comMITTed to Romney!

Gov. Romney’s former company Bain Capital LLC has teamed up with Hellman & Friedman LLC to acquire prestigious investment management firm Neuberger Berman. The headlines are sobering, but there is value out there, if you know where to look for it. Bain Capital knows where to look.

~~John Cronin~~

WSJ Online

Private-equity firms Bain Capital LLC and Hellman & Friedman LLC reached a deal to acquire a chunk of Lehman Brothers Holdings Inc.’s investment-management unit, including its prized Neuberger Berman division, for $2.15 billion.

An auction of the profitable investment-management unit began more than a month ago as Lehman scrambled to raise capital.

The Wall Street firm originally planned to sell a 55% stake in the unit, but as a result of its bankruptcy filing the entire business was placed on the block.

The price paid by Bain Capital and Hellman is a sharp discount to the amount Neuberger and Lehman’s had previously valued the unit.

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