Thursday, March 7, 2013

Private Equity: Mitt Romney is B-a-a-c-k

Yes, folks it's a new chapter in the mostly fabulous life of Mitt Romney.  The former Republican presidential candidate couldn’t stay away from private equity for too long. The former Massachusetts governor and head of Bain Capital will join Solamere Capital, where his son Taggart serves as a managing partner, a person with knowledge of the matter said. Mr. Romney is expected to spend a portion of his time serving as chairman of the firm’s executive committee, the person told  the WSJ.

Solamere Capital, founded in 2008, is led by Taggart Romney, along with Eric Scheuermann, a former partner of Jupiter Partners, and Spencer Zwick, who was once deputy chief of staff during Mr. Romney’s tenure as Massachusetts governor.  Boston-based Solamere raised its debut fund in 2010 and collected more than $240 million in commitments, according to the firm’s registered investment adviser filing. As of December 2011, the fund had invested roughly $100 million….

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