New York-based Quadrangle Group announced that Michael Huber and Christopher Santana have been promoted to managing principals.
The promotions have been effective since the beginning of 2004.
Huber joined Quadrangle as vice president in June 2000 with a background in the media and communications industry. Previously, he had serviced as vice president in the media and communications group at Lazard, where he focused on the cable, Internet, broadcasting and marketing services sectors.
Santana arrived at Quadrangle as vice president in March 2002. He specializes in distressed debt and will continue to work for the Quadrangle Debt Recovery investment program. Before Quadrangle, Santana was a vice president at Lazard and the head trader of the Lazard Debt Recovery Funds.
In addition to Huber and Santana, Quadrangle also promoted Henry Ormond and TJ Vigliotta to vice presidents.
Quadrangle Group controls the $1.1 billion private equity fund Quadrangle Capital Partners, which closed in June 2001 and exceeded the firm’s original $1 billion target. The firm specializes in media and communications companies. Quadrangle also controls the $1 billion Quadrangle Debt Recovery investment program that invests in financially troubled companies across industry groups.
Quadrangle was founded in March 2000 by a defection of former managing directors of Lazard Freres & Co. In May 2002, tensions between the firms heated up again when Lazard sued two former managers of its distressed debt fund, claiming they had breached fiduciary duties and acted in bad faith by “scheming” to transfer the fund and its investors to Quadrangle.