Quadrangle agrees to settle pension fund case

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Private-equity firm Quadrangle Group LLC has settled with New York Attorney General Andrew Cuomo’s office and the Securities & Exchange Commission in the ongoing “pay to play” investigation involving New York’s largest pension fund.

Quadrangle agreed to pay $7 million to New York state and fully cooperate with the government’s ongoing investigations, Mr. Cuomo said. Quadrangle said in a statement that it also settled an SEC suit over its involvement in the scandal at the New York State Common Retirement Fund.

Full story: Quadrangle Agrees to Settle Pension Fund Case – WSJ.com