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  • All HBS Web  (3,627)
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  • August 2019 (Revised September 2021)
  • Background Note

Analytical Tools in Private Equity: Return Bridge

By: Victoria Ivashina and Abhijit Tagade
This note explains the rationale and derivation behind “return bridge,” a key analytical tool used in the private equity industry to understand sources of value-add. The note elaborates on the advantages and the shortcomings of the return bridge. View Details
Keywords: Return Bridge; Private Equity; Value Creation; Analysis
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Ivashina, Victoria, and Abhijit Tagade. "Analytical Tools in Private Equity: Return Bridge." Harvard Business School Background Note 220-019, August 2019. (Revised September 2021.) (Prof. Ivashina is using this note for course this semester.)
  • August 2001 (Revised April 2002)
  • Case

Strategic Capital Management, LLC (A)

By: Mark L. Mitchell, Erik Stafford and Todd Pulvino
Strategic Capital Management, LLC, is a hedge fund that is planning to make financial investments in Creative Computers and Ubid. Creative Computers recently sold approximately 20% of its Internet auction subsidiary, Ubid, to the public at $15 per share. Ubid's stock... View Details
Keywords: Risk and Uncertainty; Business Subsidiaries; Internet and the Web; Investment Funds; Price; Performance Efficiency; Capital Markets; Auctions; Investment Return; Equity; Planning; Financial Services Industry
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Mitchell, Mark L., Erik Stafford, and Todd Pulvino. "Strategic Capital Management, LLC (A)." Harvard Business School Case 202-024, August 2001. (Revised April 2002.)
  • November 2017 (Revised April 2019)
  • Case

Summa Equity: Building Purpose-Driven Organizations

By: George Serafeim
In 2015, Reynir Indahl left top Nordic private equity firm Altor Equity Partners to found Summa Equity (Summa). After long contemplation following the financial crisis, Indahl was convinced the financial system was producing negative externalities and that the current... View Details
Keywords: Corporate Purpose; ESG; ESG (Environmental, Social, Governance) Performance; Social Impact; Investment Management; Management Practices; Innovation; Voice; Environmental Impact; Private Equity; Social Enterprise; Finance; Capital Markets; Management Practices and Processes; Innovation Leadership; Leadership; Innovation and Management; Entrepreneurship; Mission and Purpose; Value Creation; Financial Services Industry; Norway; Sweden; Scandinavia
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Serafeim, George, and David Freiberg. "Summa Equity: Building Purpose-Driven Organizations." Harvard Business School Case 118-028, November 2017. (Revised April 2019.)
  • Web

Building a Culture of Awareness and Accountability in your Organization - Recruiting

proud to helm. Danika Manso-Brown is the founder of Manso Brown Group , an equity and inclusion education consultancy, and co-founder of Spoken Verb, a collaborative arts... View Details
  • April 2004 (Revised June 2004)
  • Case

Neeley University Investment Management Company

This case analyzes the problem of a university looking to reduce its private equity exposure in its endowment. The university hires Cogent Partners, a small investment bank specializing in private equity secondary trading. View Details
Keywords: Financial Management; Private Equity; Higher Education; Financial Services Industry; Education Industry
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Chacko, George C., Ian Charles, Colin McGrady, and Veeral Rathod. "Neeley University Investment Management Company." Harvard Business School Case 204-150, April 2004. (Revised June 2004.)
  • September 2022 (Revised January 2023)
  • Case

Bear to Bull: An Analyst’s Journey with Netflix

By: Aiyesha Dey, Joseph Pacelli, Jennifer G. Lawson and Tom Quinn
Wedbush Securities analyst Michael Pachter said “hell freezing over” was more likely than him upgrading the “sell” rating he had maintained on movie and television streaming giant Netflix since 2011, despite meteoric subscriber and share price growth. In 2022, however,... View Details
Keywords: Accounting; Asset Pricing; Cash Flow; Investment; Stocks; Equity; Analysis; Attitudes; Financial Services Industry; Entertainment and Recreation Industry; United States
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Dey, Aiyesha, Joseph Pacelli, Jennifer G. Lawson, and Tom Quinn. "Bear to Bull: An Analyst’s Journey with Netflix." Harvard Business School Case 123-001, September 2022. (Revised January 2023.)
  • 13 Apr 2021
  • News

How Inclusive Managers Create Glass-Shattering Organizations

  • 04 Feb 2014
  • Blog Post

VCPE Club prepares for their annual conference…20 years and running!

The Venture Capital & Private Equity Club, a student club at Harvard Business School, will hold its 20th Annual Venture Capital & Private Equity Conference February 9, 2014, on the Harvard Business... View Details
  • 09 May 2014
  • News

Giant Alibaba Sale Grew Out of '80s IPO Chaos and a Guy From Goldman

Keywords: Goldman Sachs; IPO; Securities, Commodities, and Other Financial Investments; Finance
  • October 2013 (Revised April 2018)
  • Technical Note

Non-Equity Financing for Entrepreneurial Ventures

By: Joan Farre-Mensa, Ramana Nanda and Piyush Jain

Young, and particularly high-growth ventures often need to raise significant external finance, since their internal cash flow is usually insufficient to support the investments needed to grow. Although raising equity from venture capital or angel investors is the... View Details

Keywords: Entrepreneurial Finance; Entrepreneurship; Finance; Financial Services Industry
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Farre-Mensa, Joan, Ramana Nanda, and Piyush Jain. "Non-Equity Financing for Entrepreneurial Ventures." Harvard Business School Technical Note 814-005, October 2013. (Revised April 2018.)
  • December 2002 (Revised February 2015)
  • Case

Jim Sharpe: Extrusion Technology, Inc. (Abridged)

By: H. Kent Bowen and Barbara Feinberg
Jim Sharpe, 10 years after receiving his MBA from Harvard and working for others, has finally become his own boss and 100% owner of manufacturer of aluminum extrusions. After 10 months of an unfunded search, he acquires the business in an LBO and prepares to face his... View Details
Keywords: Search Funds; Search; Entrepreneurial Management; Operations Strategy; Acquisitions; Work/family Balance; Unions; Union; Turnarounds; Funding Model; LBO; Bank Debt; Bank Loans; Equity Investment; Career Management; Small Business; Work-Life Balance; Negotiation; Operations; Labor Unions; Investment; Entrepreneurship; Financing and Loans; Borrowing and Debt; Business Strategy; Manufacturing Industry
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Bowen, H. Kent, and Barbara Feinberg. "Jim Sharpe: Extrusion Technology, Inc. (Abridged) ." Harvard Business School Case 603-084, December 2002. (Revised February 2015.)
  • 31 May 2021
  • News

How Three Survivors of the Tulsa Race Massacre Continue to Fight for Reparations 100 Years Later

  • Article

Corporate Social Responsibility and Access to Finance

By: Beiting Cheng, Ioannis Ioannou and George Serafeim
In this paper, we investigate whether superior performance on corporate social responsibility (CSR) strategies leads to better access to finance. We hypothesize that better access to finance can be attributed to a) reduced agency costs due to enhanced stakeholder... View Details
Keywords: Corporate Social Responsibility; Sustainability; Capital Constraints; ESG (Environmental, Social, Governance) Performance; Stakeholder Engagement; Disclosure; Corporate Disclosure; Corporate Social Responsibility and Impact; Environmental Sustainability; Capital
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Cheng, Beiting, Ioannis Ioannou, and George Serafeim. "Corporate Social Responsibility and Access to Finance." Strategic Management Journal 35, no. 1 (January 2014): 1–23.

    Sara L. Fleiss

    Sara Fleiss was the co-founder and co-portfolio manager of Emeth Partners, an emerging markets arbitrage hedge fund.  Prior to founding Emeth, Sara was the lead analyst on the Emerging Markets Equities portfolio at Harvard Management Company (HMC). At HMC, Sara... View Details

    • February 2013 (Revised June 2017)
    • Case

    Project Sun Devil and Project Paris

    By: Nori Gerardo Lietz
    Tony Lee is preparing to present a project to the investment committee of Howard Street Capital. He will be recommending an investment in Project Sun Devil, a high-quality 225-unit student housing rental property near Tempe, Arizona. Tony Lee will compete for capital... View Details
    Keywords: General Management; Financial Analysis; Return On Assets; Accounting; Performance Measurement; Financial Ratios; Return On Equity; Financial Statements; Profitability Analysis; Portfolio Investment; Portfolio Management; Real Estate; Property; Investment Portfolio; Investment Return; Real Estate Industry; United States
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    Lietz, Nori Gerardo. "Project Sun Devil and Project Paris." Harvard Business School Case 213-078, February 2013. (Revised June 2017.)
    • 30 Mar 2021
    • Blog Post

    Africa Rising: Understanding Business, Entrepreneurship, and the Complexities of a Continent with Professor Hakeem Belo-Osagie

    the course? My guests are leaders in the respective topics of each class. For example, a class on leadership would have the President or Vice President of a country. A class on private View Details
    • 2010
    • Case

    Vander Mining Partners, IPADE

    By: Roberto Charvel
    In 2010 Vander Mining was trying to raise one of the few private equity funds specialized in mining. This was difficult among other things because institutional investors did not have a private equity team specialized in mining and emerging markets. View Details
    Keywords: Real Assets; Business Startups; Business Plan; Economics; Metals and Minerals; Mining; Assets; Private Equity; Public Equity; Goods and Commodities; Emerging Markets; Market Participation; Mining Industry; Financial Services Industry; North and Central America
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    Charvel, Roberto. "Vander Mining Partners, IPADE." Mexico City: Instituto Panamericano de Alta Dirección de Empresa (IPADE) Case EE 10 C 09, 2010.
    • Web

    Rewiring the Workplace: Behavioral Economics and the Future of Inclusive Organizations - Blog: RGE Report

    interviews here: Interview with Professor Beshears Interview with Professor Coffman Addressing systemic inequality is a complex, multifaceted, and often behemoth task that we attempt to tackle from multiple vantage points. Organizations often approach workplace View Details
    • February 2016 (Revised March 2019)
    • Case

    Bankruptcy at Caesars Entertainment

    By: Kristin Mugford and David Chan
    Caesars Entertainment was a large casino operator in the United States that had been purchased in a 2008 leveraged buyout by Apollo and TPG. In January 2015, Caesars Entertainment Operating Company (CEOC), its largest subsidiary, filed for Chapter 11. This set up a... View Details
    Keywords: Gaming; Chapter 11; Fraudulent Conveyance; Apollo; TPG; Bankruptcy; Leveraged Buyouts; Restructuring; Capital Structure; Insolvency and Bankruptcy; Private Equity; Financial Management; Lawsuits and Litigation; Negotiation; Games, Gaming, and Gambling; Entertainment and Recreation Industry; Las Vegas
    Citation
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    Mugford, Kristin, and David Chan. "Bankruptcy at Caesars Entertainment." Harvard Business School Case 216-052, February 2016. (Revised March 2019.)
    • October 1996 (Revised November 1997)
    • Background Note

    Venture Capital and Private Equity: Course Overview

    By: Josh Lerner
    Provides an overview of the Venture Capital and Private Equity modules. View Details
    Keywords: Venture Capital; Private Equity
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    Lerner, Josh. "Venture Capital and Private Equity: Course Overview." Harvard Business School Background Note 297-045, October 1996. (Revised November 1997.)
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