The Guardian reports today that the documents published by Gawker, make clear that tax avoidance is a primary aim of some of his investments.
Romney and his wife, Ann, are both investors in a Cayman Island-based fund called Bain Capital Fund VIII. The Bain fund contains assets worth up to $3.7bn and according to the documents, “intends to conduct its operations so that it will not be engaged in a United States trade or business and, therefore, will not be subject to United States federal income or withholding tax on its income from United States sources”.
Bain controls at least 138 funds in the Caymans, and Romney personally has $30m invested in the Cayman Islands alone, according to an earlier report by Vanity Fair.
Romney has not yet commented on the new documents.