Stephen Rattner

Stephen Rattner is an American investment banker, private equity investor, and former journalist who served as lead advisor to the Auto Industry Financing Program during the 2009 financial crisis. He founded the Quadrangle Group and has written for outlets including The New York Times and The New Yorker, while also appearing on MSNBC and CNBC. Rattner's career spans roles linking Wall Street firms, Brookings Institution-adjacent policy debates, and federal bailout implementation during the Barack Obama administration.

Early life and education

Rattner was born in Great Falls, Virginia, raised in a family connected to the Washington, D.C., region and attended Phillips Exeter Academy before matriculating at Brown University and later earning an MBA from Columbia Business School. During his student years he engaged with networks tied to New York City finance and cultural institutions such as the Metropolitan Museum of Art and the Museum of Modern Art. His early mentors and contemporaries included figures with ties to Goldman Sachs, Morgan Stanley, and the emerging private equity community of the late 1970s and early 1980s.

Finance career

Rattner began his finance career at Lehman Brothers and later moved to Credit Suisse First Boston, where he worked on media and cable deals alongside executives from Time Warner, Viacom, and News Corporation. He co-founded the Quadrangle Group in 1998, focusing on investments in media and communications assets, and managed funds that invested in companies connected to Comcast, Disney, CBS Corporation, and Providence Equity Partners-style transactions. Rattner's deal experience involved interactions with private equity firms such as The Carlyle Group, KKR, and Bain Capital, as well as strategic buyers like Apple Inc., Microsoft, and Amazon. His work also intersected with regulatory and policy actors including the Securities and Exchange Commission, state attorneys general offices, and municipal pension funds tied to cities like New York City and Chicago.

Role in the Obama administration

In 2009 Rattner was nominated by President Barack Obama to serve as lead advisor to the Auto Industry Financing Program (commonly called "car czar") overseeing restructuring efforts for General Motors, Chrysler, and suppliers such as Delphi Corporation and Johnson Controls. His tenure required coordination with the U.S. Treasury Department, led by Timothy Geithner, congressional committees including the Senate Banking Committee and the House Financial Services Committee, and labor leaders from United Auto Workers and executives from Fiat S.p.A.. Rattner worked alongside bankruptcy judges in Detroit and negotiated with bondholders, hedge funds like Elliott Management Corporation and Appaloosa Management, and multinational OEM partners, resulting in recapitalizations, government equity stakes, and sales that reshaped ties among Volkswagen AG, Toyota Motor Corporation, and Ford Motor Company within the global automotive supply chain.

Later career and media work

After leaving the administration, Rattner returned to private investing and advisory roles that involved partnerships and disputes with firms such as BlackRock, Apollo Global Management, and Cerberus Capital Management. He authored commentary for The New York Times, provided analysis on programs at CNBC and MSNBC, and wrote long-form pieces for The New Yorker and Vanity Fair on topics touching on Wall Street culture, automotive policy, and urban development in cities like New York City and Detroit. Rattner has served on boards and councils associated with cultural and philanthropic institutions including the Metropolitan Museum of Art, Lincoln Center, and educational entities tied to Brown University and Columbia University.

Personal life

Rattner is married to Helen C. F. Rattner and has been involved in philanthropic efforts and political fundraising for figures including Barack Obama, Hillary Clinton, and Joe Biden. He has donated to cultural institutions such as the Whitney Museum of American Art and engaged with civic initiatives in New York City and Washington, D.C.. Rattner's family connections and social circles have included business leaders, media executives, and donors active in national policy debates tied to financial regulation and urban revitalization.

Category:1952 births Category:American investors Category:Living people