Private Equity: A Casebook

Paul A. Gompers; Victoria  Ivashina; Richard S. Ruback

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Casebook | 2019

Private Equity: A Casebook

by Paul A. Gompers, Victoria Ivashina and Richard S. Ruback

Abstract

This book is a collection of cases and notes that have been used in Private Equity Finance, an advanced corporate finance course offered in the second year of the Harvard Business School’s MBA curriculum, over several years. Our goal is to provide detailed insight into the sources of value creation as well as outline the process of deal making in the private equity industry.

Keywords: Private Equity; Value Creation; Cases;

Format: Print

Find at Harvard Purchase

Citation:

Gompers, Paul A., Victoria Ivashina, and Richard S. Ruback. Private Equity: A Casebook. London: Anthem Press, 2019.

About the Authors

Paul A. Gompers

Eugene Holman Professor of Business Administration

Finance

Entrepreneurial Management

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Victoria Ivashina

Lovett-Learned Professor of Business Administration

Finance

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Richard S. Ruback

Baker Foundation Professor, Willard Prescott Smith Professor of Corporate Finance, Emeritus

Finance

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Case | HBS Case Collection | October 2019 (Revised June 2020)

Pantheon Ventures in 2019

Victoria Ivashina and Tonia Labruyere

The case discusses the strategy of Pantheon, a UK-based fund of funds investing in private equity. Client demands and preferences had changed in the aftermath of the 2008 global financial crisis and Pantheon had to adapt its business model to accommodate requests for new asset classes and customized portfolios. The challenge was to keep an eye on the fee structure, as clients also put pressure on the costs. Pantheon had extended its offer into infrastructure, real assets, and private debt, and had found a way to offer customized portfolio solutions at an acceptable cost level, but the very long-term nature of private asset classes was making it difficult to assess the success of this strategic turnaround.

Keywords: Financial Management; Private Equity; Corporate Strategy; Financial Services Industry; United Kingdom;

Citation:
Ivashina, Victoria, and Tonia Labruyere. "Pantheon Ventures in 2019." Harvard Business School Case 220-001, October 2019. (Revised June 2020.) View Details

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Case | HBS Case Collection | April 2020 (Revised June 2020)

WeWork - November 2018

Paul A. Gompers, Patrick Sweeney and Alex Gachanja

Citation:
Gompers, Paul A., Patrick Sweeney, and Alex Gachanja. "WeWork - November 2018." Harvard Business School Case 220-075, April 2020. (Revised June 2020.) View Details

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Article | Journal of Monetary Economics | June 2020

U.S. Monetary Policy and Emerging Market Credit Cycles

Falk Bräuning and Victoria Ivashina

Foreign banks’ lending to firms in emerging market economies (EMEs) is large and denominated predominantly in U.S. dollars. This creates a direct connection between U.S. monetary policy and EME credit cycles. We estimate that over a typical U.S. monetary easing cycle, EME borrowers experience a 32-percentage-point greater increase in the volume of loans issued by foreign banks than do borrowers from developed markets, with a similarly large effect upon reversal of the U.S. monetary policy stance. This result is robust across different geographic regions and industries and holds for U.S. and non-U.S. lenders, including those with little direct exposure to the U.S. economy. Local EME lenders do not offset the foreign bank capital flows; thus, U.S. monetary policy affects credit conditions for EME firms. We show that the spillover is stronger in higher-yielding and more financially open markets and for firms with a higher reliance on foreign bank credit.

Keywords: global business cycle; monetary policy; Reaching for yield; Money; Policy; Credit; Emerging Markets;

Citation:
Bräuning, Falk, and Victoria Ivashina. "U.S. Monetary Policy and Emerging Market Credit Cycles." Journal of Monetary Economics 112 (June 2020): 57–76. View Details

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Private Equity: A Casebook

Abstract

Citation:

About the Authors

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