs) and the private equity (PE) firms responsible for carrying them out revolutionized both investment and management in the U.S. Between 1980 and 1989, buyout activity in the U.S. surged from $1 billion per year to $60 billion.... View Details
      Keywords: Leveraged Buyouts; Mergers and Acquisitions; Business Conglomerates; Restructuring; Borrowing and Debt; Private Equity; Bonds; Investment Return; Institutional Investing; Profit Sharing; Business History; Management Style; Private Ownership; Performance Effectiveness; Value Creation; Financial Services Industry; United States
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      • September 2022 (Revised June 2025)
      • Case

      York Capital CLOs and WorldStrides International

      By: Victoria Ivashina and William Vrattos
      The case follows the debt restructuring of WorldStrides International, a travel program provider in the education market, after the onset of COVID-19. The pandemic severely impacted the travel industry, creating challenges for many companies like WorldStrides, which... View Details
      Keywords: COVID-19 Pandemic; Debt Restructuring; CLO; Compliance; Debt Securities; Financing and Loans; Decision Making; Travel Industry; Education Industry
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      • Spring 2012
      • Article

      The Roadmap for Private Equity, Venture Capital and Hedge Funds in Mexico: Alternative Assets as an Accelerator of Credit to Firms in Emerging Markets

      By: Roberto Charvel
      This article shows how alternative assets could be a good way for banks to start providing more loans to firms in emerging markets and finance growth, while giving local institutional investors access to new asset types. View Details
      Keywords: Private Equity; Venture Capital; Latin America; Mexico; Financial Intermediaries; Entrepreneurial Finance; Hedge Fund; Alternative Assets; Development Economics; Economic Growth; Private Sector; Economy; Entrepreneurship; Borrowing and Debt; Capital; Credit; Equity; Banking Industry; Financial Services Industry; Latin America; North America
      Related
      • January 2018 (Revised April 2021)
      • Case

      Capital Allocation at HCA

      By: W. Carl Kester and Emily R. McComb
      In early 2017, HCA Holdings, an investor-owned hospital management company, faced a strategically important capital allocation decision. After the exit of its private equity sponsors in 2016, HCA had to determine how best to allocate its substantial annual free cash... View Details
      Keywords: Capital Allocation; Cash Distribution Policy; Dividends; Share Repurchases; Growth Strategy And Execution; Growth Investing; Capital Expenditures; Debt Management; Debt Reduction; Debt Policy; Hospital Management; Investor-owned Hospital Chains; Capital Budgeting; Capital Structure; Cash Flow; Corporate Finance; Decision Choices and Conditions; Health Industry; United States
      Related
      • July 2017
      • Case

      Centerbridge Partners and Great Wolf Resorts: Buying from a Highly Regarded Competitor

      By: Josh Lerner, John D. Dionne and Amram Migdal
      The case examines the March 2015 Centerbridge Partners investment decision regarding whether to acquire Great Wolf Resorts, a North American family-oriented indoor water parks and hotel operator, from a private equity (PE) competitor, Apollo Global Management. The case... View Details
      Keywords: Private Equity Financing; Commercial Mortgage Backed Securities; CMBS; Secondary Buyouts; Business Ventures; Acquisition; Finance; Borrowing and Debt; Cost; Cost of Capital; Equity; Private Equity; Financial Instruments; Debt Securities; Accommodations Industry; Entertainment and Recreation Industry; Financial Services Industry; North and Central America; United States
      Related
      • March 2014 (Revised October 2014)
      • Teaching Note

      ISS A/S: The Buyout

      By: Lucy White and Carsten Bienz
      Provides the opportunity to value a leveraged buyout; and to examine the nature and extent of a company's responsibilities to its bondholders. Here, the context is a "going private" transaction in Europe, where the financing plan called for the addition to the... View Details
      Keywords: LBO; Private Equity; Contracts; Global Business; International Business; Finance; Ethics; Law; Service Industry; Europe
      Related
      • February 2014 (Revised October 2014)
      • Case

      ISS A/S: The Buyout

      By: Clayton Rose, Carsten Bienz and Lucy White
      Provides the opportunity to value a leveraged buy-out; and to examine the nature and extent of a company's responsibilities to its bondholders. Here, the context is a "going private" transaction in Europe, where the financing plan called for the addition to the... View Details
      Keywords: LBO; Private Equity; Contracts; Global Business; International Business; Finance; Ethics; Law; Service Industry; Europe
      Related