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SuDa Electric Vehicle Company: Private Equity Investment in China
Chaplinsky, Susan; Hoang, LinhCase DARDEN-F-1766-EFinanceIn March 2013, the Shipston Group, the family office of billionaire industrialist Michael D. Dingman, was considering a private equity investment in the SuDa Electric Vehicle Company (SuDa), a rapidly growing maker of electric bicycles (e-bikes) in the People's Republic of China (PRC). This field-based case explores the differences between investments that are funded through a family office compared to a more traditional committed fund. Shipston ...Starting at €8.20
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Investure, LLC: Investing in Alternative Assets
Chaplinsky, SusanCase DARDEN-F-1971-EFinanceIn July 2019, Bruce Miller, CEO of Investure, LLC (Investure), an outsourced chief investment office (OCIO), is preparing a proposal for Franklin and Marshall (F&M), a small liberal arts college located in Lancaster, Pennsylvania, with an endowment of $350 million. F&M recently began a search to find a new endowment manager in hopes of improving its investment returns and access to alternative assets (AA), such as private equity (PE) and hedge fu...Starting at €8.20
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Susser Petroleum Partners, LP: IPO of a Master Limited Partnership
Chaplinsky, Susan; Simkins, Betty J.; Butler, John C.; Titman, SheridanCase DARDEN-F-2006-EFinanceThis case explores Susser Holdings Corporation (SHC), a Texas-based company with two businesses: operating large-footprint convenience stores that sold fuel, food, and other merchandise; and fuel distribution—both to its own stores and to such companies as Conoco, Chevron, Citgo, Exxon, Mobil, Phillips 66, Texaco, and Valero. In 2012, Sam Susser, SHC’s president and CEO, was under pressure to create value for SHC’s shareholders and an exit for We...Starting at €8.20
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IN-fusion, Inc.
Chaplinsky, SusanCase DARDEN-F-1584-EFinanceThis case is designed as an introductory exercise to familiarize students with several methods used to value early-stage companies. The value of a young biotech company is compared under the venture capital (VC), discounted cash flow (DCF), and real option methods of valuation. Students are asked to value the firm under the VC and DCF methods and then compare those values to the value obtained under the real option method. It is suggested that th...Starting at €8.20
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Serving the World's Poor, Profitably (Spanish version)
Prahalad, C.K.; Hammond, AllenArticle HBS-R0209CEconomicsBy stimulating commerce and development at the bottom of the economic pyramid, multinationals could radically improve the lives of billions of people and help create a more stable, less dangerous world. Achieving this goal does not require MNCs to spearhead global social-development initiatives for charitable purposes. They need only act in their own self-interest. How? The authors lay out the business case for entering the world's poorest market...Starting at €8.20
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Early-Stage Term Sheets
Chaplinsky, SusanTechnical Note DARDEN-F-1730-EFinanceThis note was written as an updated version of "The Early-Stage Term Sheet" (UVA-F-1444) and may be used in its place.In seeking funding for an early-stage company, the entrepreneur and investor will confront choices about the amount, terms, and conditions of the financing. These terms are usually set forth in a term sheet that contains a host of provisions designed to protect the value of an investor’s capital. These terms define the investor’s ...Starting at €8.20
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Elephant Bar Restaurant: Mezzanine Financing
Chaplinsky, Susan; Anderson, KristinaCase DARDEN-F-1542-EFinanceIn November 2003, John Fruehwirth, a principal at Allied Capital, was considering a $20 million mezzanine investment in growth capital for Elephant Bar, a California restaurant chain. Elephant Bar had had some initial success in California but now Allied’s investment committee had to wrestle with the question of whether the restaurant concept was strong enough to travel and become a national brand or whether it was mainly a “California Concept.” ...Starting at €8.20
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Oregon Public Employees Retirement Fund: Push and Pull Over GP/LP Compensation
Chaplinsky, Susan; Loutskina, Elena; Walsh, RobCase DARDEN-F-1628-EFinanceThe case is designed to explore the structure and rationale behind the standard compensation arrangements in the private equity (PE) industry. It effectively introduces students to commonly used terms of limited partnership agreements (LPAs), such as fees, carried interest, and preferred terms or hurdle rates. The backdrop for the Oregon Public Employees Retirement Fund (OPERF) case is the changed market conditions following the 2007 financial cr...Starting at €8.20
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Best Practices Get You Only So Far
Prahalad, C.K.Article HBS-F1004H-EBenchmarking best practices allows enterprises to catch up with the competition, but it won't turn them into market leaders. Organizations become winners by spotting big opportunities and inventing next practices. Executives can unearth opportunities by identifying big problems that their companies will benefit by tackling. They must ask six questions: (1) Is the problem widely recognized? (2) Does it affect other industries? (3) Are radical inno...Starting at €8.20
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Micron Technology, Inc.: Riding the Wave-Refinancing Convertible Notes
Chaplinsky, Susan; Nguyen, NhatCase DARDEN-F-1719-EFinanceIn 2013, Micron Technology (Micron), a leading provider of advanced memory solutions, was finally having a good year after several difficult years. In July, its share price rose above $14, an increase of more than 100% since the beginning of the year. In light of the recently improved performance, Ronald C. Foster, vice president of finance and CFO, was reevaluating the firm’s financing policies. Micron had historically made heavy use of converti...Starting at €8.20