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Investure, LLC, and Smith College
Chaplinsky, Susan; Harris, Robert S.; Kelly, Dorothy C.Case DARDEN-F-1537-EFinanceAlice Handy, an investment professional with 30 years' experience as head of the University of Virginia Investment Management Company, has opened a new asset management firm targeted at midsize endowments and nonprofit institutions in January 2004. Her business, Investure, LLC, offered outsourced investment services to institutions with $150 million to $1 billion in assets and access to top-performing managers at lower cost than a fund of funds (...Starting at €8.20
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TRX, Inc.: Initial Public Offering
Chaplinsky, Susan; Morita, Kensei; Zeng, XingCase DARDEN-F-1568-EFinanceThis case provides comprehensive coverage of a firm’s decision to undertake an IPO and the process of going public. The case follows the sequence of events from the company’s incorporation in 1999 through the completion of an IPO in September 2005. In addition to raising capital, the TRX IPO case also includes consideration of another motivation for going public. At the time of its incorporation in November 1999, TRX attempted to go public but in...Starting at €8.20
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Goodyear Tire & Rubber Company: Follow-On Equity Issue
Chaplinsky, Susan; Estey, WarrenCase DARDEN-F-1596-EFinanceThis case explains marketing process for follow-on equity offerings, the direct and indirect costs of issue, and the long-run performance of equity issuers. Students use analysts’ projections from which to estimate the intrinsic value of the company’s share-including the cost savings from the VEBA and financial improvements over the next several years. It is appropriate for use in corporate finance courses covering the topics of capital raising, ...Starting at €8.20
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Valuation of Late-Stage Companies and Buyouts
Chaplinsky, Susan; Khetrepal, ShikhaTechnical Note DARDEN-F-1639-EFinanceThis note focuses on the valuation of late-stage companies with a particular emphasis on leveraged buyouts (LBOs). In addition to LBOs, late-stage investments can arise in situations involving growth equity, turnarounds, mezzanine investments, and distressed debt. In contrast to venture capital, where firms are typically at an early stage of development, late-stage investments involve more established businesses that have an ability to take on hi...Starting at €8.20
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Primary Integration, LLC: Lower-Middle-Market Investment
Chaplinsky, Susan; Yang, Jiaxin (Cathy)Case DARDEN-F-1705-EFinanceThis case is used in Darden's course elective "Entrepreneurial Finance and Private Equity." Students are asked to analyze the internal rate of return and cash-on-cash returns that a private equity firm is likely to achieve on a particular investment. In addition, students are asked to assess whether the minority rights negotiated in this deal are sufficient to protect the firm's interests in the absence of a controlling equity stake. If instructo...Starting at €8.20
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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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Summit Partners and RoboSoft, LLC: Mezzanine Debt Investment
Chaplinsky, Susan; Whittemore, Alexander D.Case DARDEN-F-1845-EFinanceIn February 2013, John Carroll and Alexander Whittemore, both managing directors at Summit Partners (Summit), are considering an investment in RoboSoft, LLC (RoboSoft), a provider of data-center automation, business intelligence, and security software solutions, primarily for the IBM i operating system. Summit had previously invested in RoboSoft, and did well when it exited the company in 2007. Over the ensuing years, Summit had followed RoboSoft...Starting at €8.20
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Elephant Bar Restaurant: Mezzanine Financing - Teaching Note
Chaplinsky, Susan; Anderson, KristinaTeaching Note DARDEN-F-1542TN-EFinanceTeaching note for product F-1542Starting at €0.00
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Bidding for Hertz: Leveraged Buyout - Teaching Note
Chaplinsky, Susan; Marston, Felicia C.Teaching Note DARDEN-F-1560TN-EFinanceTeaching note for product F-1560Starting at €0.00
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TRX, Inc.: Initial Public Offering - Teaching Note
Chaplinsky, SusanTeaching Note DARDEN-F-1568TN-EFinanceTeaching note for product F-1568Starting at €0.00