Cuomo targets Rattner: Quadrangle settles pension case for $12M

The New York Post reports:

The Quadrangle Group yesterday agreed to cough up $12 million and publicly denounce one of its founders, Bloomberg pal and former car czar Steven Rattner, ending two damaging probes into its New York pension fund deals.

The concessions allow the embattled investment firm to escape further scrutiny as part of Attorney General Andrew Cuomo's years-long investigation into whether state retirement-fund officials and their cronies illegally profited by steering billions in fund investments to favored firms.

Quadrangle promised to "fully cooperate" with investigators and blasted the tactics that Rattner used to secure a $150-million pension deal.