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Show Results For
- All HBS Web
(3,234)
- People (18)
- News (705)
- Research (1,732)
- Events (1)
- Multimedia (17)
- Faculty Publications (1,126)
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- December 2018 (Revised October 2019)
- Case
Barteca: The Challenge and Opportunity of Private Equity
By: Lena G. Goldberg and Michael S. Kaufman
Andy Pforzheimer and Sasa Mahr-Batuz, co-founders of a highly successful seven-location restaurant brand, had just opened the first location of a new brand. They had mapped out future expansion for both brands but wondered if, rather than lining up an assortment of... View Details
Goldberg, Lena G., and Michael S. Kaufman. "Barteca: The Challenge and Opportunity of Private Equity." Harvard Business School Case 319-076, December 2018. (Revised October 2019.)
- 2017
- Report
The Competitive Advantage of Racial Equity
By: Mark R. Kramer, Angela Glover Blackwell, Lalitha Vaidyanathan, Lakshmi Iyer and Josh Kirschenbaum
Corporate America is missing out on one of the biggest opportunities of our time for driving innovation and growth: creating business value by advancing racial equity.
Developed in partnership with PolicyLink and funded by the Ford and W.K. Kellogg foundations,... View Details
Developed in partnership with PolicyLink and funded by the Ford and W.K. Kellogg foundations,... View Details
Keywords: Racial Equity; Diversity; Race; Organizational Change and Adaptation; Competitive Advantage; Value Creation
Kramer, Mark R., Angela Glover Blackwell, Lalitha Vaidyanathan, Lakshmi Iyer, and Josh Kirschenbaum. "The Competitive Advantage of Racial Equity." Report, FSG, October 2017.
- March 2025
- Article
Do Public Financial Statements Influence Private Equity and Venture Capital Financing?
By: Brian K. Baik, Natalie Berfeld and Rodrigo S. Verdi
We study whether private firm public financial statements influence the probability of raising venture capital (VC) and private equity (PE) financing. In particular, we propose that private firms’ public financial statements can help the VC/PE search process by... View Details
Keywords: Business Economics; Search Costs; Accounting; Venture Capital; Governance; Private Equity; Financial Statements
Baik, Brian K., Natalie Berfeld, and Rodrigo S. Verdi. "Do Public Financial Statements Influence Private Equity and Venture Capital Financing?" Accounting Review 100, no. 2 (March 2025).
- June 2012
- Technical Note
Foreign vs. Local Funds: A Note on the Dynamics of the Private Equity Industry in China
By: Li Jin and Benjamin Y. Lee
- 2013
- Working Paper
The Operational Consequences of Private Equity Buyouts: Evidence from the Restaurant Industry
By: Albert W. Sheen and Shai Bernstein
What, if anything, do private equity firms do with businesses they acquire? We find evidence of significant operational changes in 101 restaurant chain buyouts between 2002 and 2012. Analysis of health inspections conducted for over 50,000 stores in Florida shows that... View Details
Keywords: Safety; Quality; Private Equity; Food; Management Practices and Processes; Leveraged Buyouts; Performance Efficiency; Retail Industry; Food and Beverage Industry; Florida
Sheen, Albert W., and Shai Bernstein. "The Operational Consequences of Private Equity Buyouts: Evidence from the Restaurant Industry." Working Paper, June 2013.
- October 1996 (Revised March 2011)
- Background Note
Note on Valuation in Private Equity Settings, A
By: Josh Lerner and John Willinge
This note discusses several ways in which venture-backed firms can be valued, including comparables, net present value, decision-tree analysis, and the "venture capital method." View Details
Lerner, Josh, and John Willinge. "Note on Valuation in Private Equity Settings, A." Harvard Business School Background Note 297-050, October 1996. (Revised March 2011.)
- September 1996 (Revised October 1996)
- Case
Private Equity Investment in Russia: Alliance Cellulose Limited
By: Andre F. Perold, James Gray and Roberto Mignone
Perold, Andre F., James Gray, and Roberto Mignone. "Private Equity Investment in Russia: Alliance Cellulose Limited." Harvard Business School Case 297-005, September 1996. (Revised October 1996.)
- February 2000 (Revised April 2004)
- Case
Butler Capital Partners and Autodistribution: Putting Private Equity to Work in France
Describes a proposed buyout transaction of Autodistribution, an entrepreneurial firm that is the leading car-parts distributor in France. The deal became feasible because of a failed takeover battle for Autodistribution's parent company. Private equity investor Butler... View Details
Keywords: Private Equity; Leveraged Buyouts; Valuation; Executive Compensation; Entrepreneurship; Distribution Industry; Auto Industry; France
Kuemmerle, Walter, and William J. Coughlin Jr. "Butler Capital Partners and Autodistribution: Putting Private Equity to Work in France." Harvard Business School Case 800-224, February 2000. (Revised April 2004.)
- 30 Apr 2009
- Working Paper Summaries
Earnings Quality and Ownership Structure: The Role of Private Equity Sponsors
- Article
What is the Other Reason of Why Private Equity Matters in Emerging Markets?
By: Roberto Charvel
Private equity investments in emerging markets can help increase the availability of credit for firms. View Details
Keywords: Alternative Assets; Emerging Economies; Venture Capital; Private Equity; Financial Services Industry; Latin America
Charvel, Roberto. "What is the Other Reason of Why Private Equity Matters in Emerging Markets?" Venture Equity Latin America 10, no. 16 (September 30, 2011).
- February 2018 (Revised December 2019)
- Case
The Tax Man: Taxes in Private Equity Real Estate
By: Nori Gerardo Lietz, Timothy J. Becker, Ricardo Andrade and Sayiddah F. McCree
In January 2018, Caelan Langan, an associate at KSW Partners LLC (“KSW”), was asked by Katherine Scott, the partner for whom he worked, to recommend a proposed structure to acquire a prominent office building in San Francisco for their most recent fund. Caelan was... View Details
Keywords: Real Estate; Alternative Investment Structures; Property; Acquisition; Private Equity; Investment; Management; Taxation; Policy
Lietz, Nori Gerardo, Timothy J. Becker, Ricardo Andrade, and Sayiddah F. McCree. "The Tax Man: Taxes in Private Equity Real Estate." Harvard Business School Case 218-077, February 2018. (Revised December 2019.)
- February 2015 (Revised February 2015)
- Module Note
Venture Capital and Private Equity Simulation Administrators' Guide
By: Matthew Rhodes-Kropf and Nathaniel Burbank
Rhodes-Kropf, Matthew, and Nathaniel Burbank. "Venture Capital and Private Equity Simulation Administrators' Guide." Harvard Business School Module Note 815-108, February 2015. (Revised February 2015.)
- 09 Sep 2013
- Working Paper Summaries
The Disintermediation of Financial Markets: Direct Investing in Private Equity
- 2025
- Working Paper
Private Equity and Workers: Modeling and Measuring Monopsony, Implicit Contracts, and Efficient Reallocation
By: Kyle Herkenhoff, Josh Lerner, Gordon M. Phillips, Francisca Rebelo and Benjamin Sampson
We measure the real effects of private equity buyouts on worker outcomes by building a new
database that links transactions to matched employer-employee data in the United States. To
guide our empirical analysis, we derive testable implications from three theories in... View Details
Herkenhoff, Kyle, Josh Lerner, Gordon M. Phillips, Francisca Rebelo, and Benjamin Sampson. "Private Equity and Workers: Modeling and Measuring Monopsony, Implicit Contracts, and Efficient Reallocation." Harvard Business School Working Paper, No. 25-046, March 2025. (Revised June 2025.)
- March 2017
- Teaching Note
Carmichael Roberts: To Create a Private Equity Firm?
By: Steven Rogers and Kenneth J. Cooper
Teaching Note for HBS No. 317-079. View Details
- March 2016
- Module Note
Venture Capital and Private Equity Simulation Administrators' Guide
By: Matthew Rhodes-Kropf and Nathaniel Burbank
- February 1998
- Case
Smith Breeden Associates: The Equity Plus Fund (B)
Supplements the (A) case. View Details
Moel, Alberto. "Smith Breeden Associates: The Equity Plus Fund (B)." Harvard Business School Case 298-094, February 1998.
- August 2013 (Revised December 2014)
- Case
Taking Dell Private
By: David J. Collis, David B. Yoffie and Matthew Shaffer
In July 2012, Michael Dell, CEO and founder of Dell, Inc., met with a representative of Silver Lake Partners to explore taking his company private. The company, which he had founded in his dorm room as a college freshman and which had made him the youngest Fortune 500... View Details
Keywords: Strategy; Going Private; The PC Market; Market For Corporate Control; Corporate Strategy; Leveraged Buyouts; Change Management; Private Equity; Market Entry and Exit; Private Ownership; Information Infrastructure; Applications and Software; Internet and the Web; Computer Industry; Technology Industry; United States
Collis, David J., David B. Yoffie, and Matthew Shaffer. "Taking Dell Private." Harvard Business School Case 714-421, August 2013. (Revised December 2014.)
- Fall 2017
- Article
An Empirical Analysis of Investment Return Dispersion in Emerging Markets Private Equity
By: Josh Lerner and Mark Baker
The authors use transaction-level data to compare the dispersion of private equity (PE) returns in emerging markets (EMs) to the same in developed markets (DMs). They regress within-market absolute deviation from the mean on an EM indicator and controls. They find... View Details
Lerner, Josh, and Mark Baker. "An Empirical Analysis of Investment Return Dispersion in Emerging Markets Private Equity." Journal of Private Equity 20, no. 4 (Fall 2017): 15–24.
- July 2023 (Revised February 2024)
- Case
Equity Restructuring at Dell Technologies: Buy Out, Buy Up, Buy In (A)
By: Stuart C. Gilson and Sarah L. Abbott
In November 2018, Dell Technologies was poised to re-enter the public markets by means of a complex recapitalization that would replace an entire class of publicly-traded “tracking stock,” with new shares that would trade publicly without the need of a formal IPO. The... View Details
Keywords: Technology; M＆A; Recapitalization; MBO; Equity Issues; Private Equity Buyouts; Public Ownership; Stock Shares; Mergers and Acquisitions; Equity; Technology Industry; United States
Gilson, Stuart C., and Sarah L. Abbott. "Equity Restructuring at Dell Technologies: Buy Out, Buy Up, Buy In (A)." Harvard Business School Case 224-005, July 2023. (Revised February 2024.)