Theodore J. (“Ted”) Forstmann passed away on Sunday at the age of 71. Mr. Forstmann was a private equity legend, having co-founded the private equity firm Forstmann Little & Company over thirty years ago. Under his leadership the firm made 31 acquisitions and investments, returning over $15 billion to its in investors. One of his more lasting contributions to private equity lore, outside of his many high profile deals and turnarounds, was his coining of the phrase "Barbarians at the Gate."
Not only was he a legendary investor but he was also an extremely active philanthropist, with a focus on children and education. Mr. Forstmann co-founded the children's Scholarship Fund, was a director of the International Rescue Committee, and was a trustee of the Nelson Mandela Children's fund. In addition to these there were many more, including his most recent pledge to donate the majority of his wealth as part of The Giving Pledge. For a more complete description of his life and impact please click here