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Forstmann was born and raised in Greenwich, Connecticut, the second of six children. He was the son of Dorothy (née Mercadante) and Julius Forstmann, who ran a wool business that went bankrupt in 1958. [4] Julius had inherited Forstmann Woolen Co. from his own father, one of the richest American businessmen. [5]
Forstmann and the late John Walton met as donors to the Washington Scholarship Fund (WSF), founded in 1993 to provide scholarships for low-income families in Washington D.C. When more than 8,000 applications applied to WSF for the 1998-99 school year the two men realized there was substantial demand among poorer families for alternatives to the ...
Forstmann-Leff "outperformed all of the firms monitored by Investment Manager Profiles in the Balanced Account category." [3] Forstmann continued as managing director of Forstmann-Leff until 1991. Forstmann's brother Ted also worked at Forstmann-Leff as council until he left to found Forstmann Little & Co. with another brother Nick. Joel Leff ...
On Monday, global sports and media behemoth IMG announced the death of its chairman and CEO, Theodore J. "Ted" Forstmann, from brain cancer. Forstmann, born in 1940, was a former investment banker ...
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Ruttenberg arranged funding for Forstmann, who launched Forstmann Little & Company in 1978. [3] The company was founded by brothers Ted and Nick Forstmann, and Brian Little. [4] With the deaths of Brian Little and Nicholas Forstmann in 2000 and 2001, [5] respectively, Ted Forstmann was the chief partner. A third brother, J. Anthony Forstmann ...
Ted Forstmann and his Forstmann Little buyout firm also played a prominent role. After Kravis and Johnson were unable to reconcile their differences, a bidding war took place which Johnson would eventually lose. The side effect of the augmented buyout price to the shareholders was the creation of a high level of debt for the company.