New York City Mayor Michael Bloomberg is pulling roughly $5 billion of personal assets from Quadrangle Group's asset-management arm, according to people familiar with the situation.
The move deals a blow to the New York private-equity and investment firm, which has had to deal with the departure of its co-founder Steven Rattner and an investigation by the New York state attorney general into how Quadrangle secured an investment from New York state's pension fund.
Saturday, February 20, 2010
New York's Bloomberg Pulls $5 Billion From Quadrangle
The Wall Street Journal reports:
