J. Anthony Forstmann
| J. Anthony Forstmann | |
|---|---|
 | |
| Born |
Julius Anthony Forstmann February 13, 1940 Manhattan, U.S. |
| Nationality | American |
| Other names | Tony Forstmann |
| Alma mater |
Yale University Columbia Business School |
| Occupation | Private Equity Investor |
| Known for | Founder of Forstmann-Leff & Associates, Founder of Forstmann Little & Co. |
Julius Anthony "Tony" Forstmann (born 1940) is one of the founding partners of Forstmann-Leff & Associates, one of the first hedge funds in the United States, along with Joel B. Leff. He is the founder of Forstmann and Co., a merchant bank.
Early life
Forstmann was born in Manhattan and raised in Greenwich, Connecticut, first born of six children to Dorothy (née Mercadante) and Julius Forstmann[1] who were of Italian and German descent, respectively. Julius had inherited Forstmann Woolen Co., from his father who was one of the richest men in the world at the time.[2] Forstmann graduated from Greenwich Country Day School, Phillips Academy, Yale University, and Columbia Business School.
Career
Forstmann-Leff
Forstmann-Leff & Associates was founded in 1967 as a private incentive investment management organization by J. Anthony Forstmann and Joel B. Leff with the specific objective of managing money intensively for an above-average rate of return. They served as investment advisers to pension funds and were one of the original hedge funds in the US.[3] By 1985 the firm had grown to $5 Billion under management. The firm's clients included Intel, Pfizer, Standard Oil of Indiana, The Pension Guarantee Corp. The Ford Family, Northrop, Honeywell, Lockheed, Northwest Airlines, Knight Ridder, Delta Air Lines, Texas Instruments, Raychem, Studebaker, Chrysler, Commercial Credit, Primerica, MCA Universal, the City of New York, the State of Minnesota, the State of Maine, Holy Cross University, and the Archdiocese of New York. Forstmann-Leff & Associates achieved an average compounded yearly gain of 22 per cent on the investment partnerships.[4] Forstmann-Leff "outperformed all of the firms monitored by Investment Manager Profiles in the Balanced Account category." [5]
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 and Tony Forstmann were part of the original investors of Forstmann Little & Co.
"Forstmann-Leff Associates was one of the nation's most prosperous investment firms, with a consistent, long term performance record that is matched by few other managers" [6]
Forstmann was a founding partner and investor in Instinet, the first electronic trading platform.
Forstmann Little & Co.
Forstmann was an original investor in Forstmann Little & Company in 1975 with his two brothers, Theodore J Forstmann (Ted) and Nicholas C Forstmann (Nick). At its peak, the company was one of the largest private equity firms globally and specialized in leveraged buyouts. He remains a limited partner and a special limited partner.
Forstmann & Co.
In 1987 he founded Forstmann & Co to create a merchant banking platform. Prior to founding Forstmann-Leff & Associates, Forstmann held various positions within the investment banking firms of G. H. Walker & Co, Wertheim, and Smith Barney & Co. Forstmann & Co was founder of, or original investor in:
| Company | Description | Public/Private |
|---|---|---|
| Forstmann-Leff & Associates | An institutional wealth management firm with $6 billion under management | Private |
| Forstmann Little & Co. | Leverage Buyout firm | Private |
| Forstmann and Co. | Merchant Bank | Private |
| Instinet | One of the first electronic trading platforms | Nasdaq |
| Biotherapeutics | A medical company specializing in monoconal antibody cancer research | Nasdaq |
| Axiom | Operating Systems for Laboratories | Nasdaq |
| ITI | First Operator Toll Center w/ MCI | Nasdaq |
| Spear Securities | First online retail equity brokerage firm | Nasdaq |
| Hunter Environmental | Toxic Waste Storage in Salt Domes | Nasdaq |
| NRI-Cogent | Leading Provider of AFIS Products | Private |
| Gotham Analytics | Security Systems | Private |
Director
| Company | Description | Public/Private |
|---|---|---|
| Pullham Companies | Major industrial conglomerate | NYSE |
| Home Shopping Network | The first cable TV shopping network | NYSE |
| Community Health Services | The largest rural hospital network | NYSE |
| ABC Citadel Broadcasting | Major radio broadcaster | NYSE |
Civic life
Forstmann is currently on the Leadership Council of the Yale School of Public Health.
In 1985, Forstmann started The Huggy Bear tennis tournament in Southampton, NY which evolved over 22 years into a major fund raising event for children's charities. Forstmann's brothers Ted and Nick joined forces in 1989 and the tournament ran for 22 years, raising millions of dollars for children globally.[7]
Personal life
Forstmann has six children. He is married to Cathie Shirriff Forstmann and they have one daughter. Forstmann is an avid golfer, and has played in several major tournaments worldwide.
See also
References
- ↑ "Forstmann, The Big-Hearted Prodigy". The American Spectator. Retrieved 19 June 2015.
- ↑ "Teddy Forstmann's money troubles - Forstmann's 4-year court struggle". New York. Retrieved 19 June 2015.
- ↑ "The Pittsburgh Press - Google News Archive Search". Pittsburgh Press. Retrieved 19 June 2015.
- ↑ Institutional Investor, February 1974
- ↑ Pensions and Investments October, 1977
- ↑ Institutional Investor, July 1982
- ↑ "USTA Serves Revives Pro-Am Tennis in the Hamptons". Hamptons-magazine.com. Retrieved 7 October 2014.