Romney’s holdings in Bain valued above $10M

Presidential candidate Mitt Romney and his wife Anne are worth between $190 million and $250 million, according to personal financial disclosure documents filed last week with the Federal Election Commission. This includes a substantial “allocation” to private equity, with most of it going to funds managed by Romney’s former colleagues at Bain Capital.

Romney, who co-founded Bain Capital, left the firm in February 1999 to oversee the 2002 Winter Olympics in Salt Lake City. As part of his departure, he agreed to a 10-year non-compete, non-hire and confidentiality agreement. In exchange, Romney was provided with a passive profit share as a “retired partner” for Bain Capital entities formed on or before Feb. 11, 2009. Four years after he left Bain Capital, Romney became governor of Massachusetts, at which point state law required that most of his investment assets be put into a blind trust.

The details of that trust were revealed in the FEC documents last week, and show that Romney still has stakes in 34 Bain-related funds. This includes its general private equity funds, venture capital funds (managed by Bain Capital Ventures), mezzanine funds, fixed income funds and absolute return funds. His most recent investments—via the blind trust—came just this year, and his total Bain-related holdings were valued at a bare minimum of $10.21 million, as of March 31, 2007. They generated more than $7 million in income, during the reporting period.

The Romneys also have positions in a handful of other private equity funds. They include the first fund from Sun Capital Partners (1999 vintage), the second fund from ABRY Partners (1995) and a pair of private equity vehicles from Goldman Sachs Capital Partners (1998 and 2000). —Dan Primack