Quadrangle targeted in New York investigation

04/22/2009 | Reuters

Quadrangle is being investigated by New York City to determine if the private-equity fund "intentionally misled" city officials on placement agents. The city invested $85 million in 2005 and $40 million in 2006 with Quadrangle, which was formerly led by Steven Rattner. Rattner is currently heading government efforts to stabilize the auto industry.

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