Forstmann Dies At 71

Nov 21 2011 | 8:08pm ET

Private equity pioneer Theodore Forstmann has died at the age of 71.

Forstmann, who founded Forstmann Little & Co. in 1978, had been diagnosed with brain cancer earlier this year. The billionaire died at his home in Manhattan.

Forstmann is credited with dubbing himself and his leveraged buyout colleagues “the barbarians at the gate,” helping create the popular image of the corporate raider. Barbarian though he may have been, he was a very successful one, leading the buyouts of such industry icons as General Instrument, Gulfstream Aerospace and Dr Pepper. His coinage later became the title of a book about a buyout he lost out on, that of RJR Nabisco, to Kohlberg Kravis Roberts.

A native of Greenwich, Conn., Forstmann studied at Yale University and Columbia Law School. During his first two decades in private equity, he managed a 55% annualized return.

Forstmann never married—although he dated such luminaries as Princess Diana and Padma Lakshmi—but did become the legal guardian of two children from South Africa. He is also survived by two brothers and two sisters.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.