The Center aims to be a global leader in the Alternative Investment industry through collaboration among industry practitioners, faculty and students. While the Center primarily engages with institutional investors, it works closely with General Partners as well to provide a balanced understanding of the alternative investment industry.
Klaas Baks, Ph.D., is the Executive Director of the Emory Center for Alternative Investments and an Assistant Professor of Finance at Emory University’s Goizueta Business School. His research and teaching focuses on issues in venture capital, private equity, entrepreneurial finance and investment management, and he has published papers in a number of academic and business journals. Prior to joining Emory University, Mr. Baks held positions at Fuji Bank in Tokyo, Japan and Deutsche Bank in Hong Kong.
A doctoral graduate of the Wharton School at the University of Pennsylvania in finance, Mr. Baks also holds a M.A. degree in economics from Brown University, a master’s degree in econometrics from Groningen University, The Netherlands and a diploma in Japanese language and business studies from Leiden University, The Netherlands. Mr. Baks serves on the board of Triton Value Partners, an Atlanta-based private equity firm as well as on the board of a number of start-ups.
Director Real Estate Program
Roy T. Black, who has taught part-time at Goizueta since 1999, joined the Goizueta faculty full-time in Summer 2007 to spearhead the Real Estate program. During his tenure at Goizueta, Black has seen his typical class size of 30 students and his load of one or two courses a year swell to the establishment of a program. He has a J.D. from Woodrow Wilson College of Law, an M.S. in Real Estate from Georgia State University, and a Ph.D. in Business Administration from the University of Georgia. Prior to entering academia, he spent 15 years as a real estate attorney.
Mark R. Bell, D.Phil., M.St., acts as the chief investment officer of Brand Group Holdings, a closed investment office. Prior to BGH, he was the director of strategy and a private equity investor at D. E. Shaw & Co., which by the time of his departure had become the world’s largest hedge fund. Dr. Bell was directly involved the fund’s rapid expansion into the illiquid realms of investing—he played an integral role in establishing a “side pocket” in the fund which became an engine for investing in alternative energy assets, international real estate, and traditional private equity and venture capital deals. He also helped to launch the firms efforts in reinsurance. Dr. Bell also worked at McKinsey & Co. where he was involved in the then rapidly deregulating energy industry. Dr. Bell was the valedictorian of his Stanford Class and received a Marshall Scholarship to study at Oxford University where he received his doctorate and masters degree and served as a college lecturer at Balliol and Christ Church Colleges for three years He is also the recipient of a Fulbright Scholarship. He is the author of one scholarly monograph, six peer-reviewed articles, and several book chapters.
Jeff Busse, Ph.D., joined Emory University’s Goizueta Business School in 1998. His interests include hedge funds and investments, with an emphasis on mutual funds. Busse received his Ph.D. from New York University, where he was an instructor from 1996-1998. Busse has worked for Ford Motor Company, American Express, and Honeywell.
Kevin Crowley has taught Investment Banking, Merger & Acquisitions, and International Finance classes at Emory. Prior to coming to Emory, he worked in the investment banking industry for approximately 14 years. He was employed at Deutsche Bank in the New York and Tokyo offices as a Managing Director in the Mergers & Acquisitions group, and also worked at J.P. Morgan Securities in New York as a Vice President in the corporate finance advisory group. During his banking career he gained extensive cross-border experience and completed a variety of advisory and financing transactions involving U.S., European, Latin American, and Japanese companies.
Crowley holds a Bachelor of Arts degree in Finance from Michigan State University and an MBA with honors from the University of Chicago.
Narasimhan Jegadeesh, Ph.D., is the Faculty Director of the Emory Center for Alternative Investments, and the Dean’s Distinguished Chair in Finance at Goizueta Business School. He has also been on the faculty at the University of Illinois at Urbana-Champaign and the University of California at Los Angeles. He has published extensively in the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies and other leading academic finance journals. His research has been discussed in several publications including BusinessWeek, The Economist, Forbes, Kiplinger’s Personal Investments, Money, The New York Times, and Smart Money. His interests include the risk-adjusted returns of private equity.
Kathryn Furman is a partner in King & Spalding’s Corporate Practice. Her primary practice areas include fund formation and mergers and acquisitions. Ms. Furman advises fund sponsors in the structuring and formation of investment funds and fund investors in reviewing and negotiating the terms of their investments. She routinely counsels such clients on exemptions and other compliance matters under the Investment Company Act of 1940 and the Investment Advisers Act of 1940. She also has extensive experience in a variety of M&A transactions, including public and private company mergers, leveraged buyouts, going private transactions, joint ventures and strategic investments. Her experience includes the representation of clients in a number of industries, including the real estate, technology, and healthcare industries.
Ms. Furman speaks frequently on mergers and acquisitions and fund formation related topics. She was recently named as one of the top fourteen young Atlanta lawyers “On the Rise” in 2006 by The Fulton County Daily Report. Ms. Furman also serves as the Co-Chairman of the firm’s Pro Bono Committee, responsible for transactional matters.
Ms. Furman graduated, magna cum laude, from Davidson College in 1991 with a B.A. in economics and a concentration in international studies. She spent her junior year in college at the Bayerische Julius-Maximilians Universitaet Wuerzburg studying German history and European politics. Ms. Furman is fluent in German. She received her J.D., cum laude, from the Harvard Law School in 1994. Ms. Furman is a member of the State Bar of Georgia.
Roman Kraeussl is Associate Professor of Finance at VU University Amsterdam. He studied Economics at the University of Bielefeld and got his PhD in Financial Economics at the Center for Financial Studies (CFS) at Goethe-University Frankfurt/Main. As the Head of Quantitative Research at Cognitrend GmbH, a spin-off from Deutsche Bank specialized in behavioural finance and the development of mathematical trading models, he was closely involved with the financial industry.
Apart from his position at VU University, Dr. Kraeussl currently also holds a position as research fellow at CFS and the Emory Center for Alternative Investments (CAI) within Goizueta Business School, Emory University. He has published, among others, in the Journal of Empirical Finance, Journal of International Money and Finance, Journal of Financial Stability, and co-authored the 2007 book on “Venture Capital in Europe”. He has taught numerous (executive) MBA courses at the Amsterdam School of Finance, Corvinus University of Budapest, Goizueta Business School, Nyenrode Business University, and VU University Amsterdam. His current research interests include Alternative Investments, Private Equity and Venture Capital financing, and Art & Finance.
He established the Web site www.art-finance.com, where he publishes some of his recent work on art as an alternative asset class, mostly on building liquid art investment indices in order to evaluate optimal portfolio allocation decisions into art.
J.B. joined Goizueta Business School in the fall of 2006 as an Associate Professor in the Practice of Finance. In April 2008, he was named Associate Dean of the Full-Time MBA Program. Previously he served as a Clinical Professor of Finance at the University of Illinois at Chicago and as a Visiting Clinical Professor of Finance at the University of Illinois at Urbana-Champaign. Over the past several years J.B.’s primary teaching focus has been on applied finance courses such as investment banking and new venture financing. At Goizueta, he has taught the introductory finance course as well as investment banking and mergers and acquisitions.
Tina Stark, Ph.D., is a Professor in the Practice of Law and the Executive Director of Emory’s Center for Transactional Law and Practice. The Center was established in 2007 to focus on the business and legal aspects of transactional law and skills. Stark and the Center for Transactional Law and Practice aided the Center for Private Equity in setting up a cross-listed class that studies private equity contracts.
Nicholas Valerio III
Nicholas Valerio III, Ph.D., designed and teaches the advanced finance elective course on derivative assets. Prior to entering academia Valerio worked in the Capital Markets group of Citibank in the sales and trading area of the Money Market Division. He combines academic theory and his professional experience for a pragmatic view of the financial markets in his research and teaching. Valerio has also been a Visiting Professor at The Wharton School of the University of Pennsylvania where he taught the derivative assets course.