Media Hedge Fund to Close Citing Losses of 25 Percent

quad11.13.08.jpgQuadrangle Equity Investors, the media hedge fund of Quadrangle Group LLC, will close at the end of the year. The fund, which invests in media and communications stock, has lost more than 25 percent of its $500 million in assets.

While the parent company, founded by former The New York Times reporter Steven Rattner in 2000, boasted good returns, the hedge fund couldn’t keep pace in the tough environment.