BINGO! The SEC has to list ownership details when a Private Equity firm buys/sells shares. One of the best ways for the BAIN Capitals of the world to make money is through shares. Within the huge SEC is a Money Trail.
Below is the journey through just one of the hundreds of listings the SEC has for 70 entities that form the BAIN.
ALSO, this is a must read. I found this today, Sunday, July 15th.
2007 LA Times Broke the Romney/Tax Haven Story: Much Greater Depth
The following BAIN/FLEETCOR TECHNOLOGIES INC FLT transaction is taken From this SEC link: http://www.sec.gov/...
I took the liberty of tweeking the format so a regular person can follow the language.
Beneath the orange croissant I will provide the sequential steps taken through the SEC website to find THIS ONE DEAL.
On June 7, 2012 "The Bain Entities distributed 228,645 shares of Common Stock (valued at $0 per share) to one or more members or partners of the Bain Entities in connection with certain charitable gifts made by such members or partners on June 7, 2012."
1,771,255 Common Stock shares were sold for $36.95 per share. These footnotes describe how and which BAIN AKA sold the shares.
1,771,255 Shares Sold X $36.95 = $65,447,787.25
Not a bad days work. But wait! This is just ONE TRANSACTION.
FOOTNOTES:
1. Bain Capital Investors, LLC ("BCI") is the sole general partner of Bain Capital Partners VIII, L.P. ("BCP VIII"), which is the sole general partner of Bain Capital Fund VIII, L.P. ("BCF VIII"), which is the sole member of Bain Capital Fund VIII, LLC ("Fund VIII"). As a result, each of BCI, BCP VIII and BCF VIII may be deemed to share voting dispositive power with respect to the shares of Common Stock held by Fund VIII. Each of BCI, BCP VIII and BCF VIII disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein. On June 7, 2012, Fund VIII sold 1,699,761 shares of Common Stock. Following such sale, Fund VIII held 7,038,750 shares of Common Stock.
2. BCI is also the managing partner of BCIP Associates III ("BCIP-A"), which is the sole manager of BCIP Associates III, LLC ("BCIP-A Fund"). As a result, each of BCI and BCIP-A may be deemed to share voting and dispositive power with respect to the shares of Common Stock held by BCIP-A Fund. Each of BCI and BCIP-A disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein. On June 7, 2012, BCIP-A Fund sold 37,256 shares of Common Stock. Following such sale, BCIP-A Fund held 161,765 shares of Common Stock.
3. BCI is also the managing partner of BCIP Trust Associates III ("BCIP-TA"), which is the sole manager of BCIP T Associates III, LLC ("BCIP-TA Fund"). As a result, each of BCI and BCIP-TA may be deemed to share voting and dispositive power with respect to the shares of Common Stock held by BCIP-TA Fund. Each of BCI and BCIP-TA disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein. On June 7, 2012, BCIP-TA Fund sold 20,687 shares of Common Stock. Following such sale, BCIP-TA Fund held 75,831 shares of Common Stock.
4. BCI is also the managing partner of BCIP Associates III-B ("BCIP-AB"), which is the sole manager of BCIP Associates III-B, LLC ("BCIP-AB Fund"). As a result, each of BCI and BCIP-AB may be deemed to share voting and dispositive power with respect to the shares of Common Stock held by BCIP-AB Fund. Each of BCI and BCIP-AB disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein. On June 7, 2012, BCIP-AB Fund sold 2,134 shares of Common Stock. Following such sale, BCIP-AB Fund held 12,773 shares of Common Stock
5. BCI is also the managing partner of BCIP Trust Associates III-B ("BCIP-TAB"), which is the sole manager of BCIP T Associates III-B, LLC ("BCIP-TAB Fund"). As a result, each of BCI and BCIP-TAB may be deemed to share voting and dispositive power with respect to the shares of Common Stock held by BCIP-TAB Fund. Each of BCI and BCIP-TAB disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein. On June 7, 2012, BCIP-TAB Fund sold 11,006 shares of Common Stock. Following such sale, BCIP-TAB Fund held 40,342 shares of Common Stock.
6. BCI is also the managing partner of BCIP Associates-G ("BCIP-AG" and together with Fund VIII, BCIP-A Fund, BCIP-TA Fund, BCIP-AB Fund and BCIP-TAB Fund, the "Bain Entities"). As a result, BCI may be deemed to share voting and dispositive power with respect to the shares of Common Stock held by BCIP-AG. BCI disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein. On June 7, 2012, BCIP-AG sold 511 shares of Common Stock. Following such sale, BCIP-TAB held 1,871 shares of Common Stock.
7. On June 7, 2012, the Bain Entities distributed 228,645 shares of Common Stock to one or more members or partners of the Bain Entities in connection with certain charitable gifts made by such members or partners on June 7, 2012.
The BAIN AKAs still own a lot of FLEETCOR TECHNOLOGIES INC [ FLT ]
Specifically, the BAIN AKAs still own $2,708,927,174 worth of shares:
7,331,332 shares x $36.95 = $2,708,927,174
I'm not sure if the CHARITABLE SHARES in Footnote #7 would be deducted from this, or not.
The CHARITABLE SHARES that were given away are worth:
228,645 x $36.95 = $8,448,423.75
The instructions on how to put this together for the other items listed are below.
HAPPY RESEARCHING!
STEPS
1. Go the SEC website: http://www.sec.gov/
2. Search for "Bain Capital" Company Filings: You will end up at this link:
http://www.sec.gov/...
You will find that BAIN uses 70 Different named entities in its filings with the SEC. Take just a moment to click and view the 70 different names BAIN calls itself.
3. When you view the list of 70 BAIN AKA's, you will see that each BAIN AKA has its own CIK number which is a hyperlink. I chose the first* item on the list and clicked on the CIK#
CIK# Company Name State
0001429908 Bain Capital (CC) IX Coinvestment Offshore, L.P. MA
*VERY ODD. THIS IS NOW THE 7TH Item on the list. Is someone at SEC working today?
4. I was brought to this link: http://www.sec.gov/...
Towards the bottom of the page, I saw that there were 3 filings with a document link. I clicked on the "Document Link"
5. The "Document Link" brought me to this link: http://www.sec.gov/...
6. At this link you will see another list of BAIN AKAs. I chose the one at the top of the list "Bain Capital Investors LLC" and clicked on the red "CIK" hyper link, in this case the CIK # 0001040508 which brought me to this link: http://www.sec.gov/...
7. The first item on the list is "4 Filings" followed with a "Document" Hyperlink. Click on the Document hyperlink and came to this link: http://www.sec.gov/...
Which provides the following options:
Seq Description Document Type Size
1 FORM 4 rrd348344.html 4
1 FORM 4 rrd348344.xml 4 17103
Complete submission text file 0001181431-12-035870.txt 23995
8. I wanted something I could read, and found that the rrd348344.html option provides the form submitted to the SEC with a written explanation at the bottom of the form. FOR THIS ONE TRADE, THE LINK IS http://www.sec.gov/...
9. The STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP, SEC Form 4 is signed by Bain Managing Director. There is a second SEC Form 4 qualifying the Managing Director.
MORE ABOUT FLEETCOR TECHNOLOGIES:
Shortly after Bain and others sold sold their shares as depicted in the introduction above, on July 11, 2012 Fleetcorp went on a buying spree:
SEC For 8-K
On July 11, 2012, FleetCor Technologies, Inc. ("FleetCor") announced that it successfully completed its previously announced acquisition of CTF Technologies, Inc. for $180 million. FleetCor also announced that it acquired a leading Russian fuel card company.
Prior the above acquisitions, shares of FleetCor Technoligies, Inc. were quite active.
The Bain share sales were underwritten by Citigroup Global Markets Inc.
On June 7, 2012, FleetCor Technologies, Inc. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc. (the “Underwriter”), entities associated with Summit Partners and Bain Capital Partners and the other selling stockholders named therein (collectively, the “Selling Stockholders”). Pursuant to the terms of the Underwriting Agreement, the Selling Stockholders agreed to sell, and the Underwriter agreed to purchase, subject to and upon terms and conditions set forth therein, an aggregate of 6,750,000 shares of the Company’s common stock (the “Offering”).
If you search the Underwriting Agreement, you will find a Luxembourg connection. Luxumbourg is mentioned 13 times in the agreement.
Luxembourg is the ‘Death Star’ of tax havens
June 7, 2012 is the same day Bain sold its FleetCor shares.
June 7, 2012 Manager of GP of 10% owner sold 4,000,000 shares $36.95
You can read all of FleetCorp share transactions here.
June 13, 2012 Ceo & President sells 750,000 shares for $36.95 per share
June 29, 2012 President, Developing Markets sells 10,582 shares for $34.42 per share
On July 1, 2012 CEO & President received 833,333 shares valued at $35.04 per share. Footnote: 1. 833,333 stock options granted, with four year annual vesting, 25% vesting annually beginning July 1, 2013 with a ten year term
833,333 x $35.03/share = $29,199,988.31
On July 5, 2012, President of Major Oil Card Programs acquired 31,899 shares at $14 per share, then sold 31,899 shares for $35.50 per share.
Here's FleetCor's (FLT) Chart for the past three months. The Big Spike on June 7 shows 3,545,000 shares traded far exceeding the usual average of around 400,000.
Well, this was a challenge, but I learned a lot.
I hope this helps others better understand what is going on.
My take? The TBTF banks are bankrolling the Private Equity Funds. Money from around the world is somehow snatched in large amounts by very few people working at these PE firms. The TBTFs get exhorbitant fees for their part. And much of the money is tucked away in tax havens.
Have the SEC laws been rewritten since 1934?
Meanwhile, millions of Americans are struggling, hoping to pick up some scraps from the tables of the uber Mitt Romney types who jet from here to there.
For instance, my single mom friend had to pay 24% interest on a car loan because her car died, she had to get a new one, she just graduated from college w/$42,000 in student loans, hasn't been able to find a well-paying job, and just got diagnosed with State III Breast cancer. The car shark was the only place she could turn to. I called the State to see if the 24% was legal, and it is.
The Rich get Filthy Rich while the rest are so stressed out, they are getting cancer.
WHERE'S HER BAILOUT? WHY CAN'T CITIGROUP UNDERWRITE HER
Why is it legal for usury interest rates to be charged to hard working regular folks?
There is no compassion or mercy.
Romney is the new, evolved human: Heartless, Greedy, Power Hungry Unempathetic Elitist.
I'm glad I'm old. I don't like it here anymore. I want the world to use my form of capitalism: Sufficiency Capitalism, not Vulture