Financier Theodore Forstmann dies - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Financier Theodore Forstmann dies

Posted: Updated:

NEW YORK (AP) — Theodore J. Forstmann, a longtime financier who counted the iconic baseball card company Topps and business jet company Gulfstream Aerospace among his buyouts, died Sunday at the age of 71.

The cause was brain cancer, according to a statement from sports agency IMG. Forstmann was the chairman and CEO of IMG and was the senior founding partner of the investment firm Forstmann Little & Co. Forstmann Little bought IMG in 2004.

Forstmann Little, which was founded in 1978, also completed leveraged buyouts of companies including the cable TV technology company General Instrument, Yankee Candle, beverage company Dr. Pepper and Community Health Systems. Overall, the investment firm said, Forstmann made 31 acquisitions and returned more than $15 billion to investors over the last 33 years.

Forstmann was also a philanthropist with a focus on helping disadvantaged children throughout the world. He co-founded the Children's Scholarship Fund.

Copyright 2011 The Associated Press.

Powered by Frankly
All content © Copyright 2000 - 2018 KFMB-TV. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.