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Former Mass. governor joins Mitt Romney's old firm, Bain Capital

By Amy R. Connolly
Former Mass. governor joins Mitt Romney's old firm, Bain Capital
Former Governor of Massachusetts Deval Patrick speaks during the annual Jefferson Jackson dinner in St. Louis on June 8, 2013. File Photo by Bill Greenblatt/UPI. | License Photo

BOSTON, April 14 (UPI) -- Former Mass. Gov. Deval Patrick, has joined Boston private equity firm Bain Capital, to lead a new unit that will focus on "social impact" investing to support causes ranging from world hunger to climate change.

Patrick, a Democrat who led the state of Massachusetts for two terms, will be joining the firm co-founded by Mitt Romney, the unsuccessful Republican presidential candidate who preceded Patrick as Massachusetts governor.

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Patrick, 58, has long been viewed as a possible presidential candidate, but he instead returned to the private sector after completing his tenure as governor in January.

"It was a happy and timely coincidence I was interested in building a business that Bain was also interested in building," Patrick told The Wall Street Journal.

Bain is one of the biggest private equity firms, with about $65 billion in assets under management. At Bain, Patrick will be expected to raise money for a new fund that will not only have a positive social impact but also a positive investment performance.

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