Forstmann Planning New Buyout Fund: Buyout strategist...
From Times Staff and Wire Reports
Forstmann Planning New Buyout Fund: Buyout strategist Theodore Forstmann is seeking investors for a $1.5-billion fund that would finance acquisitions of companies by using debt, a source knowledgeable about the proposal said. The source said Forstmann is planning to offer investors in his fund yields 1% above the interest rate on five-year Treasury bonds, which now yield about 8.5%. Forstmann is seeking about 20 institutional investors, according to the source, who spoke on condition of anonymity. A spokesman for Forstmann, John Scanlon, declined comment on the proposal.
