Ted Forstmann, a longtime Wall Street financier and philanthropist who was a major player during the wave of corporate takeovers in the 1980s, including the battle for RJR Nabisco in 1988, died Sunday. He was 71.
The cause was brain cancer, according to a statement from sports marketing giant IMG, where Forstmann served as chairman and chief executive. He was the senior founding partner of the investment firm Forstmann Little & Co.
Forstmann Little, which was founded in 1978, completed leveraged buyouts of companies including Dr. Pepper, Yankee Candle, Community Health Systems and the cable TV technology company General Instrument.
In the 1980s, the firm had become...