Mitt Romney, Private Equity Firm | featured news

Marc Leder, the co-chief executive of private equity firm Sun Capital Partners Inc who hosted a fundraiser in May in which Republican presidential candidate Mitt Romney criticized supporters of U.S. President Barack Obama, said on Tuesday he had supported people from both political parties.

The official spoke on the condition of anonymity because of the sensitivity of the probe. It is examining whether the firms used a tax strategy to avoid paying hundreds of millions of dollars in taxes. The practice involved converting some fees collected for managing accounts into fund investments, resulting in a lower tax rate.

Mitt Romney is shedding some light on lessons learned while he headed the private-equity firm Bain Capital, a key part of his presidential campaign narrative. In an op-ed column published in today's Wall Street Journal, the presumptive GOP presidential nominee discusses how his 15 years at the firm he co-founded laid the foundation for his work at the 2002 Winter Olympics in Salt Lake City and then as governor of Massachusetts.