David Bard

David Bard
  • Senior Fellow & Lecturer of Finance
  • Partner, The Halifax Group

Contact Information

  • office Address:

    2300 Steinberg-Dietrich Hall
    3620 Locust Walk
    Philadelphia, PA 19104


  • Education
    • MBA, Wharton, 2011
    • MPhil in Economics, University of Cambridge, 2004
    • BSE in Economics, Wharton, 2002
    • BAS in Systems Engineering, Penn Engineering, 2002
  • Academic Positions Held
    • Wharton, 2015 – Present
  • Other Positions
    • The Halifax Group, 2018 – Present
    • American Securities, 2015 – 2018
    • Bain Capital, Private Equity, 2006 – 2015
    • McKinsey & Company, 2004 – 2006
    • Internships with the Council of Economic Advisors and the U.S. Treasury
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  • FNCE 884: Advanced Topics in Private Equity: Anatomy of a Deal
  • FNCE 888: Advanced Topics in Private Equity: Advanced Topics in Private Equity:  Funding, Sourcing, and Creating Value
  • PVEQ2362: Private Equity: Investing and Creating Value
  • FNCE 801: Advanced Topics in Private Equity

Past Courses


    (Formerly FNCE 884) The goal of this course is to educate students about the substance, process and mechanics of PE investing, through the lens of the investment professionals, counterparties and advisors that drive transactions to completion. It focuses on growth and later-stage buyout transactions (excluding venture capital) taking a primarily U.S.-centric view that should be largely applicable in other markets. The course concentrates on the transaction stage of PE investing, mostly leaving aside deal sourcing, portfolio management and investor relations. Course topics will include: commercial diligence (incl. financial modeling), debt financing, accounting diligence, sales & purchase agreements, comps analysis and other advisory work. Students will apply each element of the deal process to a real-time mock deal by preparing materials that mirror a real private equity transaction.


    This course is for second year MBA students. Please note: Students cannot receive credit for both FNCE 884 and FNCE 888. This course will address a variety of topics in private equity (PE) leveraging a highly practical and real-world approach. It will focus on growth and later-stage buyout transactions (venture capital is not explicitly addressed in this course), and a primarily U.S.-centric view that should be largely applicable in other markets. The course will focus on several key areas outside the private equity transaction: fundraising, sourcing investment opportunities, and creating value under PE ownership. The goal of this course is to educate students about these aspects of PE investing through the lens of the investment professionals, consultants, counterparties and advisors that live them each day. Students will be expected to actively engage in classroom discussions, challenging one another and the lecturers about how to think through these issues in an ever-evolving investment world. In addition, throughout the course, students will be expected participate actively with their teams as they proceed with at home assignments.

Awards and Honors

2017-2018: Wharton MBA Excellence in Teaching Award

2018: Wharton Teaching Excellence Award

2020: Wharton Teaching Excellence Award

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