Quadrangle hires CFO

Quadrangle Group has hired Steven Davidson of Mourant to strengthen its internal infrastructure and financial administration activities.

New York-based investment firm Quadrangle Group has hired Steven Davidson, formerly a managing director at Mourant, as chief financial officer.

He will oversee financial administration, control and reporting across the firm, including its private equity and hedge fund partnerships and affiliated management companies – Quadrangle Capital Partners, Quadrangle Asset Management and Quadrangle Equity Investors. He will also work with senior management to devise financial strategies to enhance the firm’s profitability and growth, the firm said in a statement.

Davidson was previously a managing director at third party fund administrator Mourant. There he was responsible for opening the firm’s first US office and managing all aspects of its US business. Before joining Mourant, he was a vice president at BISYS Alternative Investment Services. Prior to that, he was a vice president at JPMorgan Private Bank.

Quadrangle has dramatically expanded its franchise this year. In January the firm appointed Kramer, formerly the head of Goldman Sachs’ Global Manager Strategies Group, to COO. He played an integral role in the launch of Quadrangle’s investment management business (QAM) in January.

In March, the firm hired former Gordon and Betty Moore Foundation chief investment officer Alice Ruth as a managing principal and chief investment officer for QAM, which handles asset allocation, manager selection, plan implementation and risk management for “founding investors” including long-time friend of the firm and billionaire New York mayor Michael Bloomberg.

Eight-year-old Quadrangle has $6 billion in assets under management. The firm invests in media and communications companies.