Edward B. Berk - Faculty & Research - Harvard Business School
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Edward B. Berk

Senior Lecturer of Business Administration


Ted Berk is a Senior Lecturer of Business Administration in the Finance Unit at Harvard Business School. He currently teaches Finance II in the required curriculum.

Ted retired in 2016 as a managing director of Bain Capital, one of the world’s leading alternative investment firms, after nearly 20 years as a private equity investor. Ted was based in London for the majority of his career, where his primary focus was private equity investments supporting consumer-facing businesses in Europe. Ted held a number of leadership responsibilities at Bain Capital over the course of his career, including coordinating the European investment committee and recruiting.

Ted has broad investment experience, including high-growth situations, international expansions, founder transitions, and operational turnarounds. He has worked across Europe and in North America, South Africa and Japan.

Prior to joining Bain Capital, Ted worked as a consultant with Bain & Company in the United States. He graduated from Harvard Business School, as a Baker Scholar and Siebel Scholar, and he holds a Bachelor of Arts degree magna cum laude from Harvard College. Ted also attended the Ecole Polytechnique (Paris) as a Jean Monnet fellow.

Cases and Teaching Materials
  1. Altoona State Investment Board & Bain Capital Fund XI

    Josh Lerner and Ted Berk

    Considers the decision faced by state pension fund manager Rod Calhoun as he decides whether to invest $200 million in Bain Capital's eleventh global buyout fund: Bain Capital Fund XI. For the fund, Bain was offering its limited partners a choice among three different fee structures: first, a "conventional" fee structure of a 1.5% management fee with 20% carried interest and a 7% preferred rate of return; second, a 1% management fee with 30% carried interest and a 7% preferred rate of return; or third, a 0.5% management fee, 30% carried interest, and a 0% preferred rate of return. Should Calhoun invest in Bain? If he should, which fee structure should Calhoun choose?

    Keywords: Capital; design; entrepreneurship; Equity method; finance; Leveraged Buyout; management; management buyout; private equity; venture capital; Capital; Design; Entrepreneurship; Finance; Leveraged Buyouts; Management; Private Equity; Venture Capital; Banking Industry; Massachusetts;

    Citation:

    Lerner, Josh, and Ted Berk. "Altoona State Investment Board & Bain Capital Fund XI." Harvard Business School Case 218-022, August 2017.  View Details