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Brown alum settles dispute with NY pension fund

January 3, 2011

Steven Rattner, a Brown alum and a member of the University’s governing board has agreed to pay $10 million and accept a five-year ban on doing business with the New York Pension Fund.

The settlement ends an investigation by New York’s Attorney General into an alleged kickback scheme involving Rattner and his former firm, the Quadrangle Group.

A spokesman tells the Bloomberg News Agency that Rattner has not admitted any liability as part of the settlement.

Rattner was the architect of the Obama Administration’s auto industry bailout. He briefly chaired the Brown Corporation’s investment Committee, and Brown has investments with Quadrangle Group, a private equity firm which he co-founded.

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