Finance
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- June 2024
- Case
Caesars Entertainment: Governance on the Road to Bankruptcy
By: Kristin MugfordCaesars Entertainment was a large casino operator in the United States that had been purchased in a 2008 leveraged buyout by Apollo and TPG. In January 2015, Caesars Entertainment Operating Company (CEOC), its largest subsidiary, filed for Chapter 11. This set up a battle between the company and a set of large, distressed investors. At issue was not only how to restructure the business and reduce Caesars' debt, but also multiple lawsuits alleging that the company had damaged creditors in their quest to preserve equity value. Of particular focus were a series of transactions that took place during 2013 and 2014 to sell assets from one subsidiary to another and to eliminate a valuable parent guarantee that had been granted to CEOC creditors. This case provides a good example of a variety of "defensive maneuvers" employed by companies and their private equity sponsors to protect a troubled investment.
- June 2024
- Case
Caesars Entertainment: Governance on the Road to Bankruptcy
By: Kristin MugfordCaesars Entertainment was a large casino operator in the United States that had been purchased in a 2008 leveraged buyout by Apollo and TPG. In January 2015, Caesars Entertainment Operating Company (CEOC), its largest subsidiary, filed for Chapter 11. This set up a battle between the company and a set of large, distressed investors. At issue was...
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- June 2024
- Case
Tremblant Capital: Launching an Active ETF
By: Robin Greenwood, Luis M. Viceira and Robert IalentiThe case highlights deliberations led by Brett Barakett, CEO and chief investment officer of Tremblant Capital, just months prior to launching an actively managed ETF, Tremblant Global (TOGA). However, his team continued to have reservations around the launch. On the one hand, TOGA would provide investors compelled by Tremblant’s investment philosophy a more tax-efficient, liquid, and transparent product, at a lower cost than its long-only fund. On the other hand, there were concerns that TOGA might cannibalize Tremblant’s higher-fee hedge fund business, increase its disclosure requirements, and expose the firm to greater counterparty risk.
- June 2024
- Case
Tremblant Capital: Launching an Active ETF
By: Robin Greenwood, Luis M. Viceira and Robert IalentiThe case highlights deliberations led by Brett Barakett, CEO and chief investment officer of Tremblant Capital, just months prior to launching an actively managed ETF, Tremblant Global (TOGA). However, his team continued to have reservations around the launch. On the one hand, TOGA would provide investors compelled by Tremblant’s investment...
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- May 2024
- Case
MStudio and Djoli: Accelerating Startup Growth in Francophone Africa
By: Paul A. Gompers, Pippa Tubman Armerding and Temitayo Lawal- May 2024
- Case
MStudio and Djoli: Accelerating Startup Growth in Francophone Africa
By: Paul A. Gompers, Pippa Tubman Armerding and Temitayo Lawal
About the Unit
Our strategy is to assemble and nurture a faculty whose interests and skills complement each other, and who work well together:
a) to produce a broad range of finance-related research that is published in top-tier scientific and practitioner journals, and that addresses issues of present and future importance to managers (including regulators and policy makers);
b) to develop highly-relevant and intellectually rigorous MBA and executive education courses; and
c) to mentor future academics through the Business Economics doctoral program.
Our applied focus and access to business organizations are major advantages which are reinforced by our students and our case-based approach. We have a faculty with broad expertise, and we have resources, field contacts, and institutional support, all of which we can leverage to do richer work and be more productive than we could at other institutions.
Recent Publications
Caesars Entertainment: Governance on the Road to Bankruptcy
- June 2024 |
- Case |
- Faculty Research
Tremblant Capital: Launching an Active ETF
- June 2024 |
- Case |
- Faculty Research
Heritage Holding (B)
- June 2024 |
- Supplement |
- Faculty Research
Heritage Holding (A)
- June 2024 |
- Supplement |
- Faculty Research
Legacy Partners (B)
- June 2024 |
- Supplement |
- Faculty Research
Legacy Partners (A)
- June 2024 |
- Supplement |
- Faculty Research
MStudio and Djoli: Accelerating Startup Growth in Francophone Africa
- May 2024 |
- Case |
- Faculty Research
The Silicon Valley Bank Crisis: MAPFRE USA’s Investment in SVB Financial Group Bonds
- May 2024 |
- Case |
- Faculty Research
Harvard Business Publishing
Seminars & Conferences
There are no upcoming events.