AVCJ

Sippel and team to leave Quadrangle

  • Paul Mackintosh
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Following developments in the US around Quadrangle Group, which now has reportedly decided against raising a new fund in 2011, Ed Sippel, Managing Principal with the firm's Hong Kong office, has decided to leave the firm.

"As a result of Quadrangle’s change of focus, I confirm I’ll be transitioning out of the firm in 2011," Sippel told AVCJ. Sippel also confirmed that he will continue to be involved with the running of Quadrangle's recent major Indian investment, cellular tower management company Tower Vision India, and will retain his seat on that company's board.

Although Sippel's future plans and the prospects for the Quadrangle investment team in Hong Kong - the firm's only office other than its New York headquarters - remain unclear, sources close to the group indicate that the Asian team may stay together as an investment unit, possibly in partnership with other entities.

Quadrangle in the US recently settled investigations with the the Offices of the New York Attorney General and the US Securities and Exchange Commission over pension fund investments in New York, related to former Quadrangle co-founder Steven Rattner.

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