WASHINGTON, March 16 (UPI) -- Private equity firm Bain Capital, once run by presidential hopeful Mitt Romney, could profit from China's security effort, The New York Times reported Friday.
In December, a Bain-run fund in which a Romney family blind trust has holdings bought the video surveillance unit of a Chinese company, the Time said.
The company, Uniview Technologies, produces "infrared anti-riot" cameras and software that allow police in different jurisdictions to share images in real time on the Internet, the company's Web site said.
Romney hasn't been involved in Bain since 1999 and had no input in the investment in China, the Times said.
However, financial disclosure forms Romney filed in August indicate a blind trust in the name of his wife, Ann Romney, held a stake of between $100,000 and $250,000 in the Bain Capital Asia fund that bought Uniview.
In a statement, R. Bradford Malt, the trust's manager, said he had put trust assets into the fund before it bought Uniview and the Romneys had no role in directing their investments.
Bain's decision to enter China's surveillance industry is a ticklish subject for Romney, who frequently calls for a firm stand against the Chinese government's efforts to squelch religious freedom and political dissent, the Times said.
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