Electoral politics did not exactly suit Mitt Romney’s talents. The winner of exactly one general election in three tries, Romney has now joined the likes of Walter Mondale, Michael Dukakis and Al Gore in obscurity of the forcibly-retired section of the political hinterland.
Sure, he’ll pop up occasionally to offer some less-than-pointed criticisms of the man who trounced him in November. He’s even been invited to give a valedictory address to a group of people who never liked him in the first place and only swallowed him when they had to. But even at 65 with $200 million give-or-take in the bank, Willard Mitt Romney is not one to rest on his laurels, and he is very, very good in at least one area, as President Obama persistently reminded us last year: corporate raiding and making jokes with his rich friends (and clients) about the poors. And he’s lucky on that front, since one of his 28 sons has followed him into the family business by founding a private-equity firm. And he’s kept a corner office warm for dear old dad.
Mitt Romney is planning to take on a new role at Solamere Capital, the investment firm started by his son Tagg.
The former Republican presidential nominee will be the chairman of the executive committee and will also be on the investment committee at the firm, according to sources familiar with the move and a letter that went out to current investors on Wednesday night announcing Romney’s new involvement.
“Governor Romney’s track record in the private equity field is extraordinary, and we are honored to have him more involved in the firm,” read the letter, which was obtained by the Globe.
The letter noted they would begin accepting new investment commitments in the first half of 2013.
Mitt Romney to take new role at Solamere Capital [Boston Globe]
Romney returning to the private sector [NBC News]
Mitt Romney Now Employed by His Son [Atlantic]
Mitt Romney Returns to Private Equity [WSJ Private Equity Beat blog]