Who Profits from Bain Capital? (Indiana, Barack Obama, Pittsburgh, school)

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"Government-worker pension funds are the chief beneficiaries of Bain Capital'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 Fund ($39.3 million)

Iowa Public Employees' Retirement System ($177.1 million)

Los Angeles Fire and Police Pension System ($19.5 million)

Maryland State Retirement and Pension System ($117.5 million)

New York Public Employees' Retirement System of Nevada ($20.3 million)

Ohio State Teachers Retirement System of Ohio ($767.3 million)

Pennsylvania State Employees Retirement System ($231.5 million)

Rhode Island Employees Retirement System of Rhode Island ($25.0 million)

San Diego County Employees Retirement System Association ($23.5 million)

Texas Teacher Retirement System of Texas ($122.5 million)

Tennessee Consolidated Retirement System ($15.0 million)

These pension funds aggregate the savings of millions of unionized teachers, social workers, public-health personnel, and first responders"

"Leading universities have 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." The Wall Street Journal's James Freeman noted July 18 that Harvard "has also invested with Bain."

Thus, Michelle and Barack Obama's undergraduate campuses (Princeton and Columbia, respectively) and the university where they earned their law degrees (Harvard) all have enjoyed Bain Capital's financial prowess.

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 these 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)

Major, center-left foundations and cultural establishments also have seen their prospects brighten, thanks to Bain Capital. According to the aforementioned sources, such Bain clients have included the Charles Stewart Mott Foundation, the Doris Duke Foundation, the Metropolitan Museum of Art, the Ford Foundation, the Heinz Endowments, and the Oprah Winfrey Foundation."


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