Fund launches & closures Hedge Funds

Quadrangle to close media-focused equity fund

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Steven Rattner’s Quadrangle Group plans to wind down its Quandrangle Equity Investors fund after experiencing a loss of about 25% this year. The long/short equity fund invests primarily in public media and communications companies.

Quadrangle Equity is managed by Robert Donohue, who founded the fund as Harpoon Equity Management in 2004 before transferring it to Rattner’s company in 2006 and renaming it. At its peak, Quadrangle Equity controlled $500 million.

Quadrangle Group manages $3 billion and holds stakes in a number of media properties. In addition to Quadrangle Equity, the firm also operates Quadrangle Capital Partners, a private