Friday, 29 August 2014
Last updated 25 min ago
Nov 28 2011 | 10:15am ET
Hedge fund legend Julian Robertson has taken the helm at the late Theodore Forstmann`s private equity firm, Forstmann Little & Co.
The 79-year-old Robertson, whose Tiger Management Corp. was one of the world`s largest hedge funds, became chairman of Forstmann Little on November 23, according to a statement from the buyout company. Forstmann died on November 20 of brain cancer.
In his new role, Robertson will advise Forstmann Little, which has largely wound down its operations, on its three remaining portfolio companies: IMG, the sports, fashion and media company; 24 Hour Fitness, a health club chain; and ENK International, a fashion-industry trade-show business.
Forstmann’s fund formally expires on June 30, 2012, and it is legally required to sell the assets and return the proceeds to its LPs by then, but Dealbook reports the firm has been discussing extending the deadline with its investors.
Robertson established Tiger in 1980 with $8 billion and saw assets peak at $22 billion in 1998. The fund delivered average annual returns of 30%. Robertson is equally well known for having launched the careers of star managers like Lee Ainslie of Maverick Capital and Stephen Mandel of Lone Pine and for seeding the so-called 'tiger cubs.'
Forstmann was a leveraged-buyout pioneer, famous for his takeovers of companies like Dr. Pepper and Gulfstream Aerospace. He is also credited with coining the term, "barbarians at the gate," for the buyout industry.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...