Bain Capital, LLC is a private investment firm with approximately $40 billion in assets under management. Its family of funds includes private equity, venture capital, public equity and leveraged debt assets. Absolute Return Capital, LLC (ARC) is the global macro affiliate of Bain Capital. Bain Capital Private Equity has raised nine funds and invested in more than 200 companies. Bain Capital (Europe) Limited, an affiliate, is dedicated to investment opportunities in the European market. Bain Capital Venture Partners, LLC is the venture capital arm of Bain Capital. Sankaty Advisors, LLC, the credit affiliate of Bain Capital, LLC, is a private manager of high-yield debt obligations. In October 2006, Michaels Stores, Inc. announced the completion of its merger with affiliates of Bain Capital Partners LLC and The Blackstone Group. As a result, Bain Capital Partners LLC and Blackstone own equal stakes in Michaels, and funds affiliated with Highfields Capital Management own a minority stake.