External Publications

Joint Ventures that Keep Evolving Perform Better

Successful companies actively manage their businesses through periods of economic growth, downturn, and recovery.

Our analysis of 60 leading firms across the automotive, aerospace and defense, chemicals, energy, industrial, and mining sectors shows companies that are more active in managing their portfolios of material JVs and non-equity partnerships are more likely to meet or exceed industry-average return on capital. Rather than revealing corporate weaknesses and strategic missteps, firms that actively shape and reshape their JVs are tapping into sources of competitive advantage. This research also extends our prior findings that joint ventures undergoing at least one major restructuring are twice as likely to achieve their strategic and financial objectives, generating 10 to 30% performance improvements on average. 

Read the full article originally published in the Harvard Business Review.

About the Authors

Shishir Bhargava

Shishir Bhargava is a Managing Director at Ankura based in Washington, DC. He advises clients on transactions and their post-deal governance in the energy, natural resources, and technology sectors. His transaction experience includes developing deal strategies, screening investments, structuring and restructuring joint ventures, and minority equity investments. He also helps companies build transaction capabilities and negotiate better outcomes. Prior to Ankura, Shishir worked at IBM where he led JV and partnership deals and at Hero MotoCorp of India, the world’s largest motorcycle manufacturer, which was established as a joint venture with Honda Motorcycles of Japan.

James Bamford

James Bamford is a Senior Advisor at Ankura based in Washington, DC. He joined Ankura with the firm’s 2020 acquisition of Water Street Partners, which he co-founded in 2008. Water Street Partners has been independently ranked as the number one global advisor on joint ventures since 2017. Prior to Water Street, he was global co-lead of the Joint Venture & Alliance Practice at McKinsey & Company.


Leave a comment

Your email address will not be published. Required fields are marked *

Subscribe to the

Joint Venture Alchemist Newsletter

Sign up below to receive the latest joint venture updates from Ankura.

"*" indicates required fields