Theodore Forstmann Runs the Buyout Firm Forstmann Little

Financial World
The Wall Street 100
By Stephen Taub, David Carey, Richard Coletti, Tom Bancroft
July 11, 1989
Page 38

No. 16 Theodore Forstmann
$35 million

Through Forstmann Little collects 1.5% in fees for such deals as the $388 million Pullman acquisition and 20% of profits from the $550 million sale of Singer Seating. Has handled 14 LBOs in 11 years. A Yale all-American hockey goalie and Afghan rebel supporter, Forstmann, 49, funded Jack Kemp.

Financial World
The Wall Street 100
By Stephen Taub, David Carey, Amy Barrett, Richard J. Coletti and Jackie Gold
July 10, 1990
Page 62

Source: Financial World, July 10, 1990
Photograph by: Ken KerbsNo. 29 Theodore Forstmann

At least $20 million
Two years ago Forstmann woke up in a cold sweat. He had just dreamt that the New York City skyline exploded into flames as investment bankers summered nonchalantly in East Hampton. Forstmann decided the dream was an omen of financial ruin. That's the moment he began his crusade against junk bonds and archrival KKR. His forswearing of junk funding apparently had done him no harm. Last year, he made his money from management fees and by partially cashing out of Topps again. Forstmann's upper-class upbringing by an angry alcoholic father and an ambitious Italian mother who pushed Forstmann to excel on the tennis court is well chronicled. So are his exploits as Yale hockey goalies and reluctant Harvard law student. Less widely known are the hours spent at a small investment firm beside his nemesis, Henry Kravis. Or that he squired fashion designer Carolyne Roehm and was an usher at her first wedding before she married Kravis. Forstmann's sumptuous Fifth Avenue apartment is decorated with paintings by Picasso, Matisse, Rouault and Soutine. His former neighbors were Greta Garbo and Rex Harrison. Other trimmings for Forstmann: a South Hampton beach-house with tennis court, an Aspen ski lodge and a Gulfstream II jet with gold-plated bathroom fixtures that is kept standing by at all times. He also frequently travels in plush liquor and TV stocked helicopters. In his spare times, he has bankrolled an Afghan rebel group and is a Republican Party fundraiser of national repute. He gave $100,000 to the Bush campaign in 1988 and was one of six Covenant House directors who resigned recently due to the sex and financial misconduct row involving Father Bruce Ritter. A "big brother" for 13 years, Forstmann, 50, annually hosts a celebrity tennis tournament that raises $500,000 for charities. He is a backer of the National Center for Children with Learning Disabilities and is a big donor to the New York archdiocese's inner city school program.

Financial World
The Wall Street 100
By Stephen Taub and David Carey with Alison M. Smith
July 21, 1992
Page 50

No. 59 Theodore Forstmann
Forstmann Little
$7 million to $9 million

When Ted Forstmann backs a horse it usually wins. That's an unsettling thought to some, since he's currently backing Ross Perot, serving on the billionaire's campaign committee. He's also a champion investor on Wall Street. By forswearing junk financing while paying sane prices for reliable cash generators like Dr Pepper, Topps and Moet, Forstmann Little's $800 million equity LBO fund has registered a phenomenal 86% average yearly return, more than double of archrival KKR. Forstmann has busied himself lately cashing in gains, unloading stakes in FL Industries and taking General Instrument public. But that all happened this year. In 1991, he bided his time, gathering management fees while his holdings soared in value. Just now Forstmann, 52, has set his sights on companies growing faster than the economy.

Financial World
The Wall Street 100
By Stephen Taub, Nanette Byrnes, and David Carey
July 6, 1993
Page 41

No. 18 Theodore Forstmann
Forstmann Little & Co.
At least $22 million

A man who vents his opinions vociferously, nurses grudges obsessively and pursues pet causes passionately, Teddy Forstmann is throwing his energies these days into Bosnia. Late last year the LBO maven donated $1 million to the International Rescue Committee's program to ease the plight of refugees in the war-ravaged state, drummed up another $1.4 million from others, bought around 120 tons of supplies and led a convoy of trucks into the besieged city of Mostar to deliver them. On the domestic front, this lifelong Republican flirted briefly with Ross Perot before turning up as a cochairman of George Bush's reelection committee weeks before Bush's defeat. He has also lent his voice and pen [in a lengthy New York Times op-ed piece] to the cause of capital gains indexation. This year Forstmann is bankrolling [and chairing] a new group called Empower America to promote conservative political ideas. It is connected to Jack Kemp and Jeanne Kirkpatrick.

Meanwhile, his New York City buyout firm raked in a fat profit by selling FL Industries to Thomas & Betts for cash and stock - then unloading the Thomas & Betts shares it received in the sale. In addition Forstmann cashed in 539,085 Topps shares for an $8.3 million personal gain. But the psychic and monetary rewards of deal making have begun to pall on Forstmann. The 53-year-old bachelor now reportedly spends much of the year at his canyon home in Beverly Hills, Cal - playing tennis.

Financial World
The Wall Street 100
Compensation was way down in 1994 for Wall Streets highest earners
By Stephen Taub, David Carey, and Joseph Epstein
July 4, 1995
Page 44

No. 12 Theodore Forstmann
Forstmann Little
At least $29 million

What a year for Teddy Forstmann. For one thing, he outearned archrival Henry Kravis by a factor of more than three. He was also all over the gossip columns, which tracked his progress as he schussed down the Colorado ski slopes and squired Princess Di around the Big Apple. The two met at a 1993 Independence Day dinner party hosted by Jacob Rothschild in England. But Forstmann, at 55 still one of Wall Streets most eligible bachelors, denies any romantic involvement with her.

Teddys firm, Forstmann Little, also had a busy year in 1994. Forstmann picked up much of his $29 million when shares in Department 56. There were two notable new deals as well. The firm recently completed the $1.4 billion purchase of the Ziff-Davis computer magazine empire, which includes PC Magazine, one of the worlds largest computer publications, and Computer Shopper. Last fall, FL also bought the Thompson-Minwax line of paint and wood-care products for $700 million.

Teaming up with actor Paul Newman and retired General Norman Schwarzkopf, Forstmann donated $1 million and Camp, which will be a year-round, 232-acre camp for children with cancer, diabetes and terminal illnesses in central Florida. Boggy Creek is set to open in the summer of 1996. Forstmann also personally gathered and distributed relief supplies to Bosnian refugees.

Financial World
The Wall Street 100
By David Carey and Stephen Taub
October 21, 1996
Page 59

No. 14 Theodore Forstmann
Forstmann Little
At least $54 million

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