BANKING & FINANCE - June 27, 1995
<i> Times Staff and Wire Reports</i>
Forstmann Little Raises Money for Purchases: The 17-year-old private investment firm said it raised $1.9 billion to finance acquisitions, reflecting this year’s record pace for buying companies. New York-based Forstmann Little & Co., led by Theodore J. Forstmann, raised two funds from institutions since January--one that purchases the stock and the other that buys the junior debt to pay for acquisitions, sources said. Forstmann raised the money because he depleted his funds in the $1.4-billion purchase in December of Ziff-Davis Publishing Co., the biggest publisher of computer magazines and the fourth-largest magazine publisher in the United States.
