Quadrangle bulks up for global expansion

Quadrangle Group, a US buyout firm that specialises in the media and communications sectors, has boosted its senior management team as it plans to launch an ambitious global expansion programme.

The New York-based firm has hired Daniel Rosensweig from Yahoo to open and run another US office in Silicon Valley, while Edward Sippel joins from TVG Capital Partners ahead of the launch of a Hong Kong office next year. This follows the firm’s decision to set up its first European office, which opened in London in February this year, and will take its total number of offices to four.

Rosensweig, who joins as an operating principal, was previously the chief operating officer of Yahoo and has over 20 years experience in the sector. Before joining Yahoo, he was president of media group CNET Networks, where he took the company public and later merged it with rival ZDNet, and also spent 18 years with publishing group Ziff-Davis. He described his experience as helping “traditional media companies succeed on the Internet and new online business models become robust, sustainable franchises”. He will open the Silicon Valley office in September.

Sippel, who joins as a managing principal, will join Quadrangle’s New York office initially before launching the Hong Kong office in the second half of 2008. He was previously a partner and managing director at TVG, a TMT-specialist buyout firm with a particular focus on the Asian markets, where his role spanned deal sourcing, due diligence and portfolio management. He has also worked at the Asia Infrastructure Fund, a Hong Kong-based private equity firm.

Quadrangle managing principal Steven Rattner said the two hires would help his firm: “expand our capabilities and geographic footprint and add value to our investments.”
 
Both men will also join Quadrangle’s senior management team. Quadrangle Group manages $6 billion of assets across three core activities: distressed debt, public equities and private equity investment.