Bain Capital related stories
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- Romney Helped Blackstone Make 16x Their Money in First PE Deal
Steve Schwarzman, the Blackstone Group’s chairman and CEO, gave us some idea why he is backing Mitt Romney in his presidential bid. Schwarzman told Bloomberg Television that Blackstone's first PE investment in 1985 was a joint deal with Romney, who was head of Bain Capital at the time. The purchase of an aluminum wheel maker, which expanded rapidly, "turned out to be a marvelously successful deal," Schwarzman said. "We made about 16 times profit."
- VMTurbo Seals $10M
VMTurbo, maker of workload management software for cloud and virtualized environments, has closed on $10 million in Series B financing. Returning investors Bain Capital Ventures and Highland Capital Partners provided the financing. VMTurbo is based in Waltham, Mass.
- Schwarzman Favors Romney, Will Host Fundraiser for Presidential Candidate
Stephen Schwarzman, the Blackstone Group’s chairman and CEO, is backing Mitt Romney in his presidential bid, according to Bloomberg News http://www.businessweek.com/news/2011-11-28/schwarzman-backs-romney-as-wall-street-turns-away-from-obama.html Schwarzman will be hosting a fundraiser for Romney at his Park Avenue apartment next month, the story says. Schwarzman is also expected to persuade his Wall Street friends to back Romney in his bid for the president, Bloomberg says.