Subject: RE: January 2003: Romney puts his financial holdings into a blind trust.
From: "Begala, Paul" <[email-masked]>
To: "Tara McGuinness" <[email-masked]>, [email-masked], "Jim Gerstein" <[email-masked]>, "John Podesta" <[email-masked]>, "Stan Greenberg" <[email-masked]>, "Susan McCue" <[email-masked]>, "Zach Schwartz" <[email-masked]>
Date: Fri, 21 Dec 2007 12:23:39 -0500

Jeeezus.  I didn't know he was parking assets overseas!  Bermuda!  The
Caymans!  Holy sunscreen, Batman!
 
Great stuff.  

________________________________

From: Tara McGuinness [mailto:[email-masked]] 
Sent: Friday, December 21, 2007 12:18 PM
To: [email-masked]; Begala, Paul; Jim Gerstein; John Podesta; Stan
Greenberg; Susan McCue; Zach Schwartz
Subject: January 2003: Romney puts his financial holdings into a blind
trust.

Romney and Bain Capital

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A timeline of the GOP presidential hopeful's path to wealth.

December 17, 2007

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