Quadrangle Investors Stalwart Amid Agent Fee Probe

Law360, New York (April 27, 2009, 12:00 AM EDT) -- Investors in Quadrangle Group LLC have voted to continue capital commitments to the private equity firm despite New York Comptroller William C. Thompson Jr.'s recent decision to pull more than $125 million of the city's pension investments from the firm, which is being targeted in a widening probe over placement agent fees.

Thompson's office issued a strong statement condemning the investors' vote, which took place Friday over the comptroller's objections and pleas with Quadrangle to extend the deadline for the vote.

Thompson had sought more time...
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