Claudia Zeisberger

Senior Affiliate Professor of Entrepreneurship and Family Enterprise

Email [email protected]

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Sula Vineyards (B): The Entrepreneur's Dilemma - Managing Investor Exits

By Claudia Zeisberger, Maninder Minhas

The case focuses on the risks and rewards of early-stage investing in a successful emerging market consumer start-up (i.e. non-tech), from seed funding in 2004 to raising expansion capital in 2019. We observe the founder of Sula Vineyards, a winemaker from the Nasik Valley in India, as he makes decisions about external fundraising. Case (A) takes the seed investor perspective.

Published 30 Sep 2019

Reference 5668

Topic Entrepreneurship

Industry Venture Capital, Food and Beverages Production, Wine and Spirits

Region Asia

Sula Vineyards (B): The Entrepreneur's Dilemma - Managing Investor Exits

By Claudia Zeisberger, Maninder Minhas
Published 30 Sep 2019
Reference 5668
Topic Entrepreneurship
Region Asia
Industry Venture Capital, Food and Beverages Production, Wine and Spirits

The case focuses on the risks and rewards of early-stage investing in a successful emerging market consumer start-up (i.e. non-tech), from seed funding in 2004 to raising expansion capital in 2019. We observe the founder of Sula Vineyards, a winemaker from the Nasik Valley in India, as he makes decisions about external fundraising. Case (A) takes the seed investor perspective.

Sula Vineyards (C): Series E and Beyond - What Next? The Ownership Conundrum

By Claudia Zeisberger, Maninder Minhas

The case focuses on the risks and rewards of early-stage investing in a successful emerging market consumer start-up (i.e. non-tech), from seed funding in 2004 to raising expansion capital in 2019. We observe the founder of Sula Vineyards, a winemaker from the Nasik Valley in India, as he makes decisions about external fundraising. Case (A) takes the seed investor perspective.

Published 30 Sep 2019

Reference 5668

Topic Entrepreneurship

Industry Venture Capital, Food and Beverages Production, Wine and Spirits

Region Asia

Sula Vineyards (C): Series E and Beyond - What Next? The Ownership Conundrum

By Claudia Zeisberger, Maninder Minhas
Published 30 Sep 2019
Reference 5668
Topic Entrepreneurship
Region Asia
Industry Venture Capital, Food and Beverages Production, Wine and Spirits

The case focuses on the risks and rewards of early-stage investing in a successful emerging market consumer start-up (i.e. non-tech), from seed funding in 2004 to raising expansion capital in 2019. We observe the founder of Sula Vineyards, a winemaker from the Nasik Valley in India, as he makes decisions about external fundraising. Case (A) takes the seed investor perspective.

Private Equity Achieves Returns through Operating Improvements: CD&R's Acquisition and Turnaround of Hertz

By Claudia Zeisberger, Peter Goodson, Kimberly McGinnis, Dickson L. Louie, Nicholas Shannahan

Private equity firm Clayton, Dubilier & Rice (CD&R) is preparing a bid for leading US car rental agency Hertz. By replacing Hertz’s top managers, improving capital management and driving down operating costs, CD&R sees an opportunity to nearly double EBITDA. However, the turnaround involves significant risks, which CD&R must weigh in preparing its bidding strategy.

Published 23 Apr 2018

Reference 6355

Topic Economics & Finance

Industry Private Equity

Region North America

Private Equity Achieves Returns through Operating Improvements: CD&R's Acquisition and Turnaround of Hertz

By Claudia Zeisberger, Peter Goodson, Kimberly McGinnis, Dickson L. Louie, Nicholas Shannahan
Published 23 Apr 2018
Reference 6355
Topic Economics & Finance
Region North America
Industry Private Equity

Private equity firm Clayton, Dubilier & Rice (CD&R) is preparing a bid for leading US car rental agency Hertz. By replacing Hertz’s top managers, improving capital management and driving down operating costs, CD&R sees an opportunity to nearly double EBITDA. However, the turnaround involves significant risks, which CD&R must weigh in preparing its bidding strategy.

ACTIS' Pan-Regional Payment Platform: Private Equity Buy-and-build Strategy in the Middle East and Africa

By Claudia Zeisberger, Jean Wee

In 2010, ACTIS embarked on an ambitious project to build a pan-Middle East and Africa (MEA) payments platform. It had purchased Mediterranean Smart Cards Company (MSCC), a bankcard issuer with operations across Africa, and had identified a follow-on target, Visa Jordan Card Services (VJCS) as part of its buy-and-build strategy, and another potential acquisition in South Africa.

Published 29 Jan 2018

Reference 6363

Industry Private Equity

Region Middle-East

ACTIS' Pan-Regional Payment Platform: Private Equity Buy-and-build Strategy in the Middle East and Africa

By Claudia Zeisberger, Jean Wee
Published 29 Jan 2018
Reference 6363
Topic Strategy
Region Middle-East
Industry Private Equity

In 2010, ACTIS embarked on an ambitious project to build a pan-Middle East and Africa (MEA) payments platform. It had purchased Mediterranean Smart Cards Company (MSCC), a bankcard issuer with operations across Africa, and had identified a follow-on target, Visa Jordan Card Services (VJCS) as part of its buy-and-build strategy, and another potential acquisition in South Africa.

Careem vs. the Ride-Hailing Goliath: Abraaj Journeys Further Into the Tech-enabled Consumer Space

By Claudia Zeisberger, Bowen White, Jean Wee

Careem, a Dubai-based ride-hailing company, was founded in 2012 in the United Arab Emirates (UAE) by two ex-McKinsey consultants who saw a gap in the transport market.

Published 15 Dec 2017

Reference 6333

Topic Entrepreneurship

Industry Private Equity, Transportation/Trucking/Railroad

Region Middle-East

Careem vs. the Ride-Hailing Goliath: Abraaj Journeys Further Into the Tech-enabled Consumer Space

By Claudia Zeisberger, Bowen White, Jean Wee
Published 15 Dec 2017
Reference 6333
Topic Entrepreneurship
Region Middle-East
Industry Private Equity, Transportation/Trucking/Railroad

Careem, a Dubai-based ride-hailing company, was founded in 2012 in the United Arab Emirates (UAE) by two ex-McKinsey consultants who saw a gap in the transport market.

Finding the Perfect Recipe: KKR's Buyout of WMF

By Vikas A. Aggarwal, Claudia Zeisberger, Jean Wee

In May 2012, private equity firm KKR is considering the buyout of WMF group (WMF), a diversified kitchenware and professional coffee machine manufacturer headquartered in Geislingen, Germany. The deal seems a potentially compelling investment opportunity, with various options for value creation – expanding WMF’s well-established brand to other geographies as well as reducing costs.

Published 28 Aug 2017

Reference 6310

Topic Entrepreneurship

Industry Private Equity

Region Europe

Finding the Perfect Recipe: KKR's Buyout of WMF

By Vikas A. Aggarwal, Claudia Zeisberger, Jean Wee
Published 28 Aug 2017
Reference 6310
Topic Entrepreneurship
Region Europe
Industry Private Equity

In May 2012, private equity firm KKR is considering the buyout of WMF group (WMF), a diversified kitchenware and professional coffee machine manufacturer headquartered in Geislingen, Germany. The deal seems a potentially compelling investment opportunity, with various options for value creation – expanding WMF’s well-established brand to other geographies as well as reducing costs.

Hitting the Target: Optimizing a Private Equity Portfolio with Partners Group

By Anne-Marie Carrick, Bowen White, Claudia Zeisberger

In 2011, Partners Group is nearing the end of a year-long quest for a new mandate from a European pension fund, Future Plan. The fund has struggled with its 6-year old PE programme, consistently falling short of its target allocation to the asset class and generating poor returns, seemingly always one step behind the opportunity in the market.

Published 29 May 2017

Reference 6256

Topic Entrepreneurship

Industry Private Equity

Region Europe

Hitting the Target: Optimizing a Private Equity Portfolio with Partners Group

By Anne-Marie Carrick, Bowen White, Claudia Zeisberger
Published 29 May 2017
Reference 6256
Topic Entrepreneurship
Region Europe
Industry Private Equity

In 2011, Partners Group is nearing the end of a year-long quest for a new mandate from a European pension fund, Future Plan. The fund has struggled with its 6-year old PE programme, consistently falling short of its target allocation to the asset class and generating poor returns, seemingly always one step behind the opportunity in the market.

Differentiation Beyond Price: CD&R’s Strategy in Acquiring Hussmann

By Peter Goodson, Kimberly McGinnis, Claudia Zeisberger

In 2011, Ingersoll-Rand (IR) decided to divest its refrigeration equipment subsidiary, Hussmann International. However, the routine auction process for the non-core asset went awry when both Hussmann’s performance and external finance markets weakened significantly during the due diligence period.

Published 30 Jan 2017

Reference 6251

Topic Economics & Finance

Industry Private Equity, Security and Investigations

Region North America

Differentiation Beyond Price: CD&R’s Strategy in Acquiring Hussmann

By Peter Goodson, Kimberly McGinnis, Claudia Zeisberger
Published 30 Jan 2017
Reference 6251
Topic Economics & Finance
Region North America
Industry Private Equity, Security and Investigations

In 2011, Ingersoll-Rand (IR) decided to divest its refrigeration equipment subsidiary, Hussmann International. However, the routine auction process for the non-core asset went awry when both Hussmann’s performance and external finance markets weakened significantly during the due diligence period.

Pro-invest: How to Launch a Private Equity Real Estate Fund

By Claudia Zeisberger, Bowen White, Anne-Marie Carrick

The case describes how the Pro-invest Group – a boutique investment firm specialising in private equity real estate and real estate asset management – built its business and raised a first-time private equity fund.

Published 26 Aug 2016

Reference 6221

Topic Entrepreneurship

Industry Private Equity

Region Asia

Pro-invest: How to Launch a Private Equity Real Estate Fund

By Claudia Zeisberger, Bowen White, Anne-Marie Carrick
Published 26 Aug 2016
Reference 6221
Topic Entrepreneurship
Region Asia
Industry Private Equity

The case describes how the Pro-invest Group – a boutique investment firm specialising in private equity real estate and real estate asset management – built its business and raised a first-time private equity fund.

The Indian Railways 'Cash Cow' - Over or Extra Loading? (A): Confidential Instructions for Sudhir Kumar

By Horacio Falcao, Claudia Zeisberger, Claudia Gehlen

This two-party case is designed to teach negotiation within the context of turnaround management, stakeholder management, change management or public sector negotiation.

Published 22 Jul 2016

Reference 6211

Topic Leadership & Organisations

Industry Railroad Manufacture

Region Asia

The Indian Railways 'Cash Cow' - Over or Extra Loading? (A): Confidential Instructions for Sudhir Kumar

By Horacio Falcao, Claudia Zeisberger, Claudia Gehlen
Published 22 Jul 2016
Reference 6211
Topic Leadership & Organisations
Region Asia
Industry Railroad Manufacture

This two-party case is designed to teach negotiation within the context of turnaround management, stakeholder management, change management or public sector negotiation.

Private Equity Achieves Returns through Operating Improvements: CD&R's Acquisition and Turnaround of Hertz

By Claudia Zeisberger, Peter Goodson, Kimberly McGinnis, Dickson L. Louie, Nicholas Shannahan

Private equity firm Clayton, Dubilier & Rice (CD&R) is preparing a bid for leading US car rental agency Hertz. By replacing Hertz’s top managers, improving capital management and driving down operating costs, CD&R sees an opportunity to nearly double EBITDA. However, the turnaround involves significant risks, which CD&R must weigh in preparing its bidding strategy.

Published 23 Apr 2018

Reference 6355

Topic Economics & Finance

Industry Private Equity

Region North America

Private Equity Achieves Returns through Operating Improvements: CD&R's Acquisition and Turnaround of Hertz

By Claudia Zeisberger, Peter Goodson, Kimberly McGinnis, Dickson L. Louie, Nicholas Shannahan
Published 23 Apr 2018
Reference 6355
Topic Economics & Finance
Region North America
Industry Private Equity

Private equity firm Clayton, Dubilier & Rice (CD&R) is preparing a bid for leading US car rental agency Hertz. By replacing Hertz’s top managers, improving capital management and driving down operating costs, CD&R sees an opportunity to nearly double EBITDA. However, the turnaround involves significant risks, which CD&R must weigh in preparing its bidding strategy.

ACTIS' Pan-Regional Payment Platform: Private Equity Buy-and-build Strategy in the Middle East and Africa

By Claudia Zeisberger, Jean Wee

In 2010, ACTIS embarked on an ambitious project to build a pan-Middle East and Africa (MEA) payments platform. It had purchased Mediterranean Smart Cards Company (MSCC), a bankcard issuer with operations across Africa, and had identified a follow-on target, Visa Jordan Card Services (VJCS) as part of its buy-and-build strategy, and another potential acquisition in South Africa.

Published 29 Jan 2018

Reference 6363

Industry Private Equity

Region Middle-East

ACTIS' Pan-Regional Payment Platform: Private Equity Buy-and-build Strategy in the Middle East and Africa

By Claudia Zeisberger, Jean Wee
Published 29 Jan 2018
Reference 6363
Topic Strategy
Region Middle-East
Industry Private Equity

In 2010, ACTIS embarked on an ambitious project to build a pan-Middle East and Africa (MEA) payments platform. It had purchased Mediterranean Smart Cards Company (MSCC), a bankcard issuer with operations across Africa, and had identified a follow-on target, Visa Jordan Card Services (VJCS) as part of its buy-and-build strategy, and another potential acquisition in South Africa.

Differentiation Beyond Price: CD&R’s Strategy in Acquiring Hussmann

By Peter Goodson, Kimberly McGinnis, Claudia Zeisberger

In 2011, Ingersoll-Rand (IR) decided to divest its refrigeration equipment subsidiary, Hussmann International. However, the routine auction process for the non-core asset went awry when both Hussmann’s performance and external finance markets weakened significantly during the due diligence period.

Published 30 Jan 2017

Reference 6251

Topic Economics & Finance

Industry Private Equity, Security and Investigations

Region North America

Differentiation Beyond Price: CD&R’s Strategy in Acquiring Hussmann

By Peter Goodson, Kimberly McGinnis, Claudia Zeisberger
Published 30 Jan 2017
Reference 6251
Topic Economics & Finance
Region North America
Industry Private Equity, Security and Investigations

In 2011, Ingersoll-Rand (IR) decided to divest its refrigeration equipment subsidiary, Hussmann International. However, the routine auction process for the non-core asset went awry when both Hussmann’s performance and external finance markets weakened significantly during the due diligence period.

Pro-invest: How to Launch a Private Equity Real Estate Fund

By Claudia Zeisberger, Bowen White, Anne-Marie Carrick

The case describes how the Pro-invest Group – a boutique investment firm specialising in private equity real estate and real estate asset management – built its business and raised a first-time private equity fund.

Published 26 Aug 2016

Reference 6221

Topic Entrepreneurship

Industry Private Equity

Region Asia

Pro-invest: How to Launch a Private Equity Real Estate Fund

By Claudia Zeisberger, Bowen White, Anne-Marie Carrick
Published 26 Aug 2016
Reference 6221
Topic Entrepreneurship
Region Asia
Industry Private Equity

The case describes how the Pro-invest Group – a boutique investment firm specialising in private equity real estate and real estate asset management – built its business and raised a first-time private equity fund.

The Indian Railways 'Cash Cow' - Over or Extra Loading? (A): Confidential Instructions for Sudhir Kumar

By Horacio Falcao, Claudia Zeisberger, Claudia Gehlen

This two-party case is designed to teach negotiation within the context of turnaround management, stakeholder management, change management or public sector negotiation.

Published 22 Jul 2016

Reference 6211

Topic Leadership & Organisations

Industry Railroad Manufacture

Region Asia

The Indian Railways 'Cash Cow' - Over or Extra Loading? (A): Confidential Instructions for Sudhir Kumar

By Horacio Falcao, Claudia Zeisberger, Claudia Gehlen
Published 22 Jul 2016
Reference 6211
Topic Leadership & Organisations
Region Asia
Industry Railroad Manufacture

This two-party case is designed to teach negotiation within the context of turnaround management, stakeholder management, change management or public sector negotiation.

PE in Emerging Markets: Can Mekong Capital's Operating Advantage Boost the Value in its Exit from Golden Gate Restaurants?

By Claudia Zeisberger, Peter Goodson, Kimberly McGinnis

Mekong Capital, a private equity firm based in Vietnam, is considering exiting its stake in restaurant chain operator Golden Gate. Despite robust growth, Golden Gate’s profitability is lagging. Students are asked to evaluate the best means of exit and whether operational improvements are required to attract buyers or create the foundation for a successful IPO.

Published 06 Apr 2016

Reference 6162

Industry Restaurants, Private Equity

Region Asia

PE in Emerging Markets: Can Mekong Capital's Operating Advantage Boost the Value in its Exit from Golden Gate Restaurants?

By Claudia Zeisberger, Peter Goodson, Kimberly McGinnis
Published 06 Apr 2016
Reference 6162
Topic Strategy
Region Asia
Industry Restaurants, Private Equity

Mekong Capital, a private equity firm based in Vietnam, is considering exiting its stake in restaurant chain operator Golden Gate. Despite robust growth, Golden Gate’s profitability is lagging. Students are asked to evaluate the best means of exit and whether operational improvements are required to attract buyers or create the foundation for a successful IPO.

Crisis at the Mill: Weaving an Indian Turnaround - Alvarez & Marsal

By Claudia Zeisberger, Anne-Marie Carrick

Emerging markets are challenging and require special expertise. India in particular is known to be a tricky business environment. The case follows two senior executives from Alvarez & Marsal’s India practice as they deal with an urgent request from one of their US private equity clients, Sapphire Capital.

Published 24 Apr 2015

Reference 6069

Topic Entrepreneurship

Industry Textiles

Region Asia

Crisis at the Mill: Weaving an Indian Turnaround - Alvarez & Marsal

By Claudia Zeisberger, Anne-Marie Carrick
Published 24 Apr 2015
Reference 6069
Topic Entrepreneurship
Region Asia
Industry Textiles

Emerging markets are challenging and require special expertise. India in particular is known to be a tricky business environment. The case follows two senior executives from Alvarez & Marsal’s India practice as they deal with an urgent request from one of their US private equity clients, Sapphire Capital.

Going Direct: The Case of Teachers' Private Capital

By Michael Prahl, Claudia Zeisberger, Deepa Ramanathan

The case traces the evolution of the private equity investment platform of the Ontario Teachers’ Pension Plan (Teachers’). Unlike the typical traditional pension fund, Teachers’ has forged a bold, pioneering approach to investing by making a concerted push towards direct investing. The case discusses the trade-offs involved in developing a direct investing platform.

Published 24 Jun 2013

Reference 5993

Topic Entrepreneurship

Region Other Regions

Going Direct: The Case of Teachers' Private Capital

By Michael Prahl, Claudia Zeisberger, Deepa Ramanathan
Published 24 Jun 2013
Reference 5993
Topic Entrepreneurship
Region Other Regions

The case traces the evolution of the private equity investment platform of the Ontario Teachers’ Pension Plan (Teachers’). Unlike the typical traditional pension fund, Teachers’ has forged a bold, pioneering approach to investing by making a concerted push towards direct investing. The case discusses the trade-offs involved in developing a direct investing platform.

Slalom to the Finish: Carlyle's Exit from Moncler

By Claudia Zeisberger, Michael Prahl, Rishika Agrawal

In 2011, Carlyle is considering an exit from its investment in the European fashion brand Moncler, in which it holds a minority stake. The case focuses on the complexities of preparing and executing an exit under rapidly changing market conditions taking varied interests and potential outcomes into consideration.

Published 24 Jun 2013

Reference 5969

Topic Entrepreneurship

Industry Capital Markets

Region Europe

Slalom to the Finish: Carlyle's Exit from Moncler

By Claudia Zeisberger, Michael Prahl, Rishika Agrawal
Published 24 Jun 2013
Reference 5969
Topic Entrepreneurship
Region Europe
Industry Capital Markets

In 2011, Carlyle is considering an exit from its investment in the European fashion brand Moncler, in which it holds a minority stake. The case focuses on the complexities of preparing and executing an exit under rapidly changing market conditions taking varied interests and potential outcomes into consideration.

Chips on the Side (A): The Buy-Out of Avago Technologies

By Claudia Zeisberger, Vikas A. Aggarwal, Michael Prahl, Swati Sawjiany

A consortium of private equity firms (KKR and Silver Lake Partners) is in the process of acquiring the semi-conductor division of Agilent. To prepare for the signing of the acquisition agreement and the subsequent transfer of ownership, the deal team is revisiting their investment thesis with respect to upsides and risks.

Published 31 Jan 2012

Reference 5832

Topic Entrepreneurship

Industry Private Equity

Region North America

Chips on the Side (A): The Buy-Out of Avago Technologies

By Claudia Zeisberger, Vikas A. Aggarwal, Michael Prahl, Swati Sawjiany
Published 31 Jan 2012
Reference 5832
Topic Entrepreneurship
Region North America
Industry Private Equity

A consortium of private equity firms (KKR and Silver Lake Partners) is in the process of acquiring the semi-conductor division of Agilent. To prepare for the signing of the acquisition agreement and the subsequent transfer of ownership, the deal team is revisiting their investment thesis with respect to upsides and risks.

Private Equity & Venture Capital; especially minority stakes in emerging markets & the impact of private equity on the economy at large