FoirstmannLeff Associates is an institutional money management firm. It was cofounded by by J. Anthony Forstmann and Joel B. Leff in 1968. The firm is also known as one of the original hedge funds in the US. In 1985, the firm had a capitalization of $3.5 billion.

Firm history

In 2005, Old Mutual Asset Management  bought a controlling interest in the firm, and changed the name to ForstmanLeff LLC. In January 2006, the new firm was acquired by its management team in partnership with Angelo, Gordon & Co.

Angelo, Gordon & Co.

Angelo Gordon & Company is an American private equity firm focused on making distressed investments and a hedge fund sponsor. Within its hedge fund activities, Angelo Gordon focuses on a number of alternative investment strategies...

., a privately held investment firm; The new firm's name was changed in 2007 to AG Asset Management

Clients

The firms's clients included Intel, Pfizer, Standard Oil of Indiana, The Pension Guarantee Corp. The Ford Family, Northrop, Honeywell, Lockheed, Northwest Airlines, Knight Ridder, Delta Airlines, Texas Instruments, Raychem, Studebaker, Chrysler, Commercial Credit, MCA Universal, the City of New York, the State of Minnesota, the State of Maine, Holy Cross University, and the Archdiocese of New York.