From Mike Allen.
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SIREN - Bloomberg Businessweek bombshell -- "ROMNEY REDUX? Jeb's Bush's financial affairs show that he's politically vulnerable as a mini-Mitt ... Jeb Bush Has a Mitt Romney Problem," by Joshua Green and Miles Weiss: "Documents filed with the U.S. [SEC] on Nov.?27 list Bush as chairman and manager of a new offshore private equity fund, BH?Global Aviation, which raised $61 million in September, largely from foreign investors. In November the fund -- incorporated in the United Kingdom and Wales -- a structure ... that operates like a tax haven by allowing overseas investors to avoid U.S. taxes and regulations. BH?Global Aviation is one of at least three such funds Bush has launched in less than two years through his Coral Gables, Fla., company, Britton Hill Holdings.
"He's also chairman of a $26 million fund, BH Logistics, established in April with backing from a Chinese conglomerate, and a $40 million fund involved in shale oil exploration ... His flurry of ventures doesn't suggest someone preparing to run for president, according to a dozen fund managers, lawyers, and private-placement agents ... Most private equity funds have a life span of 10 years. ... [N]ormally you'd be winding down such businesses, rather than expanding them, if you were going to run. ... Al Cardenas, a friend and former campaign chairman, [said] Bush is enjoying the good life of a private equity mogul." bloom.bg |
