The deals Deval Patrick made at Bain Capital could face the same kind of scrutiny that Mitt Romney — who co-founded the firm — dealt with during his 2012 presidential campaign
When one of Deval Patrick’s partners at Bain Capital spoke at a conference last year, he described the work they were doing together in lofty terms.
Among the investments were a chain of vegan fast-casual restaurants currently being sued by its namesake and a health care company the Massachusetts attorney general sued while Patrick was the state’s governor. On one hand, it allowed Romney to run on his record as a businessman and turnaround expert. On the other, “we found ourselves defending private equity deals that resulted in job losses and plant closures,” Fehrnstrom said.
Penn Foster, an online school that Patrick’s fund and other investors bought into last year, said in February it had acquired Ashworth College.agreed to a settlement with Oregon’s attorney general “They’ve basically said, ‘You cannot make a living as a chef,’” Ronald Schutz, Coscarelli’s lawyer, said in an interview. “We own your face, we own your name.”
More than 10 percent of the $390 million Patrick’s fund raised came from Bain Capital employees, according to the firm. But Patrick’s campaign wouldn’t say how much Patrick invested in the fund or other Bain Capital funds.
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