Bain bites back against critics

BAIN Capital, the private equity house co-founded by Mitt Romney, has moved to defend its record of investments after months of being criticised as a “corporate raider”.

The firm wrote to investors after Romney’s former position at the helm took on a high-profile role in the race for the Republican nomination for US president.

Bain said it had created hundreds of thousands of jobs in its 28-year history and that fewer than five per cent of the companies in which it invested had filed for bankruptcy.