Author Topic: BAIN CAPITAL - Why Should You Care  (Read 4495 times)

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Offline Ursus

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BAIN CAPITAL - Why Should You Care
« on: September 08, 2007, 10:46:35 AM »
Copied from the 'Big Fish CRC Trawls The Waters' thread:
http://wwf.fornits.com/viewtopic.php?t=23141&start=13

Quote from: ""Ursus""
Mitt Romney is a co-founder of Bain Capital, LLC.
Bain Capital owns CRC Health Group (purchased Oct 2005, finalized earlier 2006).
CRC purchased Aspen Educational Group September/October 2006.
    ...hence the line from Romney to Aspen Ed.[/list]
    Romney had Litchfield as a major fundraiser.
      ...hence the line from Romney to WWASPS.[/list]
      Romney still has Mel Sembler as a major fundraiser.
        ...hence the line from Romney to Straight, Inc.[/list]

        More on Bain Capital:

        The actual numbers vary according to the source, and probably to some degree as per market specs when calculated.  Suffice it to say that it has double digit billions in assets.

        Bain Capital, LLC Overview
        111 Huntington Ave
        Boston, MA 02199
        1 617 516 2000
        Article Search
        http://www.baincapital.com

        About Bain Capital, LLC

        Bain's capital flows through every sector. Founded in 1984 and headquartered in Boston, MA, Bain Capital, LLC is a private equity and venture capital firm. The company has about $27 billion in assets, invested in interests in communications, computer technology, consumer products, pharmaceuticals, and retail. It has invested in over 200 companies since its founding. The company has revenues of about $3.3 billion and employs about 180 workers. In 2005, it was part of groups that acquired Warner Chilcott PLC, Toys 'R' Us, and Sungard Data Systems.

        Bain Capital, LLC Executives

          Jay Corrigan
          CFO, Private Equity

          Mike Goss
          Managing Director & CFO

          Andrew Carlino
          Vice President

          Blair Hendrix
          Executive Vice President

          James Boudreau

          Senior Vice President, Tax Planning & Compliance[/list]
          « Last Edit: December 31, 1969, 07:00:00 PM by Guest »
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          Offline Ursus

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          BAIN CAPITAL - Why Should You Care
          « Reply #1 on: September 08, 2007, 11:48:14 AM »
          This news piece is somewhat old, but it illustrates all too well how Romney utilizes Bain Capital to cover his personal political interests. Perhaps Bain Capital's political interests are served rather well by Romney...

          ========================================

          Romney turns to Bain Capital's White as transition chief
          Boston Business Journal - November 12, 2002

          Bain Capital LLC founder and Massachusetts governor-elect Mitt Romney named Robert White, who is on leave as a managing director with Bain Capital, to lead Romney's gubernatorial transition team.

          White, 46, joined Bain & Co. in 1982, and then joined Bain Capital in 1984 after Romney founded the leveraged-buyout firm.

          White also worked on Romney's unsuccessful run to unseat U.S. Sen. Edward Kennedy in 1994, and helped Romney with the Winter Olympics, according to a report by the Associated Press.

          White told the AP that other members of Romney's transition team will be announced later this week, along with members of a larger transition steering committee.


          ##
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          Offline Ursus

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          BAIN CAPITAL - Why Should You Care
          « Reply #2 on: September 08, 2007, 11:58:17 AM »
          Another old piece, but illustrates just how much influence Romney wielded over at Bain Capital prior to diversifying his focus more on politics.  "100% control," eh?  Note: politics has always been in the picture, so has business.  The percentage of focus to each has toggled between the two over the years.

          ========================

          Bain Capital's Romney aiming for politics after Olympics
          Boston Business Journal - August 23, 2001

          W. Mitt Romney is quitting Boston-based Bain Capital, the $13 billion investment firm he started with $35 million in 1984. The son of a former governor and himself a presidential candidate is going into politics in either Massachusetts or Utah after he completes work helping organize next year's Salt Lake City Winter Olympics.

          Romney, 54, is giving up his 100 percent control of Bain Capital to 26 managing directors. The firm has made 170 venture and buyout investments in companies like pizza delivery chain Domino's Pizza Inc., brokerage Datek Online Holdings Corp. and retailers Staples Inc. and the Sports Authority Inc.

          Before taking the Olympics job, Romney previously interrupted his business career in 1994 for a failed bid as Republican challenger to Massachusetts Sen. Edward Kennedy.


          ##
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          Offline Anne Bonney

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          BAIN CAPITAL - Why Should You Care
          « Reply #3 on: September 08, 2007, 12:02:40 PM »
          Thanks Ursus, nice work.  


          Wow.  How deep does the rabbit hole go?


          Nixon/Reagan/Bush I/Bush II,/Jebby/Smelly Sembler/Romney/Lichfield

           :flame:  :flame:  :flame:
          « Last Edit: December 31, 1969, 07:00:00 PM by Guest »
          traight, St. Pete, early 80s
          AA is a cult http://www.orange-papers.org/orange-cult.html

          The more boring a child is, the more the parents, when showing off the child, receive adulation for being good parents-- because they have a tame child-creature in their house.  ~~  Frank Zappa

          Offline Deborah

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          BAIN CAPITAL - Why Should You Care
          « Reply #4 on: September 08, 2007, 12:12:34 PM »
          Nixon/Reagan/Bush I/Bush II,/Jebby/Smelly Sembler/Romney/Lichfield/Sainer (Aspen Ed Group)
          « Last Edit: December 31, 1969, 07:00:00 PM by Guest »
          gt;>>>>>>>>>>>>>><<<<<<<<<<<<<<
          Hidden Lake Academy, after operating 12 years unlicensed will now be monitored by the state. Access information on the Federal Class Action lawsuit against HLA here: http://www.fornits.com/wwf/viewtopic.php?t=17700

          Offline Anne Bonney

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          BAIN CAPITAL - Why Should You Care
          « Reply #5 on: September 08, 2007, 12:25:54 PM »
          Woops, thanks.

           8-)
          « Last Edit: December 31, 1969, 07:00:00 PM by Guest »
          traight, St. Pete, early 80s
          AA is a cult http://www.orange-papers.org/orange-cult.html

          The more boring a child is, the more the parents, when showing off the child, receive adulation for being good parents-- because they have a tame child-creature in their house.  ~~  Frank Zappa

          Offline Ursus

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          BAIN CAPITAL - Why Should You Care
          « Reply #6 on: September 08, 2007, 01:03:02 PM »
          Oh, it's way more than that.  Even small time conservative crackpots like Joe Gauld (Hyde School) are very much linked into the (usually Republican) political process.

          Don't forget the media connections.  I remember when one of the senior admin/faculty at Hyde married the widowed daughter of Maine's so-called publishing empire (newspapers, TV).  The Gannett family owns practically everything with the exception of the Indy's.  

          This man, one of Joe Gauld's best friends and who had worked alongside of him since the 1950s, was then a bachelor in his late 60s and as gay as they come.  Go figure.  The situation was apparently a bit stifling for the old gentleman, as sex abuse cases where he targeted former male students are now coming to light.  And yes, the school is totally aware of this given that Sumner Hawley's shenanigans were the subject of many a hush-hush discussion in senior-faculty-only meetings.  Guess it shouldn't come to anyone's surprise -- that isn't a Hyde somnambulist -- that they now have the "Sumner Hawley Society," privileged membership restricted to those dipshits narcissistic enough to designate Hyde as a recipient in their wills.  Right!
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          Offline Anne Bonney

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          BAIN CAPITAL - Why Should You Care
          « Reply #7 on: September 08, 2007, 01:12:51 PM »
          I know.  Christ, it's just so insidious and incestuous.  

          http://wwf.fornits.com/viewtopic.php?t=22939&start=110

          http://wwf.fornits.com/viewtopic.php?t=23155

          Then there's cautious optimism here.  Cautious.

          http://wwf.fornits.com/viewtopic.php?t=23142
          « Last Edit: December 31, 1969, 07:00:00 PM by Guest »
          traight, St. Pete, early 80s
          AA is a cult http://www.orange-papers.org/orange-cult.html

          The more boring a child is, the more the parents, when showing off the child, receive adulation for being good parents-- because they have a tame child-creature in their house.  ~~  Frank Zappa

          Offline Antigen

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          « Last Edit: December 31, 1969, 07:00:00 PM by Guest »
          "Don\'t let the past remind us of what we are not now."
          ~ Crosby Stills Nash & Young, Sweet Judy Blue Eyes

          Offline Deborah

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          BAIN CAPITAL - Why Should You Care
          « Reply #9 on: September 08, 2007, 08:35:58 PM »
          Aaron Russo 1943 - 2007
          RIP   :cry:
          http://fornits.com/wwf/viewtopic.php?p=279323#279323
          « Last Edit: December 31, 1969, 07:00:00 PM by Guest »
          gt;>>>>>>>>>>>>>><<<<<<<<<<<<<<
          Hidden Lake Academy, after operating 12 years unlicensed will now be monitored by the state. Access information on the Federal Class Action lawsuit against HLA here: http://www.fornits.com/wwf/viewtopic.php?t=17700

          Offline Ursus

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          BAIN CAPITAL - Why Should You Care
          « Reply #10 on: September 09, 2007, 01:10:06 PM »
          Quote from: ""Deborah""
          Aaron Russo 1943 - 2007
          RIP   :cry:
          http://fornits.com/wwf/viewtopic.php?p=279323#279323


          So sad, yes... He was a decent guy who tried to make a positive difference in this world.
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          Offline Ursus

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          BAIN CAPITAL - Why Should You Care
          « Reply #11 on: September 10, 2007, 04:24:53 AM »
          Back to Bain...

          So Bain Capital LLC finalized purchase of CRC Health Group for $720 Million from North Castle Partners and DLJ Merchant Banking Partners in February of 2006.  North Castle and DLJ Merchant Banking initially invested in CRC in August 2002.

          Who are North Castle and DLJ Merchant Banking?  Well, the latter entity was bought up by the 2nd largest Swiss Bank back in 2000.  Other than that, I can not find too much on them that doesn't peter off into trails of acquisitions and mergers.  For all functional purposes, they are now known as "a private equity fund Credit Suisse First Boston."

          North Castle Partners, however, turns up some interesting heritage.  From their website:

          ================================

          Managing Directors

          Charles F. Baird, Jr., North Castle's founder, has spent the last 25 years as an investor and consultant partnering with Chief Executive Officers to improve their companies' operating performance and shareholder returns. Mr. Baird began studying the emerging Healthy Living & Aging trends more than 10 years ago with strategic partners at Bain & Company, Adams, Harkness & Hill and Age Wave.

          Mr. Baird founded North Castle Partners in 1997 specifically to pursue opportunities in this dynamic new marketplace. He serves as chairman of the board of directors for four North Castle portfolio companies: gloProfessional, Leiner, Enzymatic Therapy and Octane Fitness. Mr. Baird also serves on the board of Performance Inc. and Red Door Spas and has served on the boards of directors of CRC Health, Equinox, GEI and Naked Juice. Mr. Baird is a trustee of The Alger Fund and the Prostate Cancer Foundation.

          Prior to founding North Castle, Mr. Baird served as a Managing Director of AEA Investors LLC, where he was involved in initiating, negotiating, financing, monitoring and exiting principal investments. From 1978 to 1989, Mr. Baird worked at Bain & Company, where, as an Executive Vice President and North American Management Committee member, he was involved in developing strategy and implementing profit improvement initiatives for companies in the health care, forest products, packaging, publishing, chemicals, food, plastics and textile industries.

          From 1975 to 1977, Mr. Baird worked in mergers and acquisitions at The First Boston Corporation. He received an A.B. from Harvard College and an M.B.A. from Harvard Business School.

          See also here for a couple of posts about North Castle Partners and Mr. Baird:
          http://wwf.fornits.com/viewtopic.php?p=283923#283923

          ================================

          I'm not going to bore you with details of all the other personnel; suffice it to say that the names Bain, Credit Suisse First Boston, and DLJ Merchant Banking pop up a few more times.  People do switch companies in a given field from time to time, I'm not inclined to read more into it than that; however, I do find it significant that the founder of NCP has Bain connections.
          « Last Edit: January 07, 2008, 03:34:53 PM by Guest »
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          Offline Ursus

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          BAIN CAPITAL - Why Should You Care
          « Reply #12 on: September 17, 2007, 03:34:23 AM »
          ...*cough cough*...  Just how many assertions of "big surprise," "no knowledge," and "no control" are believable, eh?

          ==========================

          Romney wealth as high as $250 million
          Blind trust claims banks, export credit corporations and real estate
          Associated Press
          Updated: 3:51 p.m. ET Aug 13, 2007

          WASHINGTON - Republican presidential candidate Mitt Romney, the wealthiest White House contender from either party, is worth as much as $250 million, according to information released by his campaign Monday.

          The former venture capitalist's wealth - reported in a range of $190 million to $250 million - is spread throughout a dizzying array of investments, that include banks, large investment management firms, foreign export credit corporations and real estate.

          Romney reported the details of his wealth in a personal financial disclosure report filed Monday with the Federal Election Commission and the U.S. Office of Government Ethics. Presidential candidates had been required to file such disclosures by May 15, but Romney asked for two 45-day extensions to obtain detailed values of his and his wife's blind trusts.

          Blind trust

          The report offers the most detailed public look yet at the finances of the former Massachusetts governor, who has refused to release his income tax returns, and who previously filed only state financial disclosure forms that described his holdings in the most general terms. His most recent Massachusetts report, filed in May for calendar 2006, was only 10 pages long, compared with the 47-page federal report.

          The federal report was something of a revelation for Romney as well.

          His assets have been held in a blind trust since January 2003, but the Office of Government Ethics requires a detailed list of individual holdings. Forced to open his blind trust, the Romneys - and the world - discovered precisely which stocks, bonds and mutual funds they own.

          In the report, Romney underscores his lack of control over the holdings, writing, "In each case, R. Bradford Malt, as trustee, has complete investment discretion over the assets held by these investment vehicles."

          The report said: "Since Jan. 1, 2003, neither Mr. Romney nor Mrs. Romney has had any control over the assets acquired or disposed of by the vehicles, neither Mr. Romney nor Mrs. Romney has received any reports identifying specific assets held, and the management of the assets has been deemed blind by the Massachusetts State Ethics Commission."

          Iranian holding?

          The report highlights a continuing connection between Romney and Bain Capital, the venture capital firm he founded and which he left in 1999 to assume leadership of the Salt Lake City Winter Olympics.

          Earlier this year, Romney played down any lingering connection after The Associated Press reported Bain Capital and Bain & Co., the management consulting firm where Romney used to work, had links to Iranian business interests or deals despite Romney's campaign-trail call for state pension funds to divest from Iran. At the time, a spokesman highlighted Romney's 1999 resignation from Bain, while Romney himself said his divestment call applied only to future activity, not past dealings.

          A notation in Romney's filing, however, says that his Bain investments have been in his and his wife's blind trusts and that "neither Mr. Romney nor Mrs. Romney has had any control over the assets acquired or disposed of" since January 2003.

          A note in the report also states that Romney asked for Bain's underlying holdings, but, like other funds in his blind trust, the fund managers said the information was confidential and declined to provide it.


          Copyright 2007 The Associated Press. All rights reserved.
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          Offline Anonymous

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          Re: BAIN CAPITAL - Why Should You Care
          « Reply #13 on: December 07, 2009, 07:14:17 PM »
          Who the fuck is R. Bradford Malt?
          « Last Edit: December 31, 1969, 07:00:00 PM by Guest »

          Offline Ursus

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          R. Bradford Malt
          « Reply #14 on: December 07, 2009, 09:27:42 PM »
          Quote from: "Guest"
          Who the fuck is R. Bradford Malt?
          He would appear to be the trustee who controls the Romney assets which are held in a blind trust:

            His assets have been held in a blind trust since January 2003, but the Office of Government Ethics requires a detailed list of individual holdings. Forced to open his blind trust, the Romneys - and the world - discovered precisely which stocks, bonds and mutual funds they own.

            In the report, Romney underscores his lack of control over the holdings, writing, "In each case, R. Bradford Malt, as trustee, has complete investment discretion over the assets held by these investment vehicles."
            [/list]

            He's also a Partner at Ropes & Gray (conservative law firm in Boston):

            -------------- • -------------- • -------------- • --------------

            R. Bradford Malt
            Partner



            Ropes & Gray
            One International Place
            Boston, MA 02110-2624


            T + 1-617-951-7318
            F + 1-617-235-0069
            + 1-617-854-2080 secretary

            PRACTICES
            Corporate
            • Private Equity
            • Private Investment Funds

            Practice

            Brad Malt has been a partner in the Corporate Department since 1987, and is Chairman of the firm's management committee. Brad was a founder of the private equity practice at Ropes & Gray, and as a result of Brad's extensive private equity experience, he has a broad knowledge of industry best practices and "market" terms and conditions. He counsels clients on acquisitions and dispositions, alternative investment activities, financings and portfolio company issues. He has particular knowledge in advising fund sponsors in connection with fundraising, strategic initiatives, relationships among partners, organizational structure, effective policies and procedures, and operational matters.

            Professional Experience

            Concentrating in corporate finance and mergers and acquisitions, Brad represents a wide variety of private and public equity clients in their fundraising and investment activities. These clients include leveraged buyout funds, hedge funds, CBO funds, fund-of-funds, mezzanine funds, pension funds, and other alternative investment funds and investors.

            Honors & Awards

            • The Best Lawyers in America (1997-2010)
            • Chambers Global: The World's Leading Lawyers for Business (2006-2009)
            • Chambers USA: America's Leading Lawyers for Business (2004-2009)
            • Massachusetts Super Lawyers (2004-2009)
            • Lawdragon 3000: Leading Lawyers in American (2006)
            • PLC Cross-border Mergers and Acquisitions Handbook, Leading Attorney (2006)
            • Top 45 lawyers in the country under the age of 45 by The American Lawyer (1995)
            • Who's Who in America
            • Who's Who in the World
            • Who's Who in American Law
            • Who's Who in Finance and Industry
            • The American Lawyer "heavy hitters"

            Professional & Civic Activities

            • Lecturer and former co-chairman of the ALI-ABA Advanced Course of Study on Corporate Mergers and Acquisitions
            • Session co-chair and Panelist, International Bar Association Private Equity Transactions Symposium
            • Member of the Massachusetts General Hospital Corporation
            • Member, Massachusetts Business Roundtable

            Bar Admissions

            • Massachusetts, 1979

            Education

            • 1979, J.D., cum laude, Harvard Law School
            • 1976, A.B. (Applied Mathematics), magna cum laude, Harvard College


            ©2009 Ropes & Gray LLP. All rights reserved.
            « Last Edit: December 31, 1969, 07:00:00 PM by Guest »
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