It’s taken more than a year, but Solamere Capital is finally closing its debut fund. According to a source familiar with the situation, the firm will hold a final close later this month on a bit more than its $200 million target.
Tagg Romney, the son of Bain Capital founder and once/future presidential candidate Mitt Romney, formed Solamere with a varied crew of co-founders. They include: Spencer Zwick, the director of finance on Mitt Romney’s campaign; John Miller, the former CEO of National Beef Packing Co; and Eric Scheuerman, formerly of Jupiter Partners. The firm also hired Allan Dowds, the former CFO of J.W. Childs Associates.
The firm’s strategy, according to its website, it is identify private equity opportunities through the founders’ “unparalleled networks, business expertise, and access to compelling opportunities.” The site explains that that includes direct buyouts, co-investments and fund-of-fund investments.
Previously: A Different Romney Enters Private Equity