John H. Myers, former President and Chief Executive Officer of GE Asset Management, will join ForstmannLeff.
ForstmannLeff, a long-only investment management firm recently purchased by alternative asset manager Angelo, Gordon & Co., as Chairman effective October 1, 2006. Mr. Myers will also become a partner of Angelo Gordon.
ForstmannLeff was acquired by privately held alternative investment specialist Angelo, Gordon & Co. and members of ForstmannLeff's management in May. ForstmannLeff is led by President and CEO Dana Troxell and Senior Managing Director and Chief Investment Officer Elizabeth Dater.
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FIRMS
ForstmannLeff, founded in 1968 and based in New York City and Boston, manages approximately $2 billion in growth and core domestic equity portfolios for a broad client base. The firm's investment approach is characterized by intensive fundamental research, a disciplined investment process, rigorous risk controls, and distinct investment teams organized with specific specializations by asset class and capitalization range.
Angelo, Gordon & Co., is a privately-held investment management firm specializing in alternative money management activities. The firm was founded in 1988 and has approximately $11 billion under management. Its clients are major corporate pension plans, public pension funds, endowments and foundations, and high net worth individuals and families. Angelo, Gordon seeks to generate absolute returns with low volatility. Currently, the firm focuses on four investment strategies: private real estate, private equity, distressed and leveraged debt and various sector and multi-strategy funds.
PEOPLE
Mr. Myers joins ForstmannLeff after retiring in July as President and Chief Executive Officer of GE Asset Management, a position he held since 1987. In that role, he led the firm's transformation from GE's corporate pension office into a leader in third-party institutional asset management that grew from $50 billion to $200 billion in assets, including a significant amount of external capital. Mr. Myers served in several leadership capacities during his 37-year tenure with GE.
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