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Romney returning to the private sector

Former Massachusetts governor and Republican presidential nominee Mitt Romney has a new job.

NBC News has learned that Romney is returning to the private sector, joining his eldest son Tagg's investment firm, Solamere Capital, as chairman of the executive committee.

A person with knowledge of the deal tells NBC that Romney is planning to work with Solamere for one week a month. He will be advising on matters of private equity, and is not planning to fundraise at all for the firm.

An email is expected to go out tomorrow heralding the news to top investors.

Romney has held office space at Solamere, which is based in Boston, since the election.  However, he has mostly spent time with his family since the loss, and has not been officially involved in business matters.  His campaigns for president in 2008 and 2012 largely focused on his background in the business world.  Romney founded asset management company Bain Capital in 1984.