Steve Rattner's Quadrangle To Shut Down, Reinvent Itself Under A Name Not Associated Fraud Allegations

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What? It could work.

Quadrangle Group, the media-focused private equity outfit founded by former car czar Steve Rattner, is winding down, The Post has learned. Sources familiar with the firm's plans, which have been in the works since the end of the summer, said Quadrangle will cease to exist in its current form as it tries to reinvent itself under a new name in the coming weeks...The new entity likely will be more focused on managing client assets in the near-term, one source said. Another person familiar with the firm's plans said it was going through a transition and that it "wants to change its skill-set." [NYP via DI]

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