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Quadrangle Group Closes Private Equity Fund
New York, NY, July 24, 2001 – Quadrangle Group LLC today announced the final closing of Quadrangle Capital Partners LP, a media and communications private equity fund, with $1.08 billion in committed capital.
Quadrangle Capital Partners LP expects to invest in approximately 20 companies over the life of the fund. The Fund will invest in traditional leveraged buyouts and growth companies in both the content and distribution areas of the media and communications industries. Investors in the Fund include a broad range of leading institutions, including public and private pension plans, financial institutions, funds of funds, endowments and foundations, and a wide variety of current and former senior executives of leading companies within the sectors targeted by the Fund.
Quadrangle Group LLC is an investment firm specializing in the media and communications industries. Steven Rattner, David Tanner, Peter Ezersky and Joshua Steiner, former Managing Directors of Lazard Frères & Co. LLC, who have more than 50 years of combined experience in private equity and in media and communications, founded Quadrangle in March 2000.
The managing principals of Quadrangle said, “The final closing of our Fund marks an important milestone for Quadrangle Group. We are extremely pleased to have raised capital in excess of our $1 billion target, and we are grateful for the positive feedback and support we have received from our investors and partners. We continue to believe that the media and communications industry not only offers some of the best investment prospects today but also will grow faster than the economy as a whole over the next five to ten years. With our Fund closed, we are even more confident that we are well positioned to find and invest in unique business opportunities with significant growth prospects in this dynamic sector.”
To date, the Firm has invested $110 million in three companies: Access Spectrum LLC, a provider of spectrum to commercial wireless users, Pathfire Inc., the maker of a platform for digital-media management, and Publishing Group of America Inc., a publisher of a weekly magazine insert for community newspapers.
The firm’s industry Advisory Board includes Marc Andreessen, Co-Founder and Chairman of Loudcloud, Inc. and Cofounder of Netscape; Barry Diller, Chairman and Chief Executive Officer of USA Networks Inc.; Rob Glaser, Founder and CEO of RealNetworks, Inc.; Amos Hostetter, Founder and former Chairman and Chief Executive Officer of Continental Cablevision Inc.; Craig McCaw, Chairman of Eagle River (principal shareholder of Nextel, Nextlink and Teledesic); and Brian Roberts, President of Comcast Corporation.
Monument Group assisted in the private placement of the limited partnership interests.
Adam Miller/Amanda Macdonald
The Abernathy MacGregor Group
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