red states rule
09-03-2012, 05:35 AM
Seems liberals and the Obama backers HATE Bain Capital - except when they can invest with Bain and make money
Democrats convened in Charlotte, NC, will double down on their claim that Bain Capital is really the Bain crime family. They will accuse Republican nominee Mitt Romney and Bain’s other “greedy” co-founders of stealing their winnings, evading taxes and lighting cigars with $100 bills on their yachts.
But Bain’s private-equity executives have enriched dozens of organizations and millions of individuals in the Democratic base — including some who scream most loudly for President Obama’s re-election.
Government-worker pension funds are the chief beneficiaries of Bain’s economic stewardship. New York-based Preqin uses public documents, news accounts and Freedom of Information requests to track private-equity holdings. Since 2000, Preqin reports, the following funds have entrusted some $1.56 billion to Bain:
* Illinois Municipal Retirement Fund ($2.2 million)
* Indiana Public Retirement System ($39.3 million)
* Iowa Public Employees’ Retirement System ($177.1 million)
* The Los Angeles Fire and Police Pension System ($19.5 million)
* Maryland State Retirement and Pension System ($117.5 million)
* Public Employees’ Retirement System of Nevada ($20.3 million)
* State Teachers Retirement System of Ohio ($767.3 million)
* Pennsylvania State Employees’ Retirement System ($231.5 million)
* Employees’ Retirement System of Rhode Island ($25 million)
* San Diego County Employees Retirement Association ($23.5 million)
* Teacher Retirement System of Texas ($122.5 million)
* Tennessee Consolidated Retirement System ($15 million)
These funds aggregate the savings of millions of unionized teachers, social workers, public-health personnel and first responders. Many would be startled to learn that their nest eggs are incubated by the company that Romney launched and the financiers he hired.
Leading universities have also profited from Bain’s expertise. According to Infrastructure Investor, Bain Capital Ventures Fund I (launched in 2001) managed wealth for “endowments and foundations such as Columbia, Princeton and Yale universities.”
According to BuyOuts magazine and S&P Capital IQ, Bain’s other college clients have included Cornell, Emory, the Massachusetts Institute of Technology, Notre Dame and the University of Pittsburgh. Preqin reports that the following schools have placed at least $424.6 million with Bain Capital between 1998 and 2008:
* Purdue University ($15.9 million)
* University of California ($225.7 million)
* University of Michigan ($130 million)
* University of Virginia ($20 million)
* University of Washington ($33 million)
Read more: http://www.nypost.com/p/news/opinion/opedcolumnists/look_who_parks_their_cash_at_bain_88KSQrw8BXciEidj a2ZQXN#ixzz25Oxm3Ez1
Democrats convened in Charlotte, NC, will double down on their claim that Bain Capital is really the Bain crime family. They will accuse Republican nominee Mitt Romney and Bain’s other “greedy” co-founders of stealing their winnings, evading taxes and lighting cigars with $100 bills on their yachts.
But Bain’s private-equity executives have enriched dozens of organizations and millions of individuals in the Democratic base — including some who scream most loudly for President Obama’s re-election.
Government-worker pension funds are the chief beneficiaries of Bain’s economic stewardship. New York-based Preqin uses public documents, news accounts and Freedom of Information requests to track private-equity holdings. Since 2000, Preqin reports, the following funds have entrusted some $1.56 billion to Bain:
* Illinois Municipal Retirement Fund ($2.2 million)
* Indiana Public Retirement System ($39.3 million)
* Iowa Public Employees’ Retirement System ($177.1 million)
* The Los Angeles Fire and Police Pension System ($19.5 million)
* Maryland State Retirement and Pension System ($117.5 million)
* Public Employees’ Retirement System of Nevada ($20.3 million)
* State Teachers Retirement System of Ohio ($767.3 million)
* Pennsylvania State Employees’ Retirement System ($231.5 million)
* Employees’ Retirement System of Rhode Island ($25 million)
* San Diego County Employees Retirement Association ($23.5 million)
* Teacher Retirement System of Texas ($122.5 million)
* Tennessee Consolidated Retirement System ($15 million)
These funds aggregate the savings of millions of unionized teachers, social workers, public-health personnel and first responders. Many would be startled to learn that their nest eggs are incubated by the company that Romney launched and the financiers he hired.
Leading universities have also profited from Bain’s expertise. According to Infrastructure Investor, Bain Capital Ventures Fund I (launched in 2001) managed wealth for “endowments and foundations such as Columbia, Princeton and Yale universities.”
According to BuyOuts magazine and S&P Capital IQ, Bain’s other college clients have included Cornell, Emory, the Massachusetts Institute of Technology, Notre Dame and the University of Pittsburgh. Preqin reports that the following schools have placed at least $424.6 million with Bain Capital between 1998 and 2008:
* Purdue University ($15.9 million)
* University of California ($225.7 million)
* University of Michigan ($130 million)
* University of Virginia ($20 million)
* University of Washington ($33 million)
Read more: http://www.nypost.com/p/news/opinion/opedcolumnists/look_who_parks_their_cash_at_bain_88KSQrw8BXciEidj a2ZQXN#ixzz25Oxm3Ez1