Publications

24 Jun 2020
Video

Industry Spotlight Series: Private Equity

20 May 2019
News

What it can mean for Morehouse grads to have loans paid off by Robert Smith

February 2018 (Revised April 2018)
Case

Omar Simmons: Franchising and Private Equity

By: Steven Rogers and Alyssa Haywoode

Omar Simmons, managing director of a private equity fund that owns 53 Planet Fitness Health Clubs, has to choose: continue in private equity or shift his career to managing and growing the health clubs. An African-American graduate of Princeton University and Harvard... View Details

Keywords: Diversity Characteristics; Ethnicity Characteristics; Health Club Franchises; African-american Entrepreneurs; Finance; Private Equity; Decisions; Entrepreneurship; Motivation and Incentives; Personal Development and Career; Franchise Ownership; Consulting Industry; Boston

23 Jul 2021
News

The Cost of the Olympics’ ‘Runaway Arms Race’ and New Hope for Student Loan Borrowers in Bankruptcy

2025
Working Paper

Bank Capital and the Growth of Private Credit

By: Sergey Chernenko, Robert Ialenti and David Scharfstein

We show that business development companies (BDCs), a significant source of private credit, are very well capitalized according to bank capital frameworks. These types of private credit funds have median risk-based capital ratios of about 36%, which is 26 percentage... View Details

Keywords: Financing and Loans; Capital; Credit; Financial Institutions

SSRN

March 2001 (Revised April 2003)
Case

Chase's Strategy for Syndicating the Hong Kong Disneyland Loan (A)

By: Benjamin C. Esty and Michael Kane

In late 1999, the Walt Disney Co. and the Hong Kong government agreed to develop Hong Kong Disneyland, a HK$28 (U.S.$3.6) billion theme park and resort complex planned to open in late 2005. As part of the total financing package, the sponsors decided to raise HK$3.3... View Details

Keywords: Working Capital; Project Finance; Relationships; Financing and Loans; Financial Strategy; Tourism Industry; Hong Kong

June 2009 (Revised March 2010)
Supplement

Hansson Private Label, Inc.: Evaluating an Investment in Expansion, Student Spreadsheet (Brief Case)

By: Erik Stafford and Joel L. Heilprin

Keywords: Present Value; Forecasting; Expansion; Valuation; Forecasting and Prediction; Capital Budgeting

March 2008
Supplement

Patel Food and Chemicals Private Limited (B)

By: Felda Hardymon and Ann Leamon

Alok Patel, the founder and chairman of a Gujarat-based, privately held edible oils processor, has hired a CFO and the company is doing extremely well. He wants to add a new plant to process oilive oil, but estimates he will need $20 million. He must decide among... View Details

Keywords: Financial Management; Growth and Development Strategy; Financing and Loans; Investment; Financial Strategy; Food and Beverage Industry; Chemical Industry; Gujarat

Find at Harvard

We show that business development companies (BDCs)—closed-end funds that provide a significant share of nonbank loans to middle market firms—are very well capitalized according to bank capital frameworks. They have median risk-based capital ratios of about 36% and,... View Details

January 2021 (Revised March 2021)
Supplement

Juno (C): Leveraging Student Power

By: Joshua Schwartzstein, Kathleen L. McGinn and Amy Klopfenstein

In May 2020, Juno co-founders Chris Abkarians and Nikhil Agarwal decided to hold the annual auction for their student loan assistance startup. Five lenders submitted bids, and the co-founders ultimately opted to select Eager Bank as their partner for the 2020-2021... View Details

15 Sep 2020

Life at HBS Chat Series: MBA Students in Venture Capital & Private Equity Club

Hear straight from current HBS students regarding their MBA experience. Students will share their backgrounds and how they have cultivated their personal and professional interests while at HBS. View Details

June 1984 (Revised July 1999)
Background Note

Securities Law and Private Financing

By: Howard H. Stevenson and Michael J. Roberts

Describes the issues an entrepreneur faces in the process of raising private funds, and the securities laws which impact the process. Based in part on a note by R.E. Floor of the law firm of Goodwin, Procter & Hoar. View Details

Keywords: Entrepreneurship; Laws and Statutes; Private Equity; Financing and Loans

July 2011
Article

The Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking

By: Victoria Ivashina and Anna Kovner

This paper examines the impact of leveraged buyout firms' bank relationships on the terms of their syndicated loans. Using a sample of 1,590 loans financing private equity sponsored leveraged buyouts between 1993 and 2005, we find that bank relationships are an... View Details

Keywords: Leveraged Buyouts; Private Equity; Banks and Banking; Financing and Loans; Interest Rates; Investment Return; Relationships; Banking Industry; Financial Services Industry

April 1997
Case

Private Management and Public Schools (B)

Examines the prospects for private management in U.S. public schools. Focuses on the education and business strategies of firms seeking to expand as a result of charter school legislation that allowed for-profit entities to enter and compete for students with access to... View Details

Keywords: For-Profit Firms; Public Sector; Value; Education; Business Strategy; Government and Politics; Education Industry; United States