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Quadrangle Group
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<h2 id="bloomberg-relationship">Bloomberg relationship</h2> <p>In January, 2008, it was reported that New York Mayor <a href="/facts/Michael_Bloomberg/l7kgF06f">Michael Bloomberg</a>'s extensive business interests were placed in "a sort of <a href="/facts/Blind_trust/rlRDsH9J">blind trust</a>" with Quadrangle because of Bloomberg's possible run for the presidency. Bloomberg was reported to be a friend of Rattner. Bloomberg would "continue to have control of and access to certain investment decisions."<a class="footnote-ref" id="fnref:7" href="#fn:7"><sup>7</sup></a> In February, 2009, when Rattner left, a report said Quadrangle would continue with its responsibilities for Bloomberg.<a class="footnote-ref" id="fnref:8" href="#fn:8"><sup>8</sup></a> </p><p>In February, 2010, Mayor Bloomberg "shift[ed] about $5 billion from Quadrangle into a new investment firm devoted solely to [Bloomberg's] interest and that of his charitable foundation [with] about a dozen employees of Quadrangle," it was reported. Moving to the new unit would be Alice Ruth, who had been recruited to Quadrangle for the Bloomberg job and "who [before that] had managed the personal fortune of <a href="/facts/Gordon_Moore/AMW52edX">Gordon Moore</a>, <a href="/facts/Intel/SMF0gJJX">Intel</a>’s co-founder."<a class="footnote-ref" id="fnref:9" href="#fn:9"><sup>9</sup></a> </p> <h2 id="ny-state-pension-fund-investigation">NY State pension fund investigation</h2> <p>Mr. Rattner and Quadrangle were linked to a New York pension fund investigation "within months of his [Feb. '09] departure from Quadrangle, and [Rattner then] stepped down from his government role" summer 2009.<a class="footnote-ref" id="fnref:10" href="#fn:10"><sup>10</sup></a> In September, 2009, a number of other firms involved in the pension fund investigation, including <a href="/facts/Carlyle_Group/gTPw8a9I">Carlyle Group</a> and <a href="/facts/Riverstone_Holdings/50JAynby">Riverstone Holdings</a>, either paid fines or had "already agreed to pay settlements and to stop using placement agents," while Rattner and Quadrangle were "among others in talks with <a href="/facts/Andrew_Cuomo/UY6MTkgs">Mr. Cuomo</a>’s office."<a class="footnote-ref" id="fnref:11" href="#fn:11"><sup>11</sup></a> In April, 2010, the firm agreed to pay fines of $7 million to Mr. Cuomo’s office and $5 million to the <a href="/facts/U.S._Securities_and_Exchange_Commission/IM9Pl2gK">Securities and Exchange Commission</a> to settle its part. Rattner was not included in the agreement. According to a report, "The allegations against Quadrangle involved a movie deal that a company owned by one of the firm’s funds agreed to distribute. That film called <i>Chooch</i> was a project involving a brother of David J. Loglisci, the chief investment officer of the state pension fund. Mr. Loglisci pleaded guilty [in March 2010] to securities fraud and admitted that he helped steer pension money to political contributors of the former state Comptroller, <a href="/facts/Alan_G._Hevesi/rVnDThmc">Alan G. Hevesi</a>, and to companies that paid kickbacks to Mr. Hevesi’s top political consultant, <a href="/facts/New_York_Comptroller_election,_2006/896PbPSU">Hank Morris</a>."<a class="footnote-ref" id="fnref:12" href="#fn:12"><sup>12</sup></a> </p> <h2 id="investment-holdings">Investment holdings</h2> <p>It current investment holdings or portfolio companies include:<a class="footnote-ref" id="fnref:13" href="#fn:13"><sup>13</sup></a> </p> <ul><li><a href="/facts/West_Corporation/7wCdCFER">West Corporation</a> (Business Services)</li> <li><a href="/facts/Penske_Media_Corporation/aPtCX9Br">PMC</a> (Internet)</li> <li><a href="/facts/Hargray/R7wlfrN0">Hargray</a> (Triple Play)</li> <li>Tower Vision (Wireless)</li></ul> <h3>Other references</h3> <ul><li><a href="https://www.nytimes.com/2008/08/05/business/05sorkin.html">On Wall St., Reputation Is Fragile</a>. <a href="/facts/New_York_Times/T9marWVX">New York Times</a>, August 5, 2008</li> <li><a href="https://www.nytimes.com/2006/11/10/technology/10deal.html">The Dress Code Is Relaxed, but the Courting Is Intense</a>. <a href="/facts/New_York_Times/T9marWVX">New York Times</a>, November 10, 2006</li> <li><a href="https://www.nytimes.com/2006/02/17/business/17fund.html">Eyeing More Turf</a>. <a href="/facts/New_York_Times/T9marWVX">New York Times</a>, February 17, 2006</li></ul> <h2 id="external-links">External links</h2> <ul><li><a href="http://www.quadranglegroup.com">Quadrangle Group</a> (company website)</li> <li><a href="https://topics.nytimes.com/top/news/business/companies/quadrangle_group_llc/index.html">Quadrangle Group LLC</a> at <i><a href="/facts/The_New_York_Times/T9marWVX">The New York Times</a></i></li> <li><a href="https://topics.nytimes.com/top/news/national/usstatesterritoriesandpossessions/newyork/pension-inquiry/index.html">New York Pension Inquiry</a> at <i><a href="/facts/The_New_York_Times/T9marWVX">The New York Times</a></i></li></ul> <h2 id="references">References</h2> <ol> <li id="fn:1"><p>"Quadrangle Group LLC". OpenCorporates. February 28, 2000. Retrieved September 4, 2023. <a href="https://opencorporates.com/companies/us_de/3184362" target="_blank">https://opencorporates.com/companies/us_de/3184362</a> <a href="#fnref:1" class="footnote-back-ref">↩</a></p></li> <li id="fn:2"><p>"Quadrangle Group". Quadrangle Group. Retrieved September 4, 2023. <a href="http://www.quadranglegroup.com/" target="_blank">http://www.quadranglegroup.com/</a> <a href="#fnref:2" class="footnote-back-ref">↩</a></p></li> <li id="fn:3"><p>"US Quadrangle holds first closing of second media fund on $1bn" AltAssets, March 20, 2005. <a href="http://www.altassets.com/news/arc/2005/nz6512.php" target="_blank">http://www.altassets.com/news/arc/2005/nz6512.php</a> <a href="#fnref:3" class="footnote-back-ref">↩</a></p></li> <li id="fn:4"><p>"Bloomberg Shifts $5 Billion Out of Friend’s Firm" by Louise Story and Michael Barbaro, The New York Times, Friday, February 19, 2010 (Feb. 20, 2010 p. B1 NY ed.). Retrieved 2010-02-20. <a href="https://www.nytimes.com/2010/02/20/business/20mayor.html?hp" target="_blank">https://www.nytimes.com/2010/02/20/business/20mayor.html?hp</a> <a href="#fnref:4" class="footnote-back-ref">↩</a></p></li> <li id="fn:5"><p>Huber bio Quadrangle Web site. Retrieved 2-23-09. <a href="http://www.quadranglegroup.com/Team/Bio.aspx?id=15" target="_blank">http://www.quadranglegroup.com/Team/Bio.aspx?id=15</a> <a href="#fnref:5" class="footnote-back-ref">↩</a></p></li> <li id="fn:6"><p>"Rattner to Serve as Lead Adviser on Auto Bailout" by Michael J. de la Merced and Andrew Ross Sorkin, The New York Times "DealBook", Feb. 23, 2009 1:41 pm. Retrieved 2-23-09. <a href="https://dealbook.blogs.nytimes.com/2009/02/23/rattner-to-serve-as-lead-adviser-on-auto-bailout/?hp" target="_blank">https://dealbook.blogs.nytimes.com/2009/02/23/rattner-to-serve-as-lead-adviser-on-auto-bailout/?hp</a> <a href="#fnref:6" class="footnote-back-ref">↩</a></p></li> <li id="fn:7"><p>"Bloomberg Chooses a Friend to Manage His Fortune" by Andrew Ross Sorkin, The New York Times, Jan. 16. 2008. Retrieved 2-23-09. <a href="https://www.nytimes.com/2008/01/16/nyregion/16conflict.html" target="_blank">https://www.nytimes.com/2008/01/16/nyregion/16conflict.html</a> <a href="#fnref:7" class="footnote-back-ref">↩</a></p></li> <li id="fn:8"><p>"Rattner to Serve as Lead Adviser on Auto Bailout" by Michael J. de la Merced and Andrew Ross Sorkin, The New York Times "DealBook", Feb. 23, 2009 1:41 pm. Retrieved 2-23-09. <a href="https://dealbook.blogs.nytimes.com/2009/02/23/rattner-to-serve-as-lead-adviser-on-auto-bailout/?hp" target="_blank">https://dealbook.blogs.nytimes.com/2009/02/23/rattner-to-serve-as-lead-adviser-on-auto-bailout/?hp</a> <a href="#fnref:8" class="footnote-back-ref">↩</a></p></li> <li id="fn:9"><p>"Bloomberg Shifts $5 Billion Out of Friend’s Firm" by Louise Story and Michael Barbaro, The New York Times, Friday, February 19, 2010 (Feb. 20, 2010 p. B1 NY ed.). Retrieved 2010-02-20. <a href="https://www.nytimes.com/2010/02/20/business/20mayor.html?hp" target="_blank">https://www.nytimes.com/2010/02/20/business/20mayor.html?hp</a> <a href="#fnref:9" class="footnote-back-ref">↩</a></p></li> <li id="fn:10"><p>"Bloomberg Shifts $5 Billion Out of Friend’s Firm" by Louise Story and Michael Barbaro, The New York Times, Friday, February 19, 2010 (Feb. 20, 2010 p. B1 NY ed.). Retrieved 2010-02-20. <a href="https://www.nytimes.com/2010/02/20/business/20mayor.html?hp" target="_blank">https://www.nytimes.com/2010/02/20/business/20mayor.html?hp</a> <a href="#fnref:10" class="footnote-back-ref">↩</a></p></li> <li id="fn:11"><p>"4 Firms Agree to Settlement in New York Pension Fund Inquiry" Michael J. de la Merced, The New York Times, September 17, 2009 (Sep. 18, 2010 p. B1 NY ed.). Retrieved 2010-02-20. <a href="https://www.nytimes.com/2009/09/18/business" target="_blank">https://www.nytimes.com/2009/09/18/business</a> <a href="#fnref:11" class="footnote-back-ref">↩</a></p></li> <li id="fn:12"><p>"Quadrangle Group Settles Pension Fund Case" by Louise Story, The New York Times, April 15, 2010. Retrieved 2010-04-15. <a href="https://www.nytimes.com/2010/04/16/business/16pension.html?hp" target="_blank">https://www.nytimes.com/2010/04/16/business/16pension.html?hp</a> <a href="#fnref:12" class="footnote-back-ref">↩</a></p></li> <li id="fn:13"><p>"Quadrangle - Portfolio". www.quadranglegroup.com. <a href="http://www.quadranglegroup.com/Portfolio/Default.aspx" target="_blank">http://www.quadranglegroup.com/Portfolio/Default.aspx</a> <a href="#fnref:13" class="footnote-back-ref">↩</a></p></li> </ol>