42
posted ago by MikeBravo ago by MikeBravo +43 / -1

This from Podesta emails when the were digging dirt up on him.

Romney and Bain Capital

1978: Mitt Romney joins Bain & Co., a Boston-based management consulting group founded by William W. Bain Jr.

1984: Romney tapped by the company founder to lead a spin-off called Bain Capital, a venture capital and private equity group.

October 1997: Bain Capital launches the Sankaty group of U.S.-based debt hedge funds. To assist U.S. tax-exempt and foreign investors, Sankaty organizes a subsidiary in Bermuda called Sankaty High Yield Asset Investors Ltd.

February 1999: Romney takes a leave of absence from Bain Capital. Bain Capital at midyear has $5.5 billion in assets under management, including $2 billion in the Sankaty funds, according to an independent evaluation.

February 2001: Romney is listed in SEC documents as president and sole shareholder of the Sankaty company in Bermuda.

August 2001: Romney announces plans to retire from Bain Capital to run for governor of Massachusetts. Before he steps down, he invests in BCIP Associates III Cayman, a private equity fund organized in the Cayman Islands.

January 2003: He puts his financial holdings into a blind trust.

2003-2007: Romney's trustee continues to invest in the Cayman fund.

2006: The Cayman fund pays Romney more than $1 million in interest, dividends and capital gains. He retains a profit share in Bain Capital until 2009, as well as investments in more than 30 Bain funds.

2007: Bain Capital manages $60 billion in assets, including $23 billion in Sankaty funds.

Source: Los Angeles Times

Comments (1)
sorted by:
2
stormcloud 2 points ago +2 / -0

Can't be upvoted enough.