Russell Simmons says he’s just fine with his estranged wife, Kimora Lee Simmons, spending time with Oscar nominee Djimon Hounsou.

“He’s a wonderful guy, a very sweet guy,” Simmons, 49, told PEOPLE Monday at the New York City premiere of HBO’s Life Support. “I want her to be happy no matter what.”

Kimora, 31, and Hounsou, 42, have been spotted getting cozy all over Los Angeles recently, having dinner at Mr. Chow, holding hands at Il Sole and kissing at ...