Quadrangle Investors to Decide Future Commitments Today


Investors for Steve Rattner’s Quadrangle private-equity firm will vote today whether to uphold their commitments for future investments. Since Rattner left the company to be President Obama’s “car czar,” and the company has been examined regarding exorbitant “placement fees” to agents for state pension funds, its future has been called into doubt. If these investors back out, the fees the group will collect next year will fall to $19 million, from $35 million. [DealBook/NYT]