Inside the White House with D.C.'s most wired reporter. Sign up for Mike Allen's Axios AM.

Stories

Tagg Romney's investment firm closes in on new fund

Tagg Romney at the 2012 Republican National Convention.
Photo by Chip Somodevilla/Getty Images

Solamere Capital, the Boston-based private equity shop co-founded by Tagg Romney (and chaired by dad Mitt), disclosed in SEC filings that its in the midst of raising its third fund.

Bottom line: Word is that capital is all committed and allocated, with a target just north of the $525 million raised for Fund II back in 2014.

No comment from Solamere, natch.

  • One big change will be that around 80% of the capital is slated for direct investments, while the remainder will go to fund-of-funds activities (Solamere technically is raising two funds, one for each purpose). Last time around, around $370 million of the $525 million was allocated for fund-of-funds.
  • Investors have not been given any special insight as to whether Mitt is running for Senate from Utah.
More stories loading.