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The former chief executive of Wal-Mart is joining a Lexington private-equity firm co-founded by Mitt Romney's son and others with ties to the former Bay State governor.
Lee Scott, who stepped down as Wal-Mart's chief earlier this year, will serve as an "operating partner" at Solamere Capital, which has already raised about $200 million for future investments.
A spokesman said Scott, who headed the giant Arkansas-based retailer for nine years, will bring his experience and contacts to the firm, which plans to cater to rich individuals and families.
