Mitt Romney returns to private equityMarch 7, 2013: 4:18 PM ET
The former presidential candidate is once again a private equity executive, but not at Bain Capital.
FORTUNE -- Ever since getting waxed by Barack Obama last November, Mitt Romney has maintained an office at his son Tagg's investment firm, Solamere Capital.
It's a lot like my Fortune office, in that both are in Boston and both are usually empty. The only difference is that Mitt has been spending his time on the beaches of La Jolla, while I've been stuck in a suburban house during New England winter.
But now Mitt is heading East, for at least one week per month, as Solamere's executive committee chairman.
Solamere isn't publicly commenting on the hire, likely because the firm is in the midst of fundraising and uses very conservative attorneys (in the sense of caution, not politics).
For the uninitiated, Solamere is a private equity firm (not a hedge fund) that invests around half of its capital into third party private equity funds and the other half into direct investments (a mix of proprietary deals and co-investment opportunities). It sounds like Romney will be involved on the investment and operational sides of the business, since NBC News reports that he will not be involved in fundraising.
Mitt Romney has been an investor in Solamere since its 2008 formation.
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