If Rattner Is Dismissed As Car Czar... Will He Go Back To Quadrangle?
Update: The deadline for LPs to decide whether they will terminate their investment in Quadrangle due to Rattner's departure is one week from today, peHUB has learned. Plenty of people are wondering if Steve Rattner's involvement in the NY State Common kickback scandal will lose him his job as President Obama's top auto industry advisor. It seems obvious that he'd be shown the door, even if he told the U.S. Treasury about the investigation before Obama took office. It raises the question: Will he go back to Quadrangle? The firm recently put its fundraising on hold because of his departure. Meanwhile, he triggered a key man provision on older funds when he left (including Quadrangle Capital Partners II, the one under indictment). That key man provision requires a vote which had a deadline of April 24, a source said. LPs will be
