Alternative asset management firm Quadrangle Group has appointed Alice Ruth as a managing principal and chief investment officer of Quadrangle Asset Management.

Ruth most recently served as CIO of the Gordon and Betty Moore Foundation, where she oversaw the management of a $6 billion investment portfolio. Prior to that, she was senior managing director, co-director equity research at Banc of America Securities/Montgomery Securities.

“Her extensive investment management experience and track record in managing and launching new investment strategies make her ideally suited to lead QAM,” Steven Rattner, a managing principal at Quadrangle, said. “We are confident that Alice will be highly effective in growing this new business and that she will provide compelling investment ideas within QAM's mandate.”

Quadrangle Group was founded in March 2000 and manages over $6 billion in private equity and hedge fund assets.