vernorship and has a large lead in polls over prospective rivals. Cuomo and DiNapoli are Democrats.
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QUADRANGLE
my blog , RATTNER
Investigators alleged that Quadrangle won a $100 million investment from the pension fund by engaging in improper "quid pro quo" arrangements.
They said this involved agreements to pay more than $1 million of "finder" fees to Henry "Hank" Morris, a former top adviser to Hevesi, and distribute a DVD of the film "Chooch
my blog ," produced by former Common Retirement Fund chief investment officer David Loglisci.
Quadrangle, in a statement released by Cuomo
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The New York-based firm is paying $7 million to New York State and $5 million in a related settlement with the U.S. Securities and Exchange Commission. It also agreed to cooperate with Cuomo's investigation of Rattner and others.
Quadrangle did not admit wrongdoing in agreeing to settle. In a joint statement with Cuomo, it said the principals involved in the alleged improper conduct have left the firm.
A spokesman for Rattner was not immediately available for a comment. Rattner has retained a lawyer, Cuomo said.
"Today's action is yet more evidence that kickbacks and corruption contaminated the Retirement Fund," Robert Khuzami, director of the SEC enforcement division, said in a statement. "The victims were New York State's hard-working retirees, who were entitled to have honest advisers manage their hard-earned dollars."
The 57-year-old Rattner, a former New York Times reporter, quit Quadrangle in 2009 to run U.S. President Barack Obama's auto bailout task force, causing the firm to put plans to raise a new private equity fund on hold.
Having settled with Cuomo, Quadrangle plans to meet with investors in the coming months to lay the groundwork for perhaps raising a third fund
my blog , a person familiar with the matter said. [ID:nWEN2784]. The person requested anonymity because the plans are not public.
Loglisci in March pleaded guilty to helping favored firms gain access to the Common Retirement Fund. He and Morris were charged in March 2009 in a 123-count indictment.
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