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239:. In 2002, the state of Connecticut sued Forstmann, Little & Company to recover $ 125 million in losses associated with investments in these two telecom companies, citing negligence and breach of contract. While Forstmann settled the case for $ 15 million, the suit was considered a landmark, launching a series of similar actions between private equity fund managers and public entity investors.
27:
186:. After the two had left, Ruttenberg suggested that Forstmann could do the same himself. Ruttenberg arranged funding for Forstmann, who launched Forstmann Little & Company in 1978. The company was founded by brothers Ted and
194:. With the deaths of Brian Little and Nicholas Forstmann in 2000 and 2001, respectively, Ted Forstmann was the chief partner. A third brother, J. Anthony Forstmann, is a limited partner in the firm.
228:. In the case of Gulfstream, Ted Forstmann took direct control of the financially ailing company's day-to-day operations to improve the company's attractiveness to a potential acquirer.
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Between its inception in 1978 to its 2014 closing, the firm made more than 30 acquisitions and significant investments returning over $ 14 billion in profit for its investors.
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135:(LBOs). At its peak in the late 1990s, Forstmann Little was among the largest private equity firms globally. Ultimately, the firm would suffer from the bursting of the
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220:. The company was usually successful in making a profit on such purchases, selling Gulfstream to
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In 2011, Theodore
Forstmann, the last surviving founder, died of brain cancer. The law firm
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505:"The Unwritable Memoirs of Teddy Forstmann: How the Billionaire Treated His Ghostwriters"
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311:. The last asset to be sold was 24 Hour Fitness, which was purchased for $ 2 billion by
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dissolved the firm by selling off its assets. IMG was sold in 2013 for $ 2.3 billion to
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147:, in 2011, the firm was dissolved and its assets sold off. It closed in May 2014.
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One prominent episode in the life of the company was the 1988 bidding war for
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258:. In the end, the board of directors chose Forstmann Little's arch-rival,
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619:"Forstmann Little Reaps $ 2.3B In Sale Of Talent Agency IMG - Law360"
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354:"Forstmann Little & Co.: Private Company Information - Bloomberg"
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16:
Defunct private equity firm, specializing in leveraged buyouts (LBOs)
483:"Forstmann Little closes in on $ 2bn sale of 24 Hour Fitness chain"
225:
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283:, of which Forstmann Little owns 27%, following a merger with
143:
companies. Following the death of the last surviving founder,
271:
Other headline transactions the firm participated in include
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644:"Forstmann Little Winds Down With 24 Hour Fitness Sale"
714:
445:"Nicholas C. Forstmann, 54, Buyout Firm Partner, Dies"
412:"Nicholas C. Forstmann, 54, Buyout Firm Partner, Dies"
587:"Forstmann Works Out Deal to Acquire 24 Hour Fitness"
528:
Litigation: A growing risk factor for private equity
1293:
Financial services companies disestablished in 2015
182:. Kravis and Kohlberg proposed what they called a
1288:Financial services companies established in 1978
1274:
530:, Private Equity Newsletter, September 18, 2007.
585:Peltz, James F.; Williams, Erica (2005-05-04).
380:Barbarians at the Gate: The Fall of RJR Nabisco
336:"Company Overview of Forstmann Little & Co"
265:Barbarians at the Gate: The Fall of RJR Nabisco
376:
700:
584:
231:The company has also had some flops, such as
1202:Private equity and venture capital investors
377:Burrough, Bryan; Helyar, John (2009-10-13).
291:in a $ 750 million deal, and in 2005 bought
287:in 2006. In 2004, Forstmann Little acquired
139:, having invested heavily in technology and
1308:2015 disestablishments in New York (state)
1237:
1217:
1174:Taxation of private equity and hedge funds
991:Private investment in public equity (PIPE)
707:
693:
681:(Archive of Company Website from May 2000)
1313:American companies disestablished in 2015
1298:Private equity firms of the United States
641:
554:"Forstmann Is Leader of the Pack at IMG"
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275:(1985), which resulted in the so-called
262:The episode was popularized in the book
1303:1978 establishments in New York (state)
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330:
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1283:American companies established in 1978
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246:. Forstmann Little offered to acquire
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170:. He arranged for Ruttenberg to meet
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325:
542:, New York Times, October 10, 2004.
383:. HarperCollins. pp. 239–240.
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443:Sorkin, Andrew Ross (2001-02-03).
410:Sorkin, Andrew Ross (2001-02-03).
305:Akin Gump Strauss Hauer & Feld
200:Successful acquisitions included
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260:Kohlberg Kravis Roberts & Co.
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552:Sandomir, Richard (2007-01-12).
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125:Forstmann, Little & Company
20:Forstmann, Little & Company
974:Publicly traded private equity
679:Forstmann Little & Company
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250:, but the management (chiefly
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1242:List of venture capital firms
642:Dezember, Ryan (2014-05-30).
481:Hammond, Ed (April 2, 2014).
318:
1222:List of private equity firms
979:Business Development Company
224:, and General Instrument to
137:internet and telecom bubbles
7:
10:
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1066:High-net-worth individuals
856:Leveraged recapitalization
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954:Limited liability company
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914:Venture capital financing
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861:Dividend recapitalization
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158:was a golfing partner of
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1021:Institutional investors
309:William Morris Endeavor
180:Kohlberg Kravis Roberts
1159:Liquidation preference
1124:Distribution waterfall
1076:Sovereign wealth funds
256:Shearson Lehman Hutton
1232:Venture capital firms
984:Venture capital trust
164:Deepdale Country Club
1212:Private equity firms
940:Private equity firms
889:Post-money valuation
766:Equity co-investment
281:Citadel Broadcasting
202:Gulfstream Aerospace
1262:Portfolio companies
1179:Undercapitalization
1031:Insurance companies
949:Limited partnership
894:Pre-money valuation
648:Wall Street Journal
540:Goodbye to all that
295:for $ 1.6 billion.
206:Topps Playing Cards
129:private equity firm
21:
1114:Capital commitment
884:Business incubator
851:Buy–sell agreement
558:The New York Times
449:The New York Times
416:The New York Times
340:Bloomberg Business
218:General Instrument
145:Theodore Forstmann
141:telecommunications
131:, specializing in
99:New York, New York
19:
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1119:Capital structure
1004:
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846:Divisional buyout
841:Management buyout
836:Financial sponsor
591:Los Angeles Times
390:978-0-06-180403-8
358:www.bloomberg.com
237:XO Communications
160:Derald Ruttenberg
133:leveraged buyouts
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38:Private ownership
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254:) instead chose
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127:was an American
113:Leveraged buyout
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1184:Vintage year
1109:Capital call
1081:Crowdfunding
1016:Corporations
919:Venture debt
659:. Retrieved
647:
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602:. Retrieved
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361:. Retrieved
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196:
192:Brian Little
172:Henry Kravis
154:
124:
123:
95:Headquarters
74:Brian Little
34:Company type
1046:Foundations
969:Pledge fund
761:Secondaries
299:Dissolution
277:Revlon Duty
248:RJR Nabisco
244:RJR Nabisco
168:Long Island
1277:Categories
1134:Envy ratio
1041:Endowments
904:Seed money
818:Terms and
661:2017-07-14
628:2017-07-14
604:2017-07-14
571:2017-07-14
514:2017-07-14
462:2021-10-15
429:2017-07-14
396:2013-10-29
363:2017-07-14
319:References
1104:Cap table
1009:Investors
933:Structure
751:Mezzanine
739:Leveraged
656:0099-9660
599:0458-3035
566:0362-4331
457:0362-4331
424:0362-4331
285:ABC Radio
233:McLeodUSA
214:Stanadyne
210:Dr Pepper
1154:Leverage
1090:Related
820:concepts
509:The Hive
226:Motorola
109:Products
44:Industry
1164:M&A
871:Venture
776:History
746:Venture
162:at the
151:History
85: (
80:Defunct
62:Founder
54:Founded
1129:EBITDA
828:Buyout
756:Growth
734:Buyout
654:
597:
564:
455:
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387:
279:, and
273:Revlon
216:, and
190:, and
944:funds
809:2020s
804:2010s
799:2000s
794:1990s
789:1980s
996:SPAC
942:and
899:SAFE
718:and
652:ISSN
595:ISSN
562:ISSN
453:ISSN
420:ISSN
385:ISBN
235:and
174:and
87:2015
83:2015
72:and
68:and
57:1978
1169:PME
1149:IRR
1144:IPO
1099:AUM
289:IMG
166:on
66:Ted
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
