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(New York Times) — Steven L. Rattner, the financier under increasing scrutiny in a state and federal kickbacks investigation, is playing a key role in creating a new investment firm that will manage Mayor Michael R. Bloomberg’s fortune and finance his philanthropic foundation, according to three people told of the arrangement.

At Mr. Bloomberg’s urging, Mr. Rattner has taken a hands-on approach in helping to build the new company, despite his legal problems, these people said, speaking on condition of anonymity for fear of angering the mayor and Mr. Rattner.

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