Rattner, N.Y. Attorney General Talk Pay-To-Play Settlement

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.

In Depth

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel Supports Manhattan Real Estate With Record Deal

Sep 16 2015 | 3:04pm ET

Never count hedge funds out of a big property deal. The Manhattan real estate market...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note

Upcoming Events