Private Equity Firm, Bain Capital | featured news

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.