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In May of 2021, Kevin D. Johnson had just graduated from a rigorous Executive MBA program, and he quickly needed to decide on his next career move. Johnson was the founder and CEO of a successful media company, Johnson Media Inc., but his career goals had shifted while at business school. He wanted to use his talents to help other BIPOC entrepreneurs access capital and provide opportunities to create intergenerational wealth. Johnson evaluated his four options: work full-time at an online platform dedicated to connecting Black founders with funding; join a BIPOC-focused venture capital ("VC") firm; pursue a job at an established VC firm; or continue scaling his media company. Which option would Johnson choose?

The Canada Pension Plan Investment Board (CPPIB) is one of the largest pools of investment capital in the world and follows a rigorous "Total Portfolio Framework" in its approach to investment management. In April of 2021, John Graham was just two months into his role as Chief Executive Officer, and he must decide how to lead the organization to outperform the increasingly competitive market. CPPIB had several structural and developed competitive advantages, but with assets under management projected to grow to C$1 trillion by 2030, Graham faced the challenge of scaling the organization's investment strategy for the future. As Graham settled into the chief executive's role, would he be able to lead CPPIB to meet its strategic goals?

David Swensen and the Investments Office staff must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments-hedge funds, private equity, venture capital, real estate, natural resources-given the impact of the COVID-19 public health crisis on the financial markets. The case explores the risks and benefits of a different asset allocation strategy and considers how to create financial models to prepare for unexpected events. It highlights the issues around allocations across different subclasses, e.g., between venture capital, hedge funds, and real assets.

This case follows Jason Wright and Umang Kajaria at Apax Partners as they consider an investment in Duck Creek Technologies, a technology provider for property & casualty insurance companies. The deal required a complex carve-out from Accenture, Duck Creek's parent organization, and several operational improvements to rejuvenate the company. The case provides the opportunity to evaluate the deal's investment thesis, structure, and risks, along with calculating Duck Creek's valuation.