Quadrangle Group is a private investment firm focused on

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a typ ...

. The firm invests in

middle-market companies Authorities provide differing definitions of the middle-market or mid-market companies. While some authorities look to revenue generated by companies to define the middle market, other sources regard either asset size or number of employees as a bet ...

within the

media Media may refer to: Communication * Media (communication), tools used to deliver information or data ** Advertising media, various media, content, buying and placement for advertising ** Broadcast media, communications delivered over mass el ...

communications Communication (from la, communicare, meaning "to share" or "to be in relation with") is usually defined as the transmission of information. The term may also refer to the message communicated through such transmissions or the field of inqui ...

and information-based sectors. The firm, which is based in

New York City New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the U ...

, was founded in 2000, has raised approximately $3 billion of private equity capital since inception and employs approximately 40 investment professionals in offices in

New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

and

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...

. Quadrangle's private equity business, Quadrangle Capital Partners, raised a $1.1 billion fund in 2000, followed by a $2.0 billion fund in 2005. Citing a not-further-identified "investor letter", a Feb. 2010 news report said the first fund had already returned the full amount to its investors and retained stakes in several companies, while the second fund had about $500 million left to invest and was up 19 percent in 2009. No 2008 fund was referenced in the report. In February, 2009, Steven Rattner left Quadrangle when he was named as lead auto industry adviser to

United States Treasury Department The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and ...

Secretary

Timothy Geithner Timothy Franz Geithner (; born August 18, 1961) is a former American central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama from 2009 to 2013. He was the President of the Federal Reserve Bank ...

. A report at the time said that Michael Huber, who joined the firm in 2000, and Joshua L. Steiner would become co-presidents of the firm."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.

Bloomberg relationship

In January, 2008, it was reported that New York Mayor

Michael Bloomberg Michael Rubens Bloomberg (born February 14, 1942) is an American businessman, politician, philanthropist, and author. He is the majority owner, co-founder and CEO of Bloomberg L.P. He was Mayor of New York City from 2002 to 2013, and was a c ...

's extensive business interests were placed in "a sort of

blind trust A blind trust is a trust in which the trust beneficiaries have no knowledge of the holdings of the trust, and no right to intervene in their handling. In a blind trust, the trustees ( fiduciaries, or those who have been given power of attorney) ...

" 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." In February, 2009, when Rattner left, a report said Quadrangle would continue with its responsibilities for Bloomberg. In February, 2010, Mayor Bloomberg "shift dabout $5 billion from Quadrangle into a new investment firm devoted solely to loomberg'sinterest and that of his charitable foundation ithabout 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 efore thathad managed the personal fortune of

Gordon Moore Gordon Earle Moore (born January 3, 1929) is an American businessman, engineer, and the co-founder and chairman emeritus of Intel Corporation. He is also the original proponent of Moore's law. As of March 2021, Moore's net worth is re ...

Intel Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, Santa Clara, California. It is the world's largest semiconductor chip manufacturer by revenue, and is one of the devel ...

’s co-founder."

NY State pension fund investigation

Mr. Rattner and Quadrangle were linked to a New York pension fund investigation "within months of his eb. '09departure from Quadrangle, and attner thenstepped down from his government role" summer 2009."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. In September, 2009, a number of other firms involved in the pension fund investigation, including

Carlyle Group The Carlyle Group is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in private equity, real assets, and p ...

and

Riverstone Holdings Riverstone Holdings is a multinational private equity firm based in New York City focused on leveraged buyout, growth capital, and credit investments in the energy industry and electrical power industry sectors. The firm focuses on oil and gas e ...

, 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 Mr. Cuomo’s office." In April, 2010, the firm agreed to pay fines of $7 million to Mr. Cuomo’s office and $5 million to the

Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against mark ...

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 '' Chooch'' was a project involving a brother of David J. Loglisci, the chief investment officer of the state pension fund. Mr. Loglisci pleaded guilty n March 2010to securities fraud and admitted that he helped steer pension money to political contributors of the former state Comptroller, Alan G. Hevesi, and to companies that paid kickbacks to Mr. Hevesi’s top political consultant, Hank Morris."

Investment holdings

It current investment holdings or portfolio companies include: *

West Corporation Intrado, formerly West Corporation, is an American telecommunications company. It became a subsidiary of Apollo Global Management on October 11, 2017. Business Operations Intrado reorganized in five main segments: Cloud Collaboration, Life an ...

(Business Services) * PMC (Internet) * Hargray (Triple Play) *Tower Vision (Wireless)

References

Other references

On Wall St., Reputation Is Fragile

New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...

, August 5, 2008
The Dress Code Is Relaxed, but the Courting Is Intense

, November 10, 2006
Eyeing More Turf

, February 17, 2006

External links

Quadrangle Group
(company website)

at ''

The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...

''
New York Pension Inquiry
at ''

'' {{private equity firms Financial services companies established in 2000 Private equity firms of the United States