Publications

January 2022
Article

Replicating Private Equity with Value Investing, Homemade Leverage, and Hold-to-Maturity Accounting

By: Erik Stafford

The contributions of asset selection and incremental leverage to buyout investment performance are more important than typically assumed or estimated to be. Buyout funds select small firms with distinct value characteristics. Public equities with these characteristics... View Details

Keywords: Replicating Portfolio; Private Equity; Investment Portfolio

Find at Harvard

Register to Read

November 2017
Case

One Life; One Love (A)

By: Thomas DeLong and Kerry Herman

Katie Hood, CEO of the One Love Foundation (One Love), a group dedicated to the prevention of relationship violence, had grown the organization's base of funding support to $6 million by 2017 and broadened its mandate to include relationships across many demographics.... View Details

Keywords: Start-up; ＂Leading A Foundation＂; Social Enterprise; Business Startups; Growth and Development Strategy; Leadership

March 2013
Article

Bridging the Gap? Government Subsidized Lending and Access to Capital

By: Josh Lerner and Kristle Romero-Cortes

The consequences of providing public funds to financial institutions remain controversial. We examine the Community Development Financial Institution (CDFI) Fund's impact on credit union activity, using hitherto little studied U.S. Treasury data. The CDFI Fund grants... View Details

Keywords: Financing and Loans; Credit; Government and Politics; Financial Institutions; United States

Find at Harvard

The literature finds that investors increase portfolio turnover following high returns, explaining it by either overconfidence or skilled trading. This paper develops a theoretical model and shows empirically that team-managed funds trade less after good... View Details

June 2008 (Revised February 2013)
Case

Vignettes on Governance of Private Equity Firms

By: G. Felda Hardymon, Ann Leamon and Eugenia Adofo

In a series of vignettes, Nigella Hardy-Smyth of an international development agency that invests in emerging markets private equity firms must decide how to handle various situations that arise. As a member of the Limited Partner Advisory Board of each of the five... View Details

Keywords: Private Equity; Investment Funds; Corporate Governance; Governing and Advisory Boards; Managerial Roles; Emerging Markets; Partners and Partnerships

28 Jul 2015
News

Will Congress Move Ahead on Highway Funding?

30 Jun 2019
News

Open-Plan Work Spaces Lower Productivity And Employee Morale

10 Jul 2023
Video

Advice to Underestimated Entrepreneurs

March 1998 (Revised October 2001)
Case

Xedia and Silicon Valley Bank (A)

By: Paul A. Gompers and Jon Biotti

Xedia, a networking equipment manufacturer that helps provide high-speed Internet service for corporate clients through access routing, wants a bridge loan to fund daily operations until it raises its next round of equity financing. View Details

Keywords: Venture Capital; Equity; Financing and Loans; Negotiation; Production; Internet; Banking Industry

Video

Runa Khan

Runa Khan, Founder and Executive Director of Friendship, an NGO supporting some of the poorest regions in Bangladesh, outlines her development of Friendship International as a means to increase funding and improve talent acquisition. View Details

October 2019
Supplement

Harlem Capital: Changing the Face of Entrepreneurship (B)

By: George Serafeim and David Freiberg

The (B) case describes Tingle and Pierre-Jacques’ decision to commit fully to Harlem Capital as their post-graduation job. The case explores the results of their fundraising efforts, new strategic partnerships, and how they plan to “build the market” in order to... View Details

Keywords: Impact Investing; Gender Bias; Gender Inequality; Minority Representation; Entrepreneurial Finance; Investment Management; Investing; Inequality; Venture Capital; Entrepreneurship; Diversity; Gender; Equality and Inequality; Equity; Mission and Purpose; Investment Funds; Financial Services Industry

07 May 2014
Video

Maureen Harrington - Making A Difference

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

24 Oct 2011
News

Top 'Innovators' Rank Low in R&D Spending

January 2011 (Revised January 2015)
Case

Matrix Capital Management (A)

By: Malcolm P. Baker and David Lane

Ben Balbale, a partner at hedge fund Matrix Capital, must decide whether to exit their investment in Rovi Corporation, a company with a diverse portfolio of patents used primarily for digital interactive guides. Rovi's shares are up over 50% from the time Balbale... View Details

Keywords: Forecasting and Prediction; Asset Management; Cash Flow; Stock Shares; Financial Markets; Investment Funds; Measurement and Metrics; Mathematical Methods; Strategy; Valuation; Financial Services Industry

Carl Kester is a Baker Foundation Professor and the George Fisher Baker Jr. Professor of Business Administration, Emeritus at Harvard Business School. He is a member of the Finance Unit. He served as Deputy Dean for Academic Affairs (2006-2010), Chairman of the... View Details

Keywords: asset management; banking; education industry; financial services; investment banking industry; pharmaceuticals; private equity (LBO funds)

June 2014 (Revised May 2017)
Case

Southeastern Asset Management Challenges Buyout at Dell

By: Paul Healy, Suraj Srinivasan and Aldo Sesia

In late 2012, Michael Dell wants to take Dell Inc., the company he founded, private. Mr. Dell believes that the successful company's transformation from a personal computer (PC) manufacturer to an enterprise solutions and services provider (ESS) is dependent on going... View Details

August 2019
Supplement

Baroo (B)

By: Thomas R. Eisenmann and Susie L. Ma

Baroo CEO Lindsay Hyde must secure venture capital funding if she wants to save her pet services startup. If she is unable to finance a series A, she will need to sell or shut down. View Details

Keywords: Entrepreneurship; Outcome or Result; Failure; Service Industry; United States; Massachusetts