Monday, 20 October 2014
Last updated 2 days ago
Mar 12 2010 | 8:08am ET
Quadrangle Group co-founder Steven Rattner is in talks with New York Attorney General Andrew Cuomo to settle his role in a pay-to-play probe of the state’s largest public pension fund.
Rattner, who until the summer served as President Barack Obama’s top adviser on restructuring the U.S. auto industry, has not been charged with any wrongdoing. Cuomo yesterday called his probe of Rattner and Quadrangle an “ongoing matter.”
Quadrangle paid about $1.1 million in allegedly bogus finder-fees to Henry Morris, the top political consultant to former New York Comptroller Alan Hevesi, whose office oversees the New York State Common Retirement Fund. In exchange for the alleged kickbacks, Morris had the pension fund invest $100 million in the private equity firm.
Quandrangle was also involved in the distribution of a movie produced by the brother of David Loglisci, the former Common Retirement Fund chief investment officer, who pleaded guilty this week to involvement in the scam.
Morris has pleaded not guilty.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...