ForstmannLeff Associates is an institutional money management firm. It was cofounded 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., a privately held investment firm; The new firm's name was changed in 2007 to AG Asset Management Currently, AG Asset Management LLC operates in the financial services industry. The Company specializes in equity portfolios, mutual funds, and public equity markets. AG Asset primarily provides its services to high net worth individuals. AG Asset Management is located in New York, United States. Clients The firm's clients included, among others, the following: 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 City of New York State of Minnesota State of Maine Holy Cross University The Archdiocese of New York References Financial services companies of the United States American companies established in 1968 Financial services companies established in 1968