Asset Allocation at the Cook County Pension Fund

Emil Nuwan Siriwardane

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Teaching Note | HBS Case Collection | December 2018

Asset Allocation at the Cook County Pension Fund

by Emil Nuwan Siriwardane

Abstract

Teaching Note for HBS No. 218-030.

Language: English

Format: Print

26 pages

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Citation:

Siriwardane, Emil Nuwan. "Asset Allocation at the Cook County Pension Fund." Harvard Business School Teaching Note 219-074, December 2018.

About the Author

Emil N. Siriwardane

Assistant Professor of Business Administration

Finance

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Supplement | HBS Case Collection | September 2017 (Revised March 2019)

Asset Allocation at the Cook County Pension Fund

Emil Nuwan Siriwardane

Citation:
Siriwardane, Emil Nuwan. "Asset Allocation at the Cook County Pension Fund." Harvard Business School Spreadsheet Supplement 218-704, September 2017. (Revised March 2019.) View Details

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Case | HBS Case Collection | September 2017 (Revised March 2019)

Asset Allocation at the Cook County Pension Fund

Emil Siriwardane, Juliane Begenau and Yuval Gonczarowski

Nickol Hackett, chief investment officer of the Cook County Pension Fund, is responsible for investing the fund’s $9 billion worth of assets on behalf of the employees of Cook County, Illinois. Like many other defined-benefit pensions at the time, the Cook County pension faces a funding shortfall, meaning that the value of its assets is below the value of its future obligations to retirees. Hackett can invest in fixed income securities, public equities, and alternative assets such as hedge funds, real estate, or private equity. What are the costs and benefits of each asset class? Should the funding status of the pension impact the asset allocation process? How should Hackett invest in order to grow the value of the fund’s assets and secure the retirement benefits for thousands of Cook County’s employees?

Keywords: Asset Management; Investment Funds; Financial Strategy; Decision Choices and Conditions;

Citation:
Siriwardane, Emil, Juliane Begenau, and Yuval Gonczarowski. "Asset Allocation at the Cook County Pension Fund." Harvard Business School Case 218-030, September 2017. (Revised March 2019.) View Details

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Case | HBS Case Collection | April 2018 (Revised March 2019)

Tesla-SolarCity

E. Scott Mayfield and Emil N. Siriwardane

On June 21, 2016, Tesla Motors, Inc. announced its offer to acquire SolarCity, bringing CEO Elon Musk one step closer to completing his goal of moving the world from a hydrocarbon-based economy to a solar-electric one. Markets and analysts were mixed in their reaction to the announcement; some thought the deal would be a distraction to Tesla management at a critical time; others thought it was a “bailout” of SolarCity. Following weeks of due diligence, Tesla and SolarCity finalized their merger agreement and worked to justify the transaction. Joan Banister, a financial advisor, must prepare to address her clients’ concerns about their various financial positions in Tesla and SolarCity.

Keywords: Tesla; SolarCity; solar power; Mergers and Acquisitions; Renewable Energy; Goals and Objectives; Finance;

Citation:
Mayfield, E. Scott, and Emil N. Siriwardane. "Tesla-SolarCity." Harvard Business School Case 218-108, April 2018. (Revised March 2019.) View Details

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Asset Allocation at the Cook County Pension Fund

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